MemeCore (M) rebounds nearly 150% this week and trades at $1.66 after its treasury announced a buyback worth more than $10 million.

The token collapsed 76% on June 25 and briefly traded near $0.50. Weekly and daily charts now show the recovery pressing into resistance zones that could decide the next major move.

A $10 Million Buyback Answers the 76% Crash

MemeCore’s M token fell from $2.66 to an intraday low of $0.50 on June 25, a crash that pushed its market cap from around $3.5 billion to $903 million. The selloff arrived without any confirmed catalyst.

Onchain investigator ZachXBT connected the collapse to structural weaknesses he had flagged months earlier. He cited less than $100,000 in onchain liquidity on BNB Chain against a market cap still near $900 million.

“Myself, Mlm, & Wazz previously highlighted a number of red flags on X about MemeCore with inorganic supply concentration and deceptive practices by its team to boost user numbers,” he said on Telegram.

Meanwhile, trader Ash Crypto estimated that the selloff liquidated around $8 million in long positions. MemeCore responded days later with a treasury buyback worth more than $10 million, as trader rapperr111 noted on X.

The team stated that an internal investigation found no protocol or infrastructure issues. It also denied any selling by the team or foundation and attributed the crash to a single large market sell order. This explanation has not been independently verified.

The announcement coincided with the start of the recovery. M has since climbed back to rank 40 by market cap after falling to 72 during the crash.

MemeCore Rebound Holds the Key Weekly Support Zone

The weekly chart shows the crash candle wicking down to $0.53 before buyers stepped in. Notably, the selloff stopped almost exactly at the support zone between roughly $0.60 and $0.85.

This area acted as resistance from July to August 2025, before the token began its long rally toward the all-time high. Historically, such flipped zones often generate strong demand, and the current bounce fits that pattern.

However, the breakdown also destroyed the long-term ascending trendline that had guided M since mid-2025. That trendline now converges with the horizontal supply zone near $1.80, directly above the current price.

The weekly RSI stands at 45, reset from readings above 80 near the April peak. Therefore, a reclaim of $1.80 could open the path toward the next supply zone between $2.80 and $3.00. In contrast, rejection at $1.80 would signal downtrend continuation toward the $0.60 to $0.85 area.

M Price Prediction as the $2.10 Fib Caps the Bounce

The daily chart confirms the June 25 breakdown, which cut through the 0.5 Fibonacci retracement at $2.63 on record volume. The decline extended for several sessions and bottomed near $0.41.

Since then, buyers have reclaimed the 0.236 Fib at $1.46. M trades at $1.66 at press time, up 54% in 24 hours, according to BeInCrypto Markets data.

The next target is the 0.382 Fib level at $2.10, which is around 27% above the current price. A breakout there would expose the 0.5 Fib at $2.63, which coincides with the descending trendline drawn from the April 24 all-time high of $4.85. This confluence makes $2.63 the decisive barrier for the entire recovery.

Momentum supports the bulls for now. The daily RSI has recovered to 43 after printing oversold readings near 20 during the crash. A previous analysis showed M respecting the same Fibonacci structure in May, before the trend reversed.

On the downside, a break of the 0.236 Fib at $1.46 would invalidate the bullish setup and expose the $0.85 to $0.60 support again. Whether the buyback marks a durable bottom or only a pause in the downtrend now depends on the $2.10 test.

Источник: BeInCrypto