Deep Dive
1. Negative MEV Sector News (Bearish Impact)
Overview: On January 20, 2026, DeFi protocol MakinaFi was exploited for 1,299 ETH (~$4.1M) in a breach tied to Maximal Extractable Value (MEV) tactics (PeckShieldAlert). The incident highlighted persistent security risks in transaction-ordering and MEV-related protocols.
What this means: Although MEVerse is a separate blockchain project, its ticker "MEV" and association with the broader MEV/DeFi narrative made it vulnerable to guilt-by-association selling. News of high-profile exploits often trigger risk reassessment, leading investors to reduce exposure to perceived higher-risk assets within the same thematic category. This created immediate selling pressure on MEV tokens.
What to look out for: Any follow-up announcements from MEVerse distancing itself from the exploit or reinforcing its own network security could help stabilize sentiment.
2. Broader Market Sell-Off (Bearish Impact)
Overview: The total crypto market cap fell 1.84% in the last 24h, with sentiment deep in "Extreme Fear" (index: 14) and altcoin season index at a low 33 (CMC Global Metrics). This indicates a widespread risk-off environment.
What this means: MEV, as a micro-cap altcoin with a market value of $6.66M, is highly sensitive to overall market liquidity and sentiment. During fear-driven sell-offs, capital typically flows out of speculative, lower-liquidity assets first. MEV's 24h volume of $2.54M and high 38.1% turnover ratio confirm intense selling activity, exacerbating the price drop relative to the market.
3. Technical Breakdown (Bearish Impact)
Overview: MEV's price at $0.00386 is below its 7-day Simple Moving Average ($0.0040821) and 30-day SMA ($0.0040629), indicating sustained selling pressure. The MACD histogram is negative at -0.00017434, signaling bearish momentum is strengthening.
What this means: Breaking below short-term moving averages often acts as a sell signal for momentum traders, leading to accelerated selling. The negative MACD suggests the recent downtrend has room to continue, potentially testing the next Fibonacci support level near $0.0039481.
What to look out for: A reclaim of the $0.00408 level (7-day SMA) could signal a short-term bounce, while a break below $0.00395 might lead to a test of the swing low at $0.0028225.
Conclusion
MEVerse's price drop stems from a combination of negative sector news, a risk-averse broader market, and bearish technical breakdowns. For holders, this reflects the high volatility and sentiment sensitivity typical of micro-cap narrative coins.
Key watch: Can MEV hold above the $0.00395 Fibonacci support, and will the broader market's fear gauge improve in the next 24–48h?