MemeCore Unveils $10M Buyback, Watches Token Snap Back 150% Then Slump 5% in 24 Hours 🪙

MemeCore Foundation announced a Strategic Treasury Buyback Program valued at no less than $10 million, aiming to address concerns after the M token shed roughly 85% of its value in a single week, falling from around $2.80 to $0.40 before consolidating near that low for more than seven days. The Foundation stated it had not identified any issues within the ecosystem tied to the decline, while disclosing that the timing, execution method, and schedule of the buyback would remain undisclosed to avoid directly influencing market activity.

In a post on X, the Foundation wrote: "The Foundation reserves the right to adjust the execution pace, frequency, and amount of each transaction based on market conditions and treasury management considerations." Immediately following the announcement, MemeCore [M] rallied more than 42%, completing a roughly 150% recovery from the $0.40 bottom, before reversing course and dropping over 5% within 24 hours. At the time of the latest data, M was trading near $1.57, still well below its pre-crash market cap.

Technical analysis on the daily chart showed the crash had breached two key support levels at $1.48 and $1.93, with the immediate reclaim of the lower level indicating buyers stepped in at a discount. The MACD indicated bearish control, though that dominance was fading, while the Choppiness Index (CHOP) remained below 40, signaling the slight uptrend had yet to gather pace. For a full recovery, M's price would need to rise above $1.93 and clear the descending trendline resistance.

Over the long term, M's price action remains structurally bearish despite emerging bullish signs, and traders have flagged ongoing concerns raised by on-chain investigator ZachXBT regarding the tokenomics of the altcoin.