MemeCore’s M token collapsed roughly 74% over a single 24-hour period, falling from about $2.92 to as low as $0.51 and trading subsequently near $0.74, with the steep drop occurring within that one-day window.
Market capitalization declined from roughly $3.8 billion to about $969 million during the same interval, erasing nearly $3 billion of market value and shrinking headline market capitalization figures.
Approximately $21 million in trading volume changed hands over the 24-hour period in total across reported trades overall.
Market capitalization for MemeCore’s M token fell from about $3.8 billion to about $969 million, erasing nearly $3 billion in market value during the reporting period. Approximately $21 million in trading volume changed hands over the same 24-hour window. About 11.7 million M tokens were held across addresses, valued at approximately $39.8 million at the time of reporting. These figures were reported alongside the token’s rapid market movement during that single-day interval.
Kraken was one of only a few venues supporting M spot trading during the period. This section summarizes reported market-cap, trading-volume and on-chain token-holding data without addressing causes or unverified allegations.
An on-chain investigator, ZachXBT, claimed about $7.9 million in suspicious Kraken withdrawals to 18 newly created addresses. The report identified those withdrawals as notable transfers tied to newly created accounts on-chain. Separate allegations contended that insiders manipulated the token’s price to reach a $6 billion market capitalization and an $18 billion fully diluted valuation. These items were reported as third-party claims rather than confirmed findings.
The claims have not been independently verified. MemeCore did not respond to requests for comment as of Asian morning hours on Thursday. Reporting made clear that the assertions remained unverified at the time of publication. The section presents the reported third-party allegations and the noted lack of independent verification without treating them as established facts.
The MemeCore M token experienced a sharp collapse, falling about 74% in 24 hours from roughly $2.92 to as low as $0.51 and trading subsequently near $0.74, while market capitalization dropped from about $3.8 billion to about $969 million, erasing nearly $3 billion in market value. There was no confirmed catalyst for the drop, and third-party allegations of manipulation have not been independently verified. MemeCore did not respond to requests for comment as of Asian morning hours on Thursday. The reporting maintained a cautious, analytical tone when presenting the market moves and the unverified claims.
