Japan · CoinDesk
MemeCore's M token suddenly collapses 80% with no clear trigger
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
★ Tier-1 Source
Blockchain project MemeCore's M token collapsed about 74% over 24 hours, sliding from a high near $2.92 to as low as $0.51 before steadying around $0.74, with no exploit, hack or announcement to account for the drop.
Key facts
- In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024
- Blockchain project MemeCore's M token collapsed about 74% over 24 hours, sliding from a high near $2.92 to as low as $0.51 before steadying around $0.74, with no exploit, hack or announcement
- Why did Kraken list $M (Memecore) on July 3, 2025 for spot and how did it pass due diligence
- The fall erased close to $3 billion in market value
Summary
MemeCore’s M token plunged about 74 percent in 24 hours, wiping out nearly $3 billion in market value as its price fell from around $2.92 to about 74 cents. The sharp drop came on relatively thin trading volume of roughly $21 million and without any confirmed news, exploit or hack to explain the move. The slide follows earlier, unverified allegations by on-chain investigator ZachXBT that insiders manipulated M’s price and concentrated supply, underscoring how tokens with heavy insider ownership, limited venues and paid promotion can be highly fragile. Trading was thin relative to the size of the move, with only about $21 million changing hands over the day.