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<p>Today’s Memecore incident is a stark reminder that leverage works both ways, and this time, longs were squeezed hard.</p>
<p>Memecore’s M token suffered a brutal collapse as a result in the past 24-hours, falling from nearly $3.0 and slicing through major support zones at $2.50, $1.90, and $1.24 as if they weren’t there in the first place. Today’s move resembled a falling knife; maybe this time it wasn’t a knife but a heavy sword that sliced in one shot.</p>
<p>At one point, the token touched $0.50, a level last seen in August 2025. It quickly recovered to $0.90, but the fall is still too great for it to recover completely.</p>
<p>For anyone still holding onto the “buy the dip” playbook, the market in memecore has different plans for them.</p>
<figure class="wp-block-image size-large"><img width="1024" height="512" src="https://image.coinpedia.org/wp-content/uploads/2026/06/25225932/MUSD_2026-06-25_10-28-51-1024x512.webp" alt="Memecore Price Crash Wipes Out $2.7 Billion As Long Liquidations Explode
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<h2 id="h-leverage-unwind-hit-traders-hard-today" class="wp-block-heading">Leverage Unwind Hit Traders Hard Today</h2>
<p>The derivatives market tells the <a href="https://www.coinglass.com/currencies/M/futures" rel="noopener noreferrer nofollow">story</a> better than the price chart ever could. Total liquidations climbed to $9.27 million during the selloff, with long positions accounting for $8.26 million of the damage.</p>
<p>Meanwhile, derivatives trading volume exploded 1252% to $354.02 Million while open interest plunged 71.47%, suggesting traders weren’t opening fresh bets; they were abandoning existing ones. That’s not speculation but an evacuation happening.</p>
<figure class="wp-block-image size-large"><img width="1024" height="296" src="https://image.coinpedia.org/wp-content/uploads/2026/06/25230041/Screenshot-2026-06-25-102954-1024x296.webp" alt="Memecore Price Crash Wipes Out $2.7 Billion As Long Liquidations Explode
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<h2 id="h-supply-concerns-fuel-market-panic-further" class="wp-block-heading">Supply Concerns Fuel Market Panic Further</h2>
<p>The crash accelerated after <a href="https://x.com/AshCrypto/status/2070054182904611087?s=20" rel="noopener noreferrer nofollow">reports</a> circulated claiming that roughly 99% of the token supply was controlled by insiders, leaving only a small public float available for trading.</p>
<p>According to those reports, the token once reached a fully diluted valuation of $34.5 billion despite having only around $100,000 of on-chain liquidity while still maintaining a market capitalization near $900 million.</p>
<p>In markets like that, liquidity matters more than narratives.</p>
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  <blockquote class="twitter-tweet">
   <p>Another day, Another scam.<br><br>MemeCore <a href="https://x.com/search?q=%24M&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$M</a> crashed -85% in the last 24 hours, wiping out $2.7 billion in market cap and liquidating $8 million in longs.<br><br>Reasons:<br><br>– According to reports, an estimated 99% of the supply is held by insiders, making the float smaller.<br><br>– This makes it… <a href="https://t.co/Zky9i92UWv" rel="noopener noreferrer nofollow">pic.twitter.com/Zky9i92UWv</a></p>— Ash Crypto (@AshCrypto) <a href="https://x.com/AshCrypto/status/2070054182904611087?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 25, 2026</a>
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<h2 id="h-memecore-price-faces-critical-recovery-test" class="wp-block-heading">Memecore Price Faces Critical Recovery Test</h2>
<p>Despite recovering from the intraday low, <a href="https://coinpedia.org/price-analysis/memecore-price-volatility-explodes-after-hardfork-and-perp-listing-surge/" rel="noopener noreferrer nofollow">Memecore</a> remains far below previous support levels that have now become resistance.</p>
<p>The sharp rise in short pressure and forced liquidations has left traders wondering whether today’s rebound marks stabilization or simply a pause after one of the most violent deleveraging events the token has experienced so far.</p>

Memecore Price Crash Wipes Out $2.7 Billion As Long Liquidations Explode

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