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MemeCore Token Crashes 74% in 24 Hours, Wiping Out $3 Billion Market Cap

GateNews
Price Volatility
M-71.08%
According to CoinDesk data, MemeCore token (M) crashed approximately 74% on Wednesday, plummeting from around $2.92 to $0.51 and erasing nearly $3 billion in market capitalization. Market cap fell from roughly $3.8 billion to $969 million, dropping below the $1 billion threshold. Trading volume during the 24-hour collapse was unusually thin at just $21 million, and no technical exploit, hack, or smart contract breach was identified as a trigger. The MemeCore team has issued no public statement. In April, blockchain investigator ZachXBT had warned of possible insider price manipulation, citing $7.9 million in suspicious Kraken withdrawals to 18 newly created wallets and alleged that MemeCore team wallets received 200 million M tokens at launch.
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