MemeCore’s token dropped more than 20% in the two days leading up to its $55.46 million unlock scheduled for August 2. This token release equals about 0.56% of the total supply and 4.22% of what’s circulating. The market seems to be pricing in the increased supply well before the event.
The previous unlock on July 3 saw $55 million worth of tokens hit the market, triggering a sharp price drop. Back then, the community grabbed 43% of the tokens, investors took 22%, the foundation received 21%, and the team got 14%. That event set a local high that sellers have defended since, leaving the token under consistent pressure.
Open Interest in MemeCore derivatives fell 10% to $19.8 million within 24 hours, signaling traders are stepping back, which usually means fading bullish momentum rather than aggressive buying at lower prices. Meanwhile, technical indicators show limited signs of a rebound, with the Stochastic RSI nearing oversold levels and the token still trading below the post-July 3 breakdown zone. If selling continues post-unlock, the price might test the $0.515 to $0.756 support range.
This content is for informational purposes and does not constitute financial advice.
