MemeCore Token Defies Market Downtrend with 14% Surge Amid Bearish Sentiment

MemeCore's M token rallied 14% against the broader crypto market decline, showcasing unusual resilience. The gains occurred despite futures traders maintaining aggressively bearish positions, with funding rates hitting -0.99%—a 38-day low that typically signals strong downward pressure.

Technical indicators reveal underlying weakness in the rally. The Chaikin Money FLOW indicator has dipped below zero, suggesting capital outflows despite price appreciation. This bearish divergence often precedes reversals, as institutional money fails to support retail-driven price action. TradingView data shows the CMF trending downward throughout the session, casting doubt on the rally's sustainability.

Derivatives markets amplify the skepticism. Futures traders continue betting against M's momentum, with open interest and funding rates suggesting expectations of an imminent pullback. Such pronounced bearish positioning in derivatives often creates volatile countertrend movements when short positions are forced to cover.