Token

MemeCore

ZachXBT

April

<h3 id="key-takeaways">Key Takeaways</h3>
<ul>
 <li>The M token from MemeCore experienced a devastating 74% decline within 24 hours, plunging from $2.92 to a low of $0.51</li>
 <li>Approximately $3 billion in market capitalization evaporated, reducing the total market cap to roughly $969 million</li>
 <li>No security breach, technical exploit, or formal statement from the team has accounted for the sudden collapse</li>
 <li>Blockchain detective ZachXBT issued warnings in April regarding suspected insider price manipulation of the M token</li>
 <li>The MemeCore team remained silent without any public statement as of Thursday morning</li>
</ul>
<p>The MemeCore M token experienced a catastrophic decline of approximately 74% within a 24-hour window, tumbling from a peak around $2.92 down to a bottom of $0.51 before stabilizing near $0.74, based on CoinDesk market data.</p>
<figure class="wp-caption aligncenter"><img src="https://blockonomi.com/wp-content/uploads/2026/06/chart-26-3.webp" alt="MemeCore (M) Price" width="1824" height="1248">
 <figcaption><a href="https://www.coingecko.com/en/coins/memecore?chart=type%3Dprice%26mode%3Dline%26timeframe%3Dd7" rel="noopener noreferrer nofollow">MemeCore (M) Price</a>
 </figcaption>
</figure>
<p>The dramatic selloff eliminated nearly $3 billion in total market capitalization. The token’s valuation plummeted from approximately $3.8 billion down to around $969 million within just a few hours.</p>
<p>Despite the massive price movement, trading activity remained surprisingly muted. Only roughly $21 million in volume was recorded throughout the 24-hour timeframe — an unusually low figure for such a significant price swing.</p>
<div class="embed-x">
 <blockquote class="twitter-tweet">
  <p>MemeCore Plunges Over 75% Amid Questions Over Insiders Holding More Than 90% of Supply</p>
  <p>OKX market data showed MemeCore (M) trading at USD 0.67436, down more than 75% over 24 hours. The drop came after concerns over possible token control, including questions about MemeCore’s… <a href="https://t.co/AOKpZEq2wk" rel="noopener noreferrer nofollow">pic.twitter.com/AOKpZEq2wk</a></p>
  <p>— Wu Blockchain (@WuBlockchain) <a href="https://x.com/WuBlockchain/status/2070034186392731666?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 25, 2026</a></p>
 </blockquote>
</div>
<p>No definitive explanation for the sudden collapse has surfaced. There were no reports of technical compromises, smart contract exploits, or official communications from MemeCore’s development team.</p>
<p>Attempts to contact MemeCore for comment went unanswered. By Thursday morning across Asian time zones, the project had issued no public statements addressing the price crash.</p>
<h3 id="blockchain-detective-s-previous-alert">Blockchain Detective’s Previous Alert</h3>
<p>The dramatic price collapse has renewed focus on red flags raised several months prior. Back in April, prominent blockchain investigator ZachXBT openly questioned Kraken’s decision to list M for spot trading in July 2025, expressing doubts about whether proper due diligence procedures were followed.</p>
<div class="embed-x">
 <blockquote class="twitter-tweet">
  <p>Why did Kraken list <a href="https://x.com/search?q=%24M&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$M</a> (Memecore) on July 3, 2025 for spot and how did it pass due diligence?</p>
  <p>$7.9M in suspicious Kraken withdrawals to 18 newly created addresses with 11.7 <a href="https://x.com/search?q=%24M&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$M</a> sitting total (valued at $39.8M now).</p>
  <p>Insiders have manipulated the price to $6B market cap ($18B FDV)… <a href="https://t.co/pL7oroZ4lJ" rel="noopener noreferrer nofollow">pic.twitter.com/pL7oroZ4lJ</a></p>
  <p>— ZachXBT (@zachxbt) <a href="https://x.com/zachxbt/status/2046228647951101995?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 20, 2026</a></p>
 </blockquote>
</div>
<p>ZachXBT claimed that project insiders had “manipulated the price” to achieve an inflated $6 billion market capitalization and an extraordinary $18 billion fully diluted valuation. He highlighted approximately $7.9 million in questionable withdrawals from Kraken flowing into 18 freshly created wallet addresses.</p>
<p>Additionally, he asserted that a wallet address he traced back to the MemeCore team had received 200 million M tokens during the initial launch phase, with millions of those tokens subsequently transferred to Kraken deposit wallets. These allegations remain unverified through independent investigation.</p>
<p>ZachXBT observed that Kraken was among just a few platforms offering <a href="https://coincentral.com/bitcoin-btc-casinos/" rel="noopener noreferrer nofollow">M spot trading.</a> He further pointed out that the project’s primary marketing strategy centered on incentivized social media campaigns compensating users for promotional posts — a tactic commonly referred to as InfoFi.</p>
<h3 id="insufficient-liquidity-amplifies-price-decline">Insufficient Liquidity Amplifies Price Decline</h3>
<p>The convergence of concentrated token distribution, restricted exchange availability, and compensated promotional tactics established an environment where selling pressure could trigger dramatic price movements.</p>
<p>When the selling wave commenced, genuine market liquidity proved insufficient to stabilize the decline, explaining both the velocity and severity of the drop.</p>
<p>As of Thursday morning, M’s market capitalization stood at approximately $969 million, representing a steep fall from the roughly $3.8 billion valuation before the slide initiated.</p>
<p>The post <a href="https://blockonomi.com/memecore-m-token-plummets-74-in-single-day-after-zachxbts-manipulation-warning-resurfaces/" rel="noopener noreferrer nofollow">MemeCore (M) Token Plummets 74% in Single Day After ZachXBT’s Manipulation Warning Resurfaces</a> appeared first on <a href="https://blockonomi.com" rel="noopener noreferrer nofollow">Blockonomi</a>.</p>

MemeCore (M) Token Plummets 74% in Single Day After ZachXBT’s Manipulation Warning Resurfaces

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