- MemeCore lost 75% as traders questioned token supply concentration risks.
- ZachXBT renewed concerns over alleged insider holdings and market activity.
- Exchange listing standards face scrutiny after MemeCore’s sharp market collapse.
MemeCore Price Crash dominated crypto headlines after the M token lost more than 75% of its value within hours, erasing nearly $3 billion in market capitalization. According to OKX market data, the token traded around $0.67 after the steep decline. The sudden selloff has renewed debate over insider ownership, liquidity risks, and exchange listing standards, while no confirmed exploit or security incident has been reported.
MemeCore Price Crash Raises Questions Over Insider Holdings
The MemeCore Price Crash unfolded rapidly as the M token fell from nearly $3 to approximately $0.50 on June 25. The sharp decline reduced the project’s market capitalization from several billion dollars to below $1 billion within hours.
According to Wu Blockchain, concerns emerged over allegations that insiders controlled more than 90% of the token supply. Those claims remain unverified, but they contributed to heightened uncertainty among traders.
The collapse also reignited discussion about MemeCore’s previous valuation, which had reached roughly $6 billion despite relatively limited public information regarding token distribution. Without an official explanation for the decline, investors were left searching for possible causes behind the dramatic selloff.
ZachXBT Revisits Earlier Warnings After M Token Collapse
Following the MemeCore Price Crash, blockchain investigator ZachXBT returned to concerns he had previously raised about the project. In comments shared publicly, he noted that the token’s fully diluted valuation had declined from approximately $14 billion to around $3.8 billion after the selloff.
ZachXBT said he, alongside other researchers, had previously identified potential warning signs involving insider holdings and what he described as misleading user growth practices. He also questioned why several major cryptocurrency exchanges listed the token despite those earlier concerns.
In a public statement directed at MemeCore figure Rudy Rong, ZachXBT asked how many retail investors had suffered losses because of alleged market manipulation. Those allegations have not been independently verified, and MemeCore has not publicly responded with a detailed explanation regarding either the token’s collapse or the claims surrounding supply concentration.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
