After a sharp drop in June, MEMECORE has recently seen a recovery. Coinpedia reports that the token rebounded intraday following a community event in Tokyo, but the market remains cautious about whether this rally can be sustained.
After a sharp drop in June, the market recovered somewhat.
The token fell from a high of $4.83 to $0.51 in June, a drop of nearly 89%. This decline almost wiped out the gains of the previous months and significantly dampened market sentiment.
After entering July, MEMECORE rebounded to $1.85, recovering about 233% from its June low. However, this recovery subsequently slowed, and the price fell back to around $1.12.
- The all-time high was $4.83.
- The June low was $0.51
- The rebound high in July was $1.85.
The Tokyo event drew attention.
The report mentioned that the project team recently held an event in Tokyo and indicated that they will be launching a new collaboration with WebX Asia in the coming days. Such community engagement helps maintain the project's visibility and may also generate short-term interest in potential deals.
However, the article argues that community enthusiasm alone is insufficient to support a sustained price recovery. Whether the market continues to buy remains the more direct factor determining future price movements.
The 20-day moving average remains a resistance level.
Currently, MEMECORE is still trading below its 20-day moving average. The report considers this level a crucial point to observe whether a short-term trend correction can materialize.
If prices fail to regain this moving average, the market may continue to test previous lows, with the $0.51 area where the decline bottomed out in June becoming a focus again. Conversely, if prices break above the 20-day moving average, the market will be more likely to view this rebound as the start of a further correction.
According to the reported range, the key resistance levels to watch are around $1.73 and $2.11, where selling pressure previously re-emerged.
