![Memecore [M] Rallies 30%, Then Drops As Sellers Dominate: Rally Over?](https://satoshisbrain.com/wp-content/uploads/2026/02/dalle_69946fca51adf7.86828262-1068x610.png "dalle_69946fca51adf7.86828262.png")
Memecore’s M token surged nearly 30% over two days before pulling back, with its 24-hour gain at 14.7%. Technical analysis indicates the token remains range-bound between $1.23 and $1.90, with on-chain metrics showing sustained selling pressure and capital outflow despite the recent price increase.
The Memecore [M] token recorded a significant 14.7% price increase over 24 hours. Its daily trading volume also rose by 13.88%, according to CoinMarketCap data.
Price action showed M rallied 29.61% within a two-day period before receding. The memecoin hit a low of $1.241 on Sunday before climbing to $1.609 just 39 hours later.
At the time of writing, the price had fallen 7.7% from that peak to $1.485. Analysis of Fibonacci retracement levels indicated bulls have defended the 61.8% level at $1.37 since late November.
This action established a trading range between $1.23 and $1.90. The area between $1.86 and $2.04 was identified as a key overhead supply zone.
The Accumulation/Distribution indicator trended downward, signaling more selling pressure than buying. The Chaikin Money Flow remaining below -0.05 further indicated significant capital outflow from M.
Volume indicators firmly showed seller dominance during this period. This was reinforced by low trading volume observed during the token’s recent two-day rally.
On shorter timeframes, a sharp sell-off occurred as M approached the $1.50 local supply zone. This move indicated heavy profit-taking pressure and signaled a potential drop toward the $1.36 local support.
As things stand, M traders can look to sell rather than buy as buying strength appears exhausted. A deeper retracement to the range lows would be needed for swing traders to consider buying opportunities.
