Market Overview for Memecoin/Tether (MEMEUSDT): 2025-11-08

Summary
• The pair opened at $0.00168 and surged to a 24-hour high of $0.001902 before retracing to $0.00166.
• Volume spiked near the high, reaching $1.02B at 17:30 ET, followed by a sharp decline into the overnight hours.
• A bearish divergence formed in price and volume, with price dipping below key support at $0.00170–$0.00172.

The 24-hour period for Memecoin/Tether (MEMEUSDT) saw a volatile and mixed session, opening at $0.00168 and reaching an intraday high of $0.001902 before closing at $0.00166 by 12:00 ET. Total volume across the 24-hour period was 2.449 billion MEME coins, with a notional turnover of $438.7 million, indicating heightened liquidity and investor activity. The price action suggests a battle between buyers and sellers, with bearish pressure dominating in the latter half of the session.

Structure & Formations

The 15-minute candlestick data reveals a key support zone forming around $0.00170–$0.00172, with several consolidation candles and a bearish engulfing pattern observed near $0.00174. A notable bearish divergence appears as price action breaks below that support without a corresponding increase in volume, suggesting potential further downside. On the higher timeframe, the $0.00180–$0.00182 level served as a key resistance, where price struggled to hold during mid-session trading.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed into a bearish configuration near the end of the session, with the 50-period SMA pulling away from the 20-period line. On the daily chart, price remains below the 200-period SMA, indicating a longer-term bearish bias and a lack of conviction in the uptrend.

MACD & RSI

The 15-minute MACD crossed into negative territory after the midday peak, signaling a shift in momentum to the downside. The RSI dipped below 30 at the session’s end, entering oversold territory and suggesting the potential for a short-term bounce. However, this is not a strong signal for reversal, as the bearish sentiment is reinforced by the volume and candlestick structure.

Bollinger Bands

Price action displayed a moderate expansion in the width of the Bollinger Bands during the morning hours, followed by a tightening phase in the afternoon. This contraction suggests a period of consolidation before the bearish breakout. The final close of $0.00166 sits just below the lower band, indicating oversold conditions, but caution is needed due to the lack of immediate bullish confirmation.

Volume & Turnover

Volume spiked sharply near the 17:30 ET high, reaching a peak of $1.02 billion, but then declined steadily into the overnight hours. The notional turnover also dipped sharply in the early hours of the session, with a low point observed around 06:00 ET. The bearish divergence between price and volume adds a layer of caution to any potential bounce attempt.

Fibonacci Retracements

Using the key 15-minute swing from $0.00168 to $0.001902, the 61.8% retracement level sits at $0.00179, which was tested and failed in the afternoon. On a daily basis, the 38.2% retracement level of the larger move is at $0.00176, and the 61.8% is at $0.00171. The price closed near the 61.8% level, reinforcing the bearish bias.

Backtest Hypothesis

The current price behavior and technical structure of MEMEUSDT reflect a classic bearish divergence in both volume and momentum indicators, suggesting a higher likelihood of continuation in the short term. A potential backtest strategy could focus on identifying such divergences in the RSI and MACD, particularly during high-volume spikes, to trigger short positions. This approach would need to be validated using a consistent historical dataset, as MEMEUSDT appears to lack sufficient coverage in the current data source. Once verified, a mechanical strategy could target entries on RSI dips below 30 with bearish candle formations and a stop above key resistance levels.