MEME Token Slumps 11% as Bears Dominate: Key Levels to Watch

• MEME’s 10.99% drop signals strong sell-off, with market sentiment turning bearish.
• Immediate support at $0.00800 crucial for MEME, with $0.00780 as next level.
• RSI near oversold suggests potential short-term bounce, but the trend remains bearish.

The meme market has seen a surge in recent months, with the market cap reaching a staggering $111 billion. But new data shows a 4.2% dip, making people wonder if the memecoin hype is fading. The price of MEME has dropped sharply, forcing traders to rethink its future.

Price and Market Activity

As of press time, MEME is trading at $0.00809, down by 10.99% in the past 24 hours. This drop indicates a strong sell-off, as traders react to the pressure on the market. 

Additionally, the market cap stands at $296.18 million, a 12% decrease from the previous day. Despite the drop in price, the 24-hour trading volume remains high at $139.66 million, indicating that there is still active participation, but the sentiment is predominantly bearish.

Related: Toshi Memecoin Surges Over 130% After Coinbase Listing News

Support and Resistance Levels

Support and resistance levels are key to figuring out where MEME’s pr…

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