The meme market has experienced a surge in popularity in recent months, reaching a market cap of $111 billion. However, new data suggests a 4.2% dip, raising concerns about the fading hype around memecoins. The price of MEME has dropped sharply, leading traders to reconsider its future. MEME is currently trading at $0.00809, down 10.99% in the past 24 hours, indicating a strong sell-off. The market cap has also decreased by 12% to $296.18 million. Despite the drop in price, the 24-hour trading volume remains high at $139.66 million, implying active participation but predominantly bearish sentiment. Support and resistance levels, such as $0.00800 and $0.00850, will play a crucial role in determining MEME's price movement. The RSI suggests the possibility of a short-term bounce, but the broader trend remains bearish. The MACD indicator is in negative territory, indicating continued bearish momentum, though the flat histogram suggests a possible consolidation phase.



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