It is less than two days until MemeCore’s [M] next unlock, and the market appears to be reacting early. The token has lost more than 20% over the last two days as attention shifts toward the upcoming event.
The decline extended the bearish trend that began after the unlock on the 3rd of July. That event released roughly $55 million worth of tokens.
The community received $24.02 million, representing around 43% of the total unlock. Investors received $12.35 million, accounting for 22%.
Meanwhile, the foundation received $11.53 million, or 21%. The remaining $7.55 million, around 14%, went to the team. The July unlock coincided with a significant price breakdown. The next unlock is scheduled for the 2nd of August.
Therefore, another supply increase could affect MemeCore’s price and short-term sentiment.
Is selling pressure building early?
The upcoming event will release another $55.46 million worth of M tokens. That accounts for 0.56% of Total Supply and 4.22% of Circulating Supply.
The distribution will follow July’s pattern, allocating tokens to the community, investors, foundation, and team.
Price action already appears to be reflecting the event. MemeCore’s 30-day Sharpe Ratio stood at 3.22 and remained elevated over the last five days.
The reading showed that returns remained high relative to measured volatility. However, it did not confirm that volatility had peaked.
Caution was clearer in the derivatives market.
Open Interest dropped 10% to $19.8 million over the last 24 hours. This indicated that traders were closing positions. In similar scenarios, falling Open Interest alongside declining prices often pointed to weakening bullish conviction rather than aggressive dip-buying.
The same pattern could affect MemeCore if the current trend continues.
How low could MemeCore fall?
Technically, MemeCore remained under pressure as traders watched for signs of a reversal. The 3rd of July unlock marked the local high that sellers have defended since.
Nearly a month later, buyers had not reclaimed that level. This left the broader market structure tilted toward the downside.
Momentum indicators offered little encouragement. The Stochastic RSI approached oversold territory while M remained below its post-unlock breakdown zone.
If selling continues after the 2nd of August, attention could shift toward the $0.515–$0.756 demand zone.
That area represented MemeCore’s [M] next meaningful support, where buyers may attempt to absorb the additional supply.
For now, the market appears to view the unlock as a near-term risk. Unless demand improves after the tokens enter circulation, MemeCore’s price outlook could remain weak.
Final Summary
- MemeCore lost more than 20% before its $55.46 million token unlock.
- Open Interest fell 10% to $19.8 million, pointing to weaker derivatives participation.