MemeCore's M token plummeted by approximately 74% in 24 hours, wiping out nearly $3 billion in market value. The crash occurred on low volume without a clear exploit or announcement, following prior allegations of insider manipulation by investigator ZachXBT.
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MemeCore's M token plunges 80% amid insider manipulation allegations
IN SHORT
MemeCore's M token plummeted by approximately 74% in 24 hours, wiping out nearly $3 billion in market value. The crash occurred on low volume without a clear exploit or announcement, following prior allegations of insider manipulation by investigator ZachXBT.
Frequently asked questions
The exact cause of the MemeCore M token's crash is unclear, as there was no confirmed exploit, hack, or announcement. However, prior allegations of insider price manipulation by ZachXBT may be a contributing factor.
The M token lost approximately 74% of its value, erasing close to $3 billion in market capitalization.
Yes, on-chain investigator ZachXBT previously alleged suspicious withdrawals from Kraken and suggested insider manipulation of the token's price and supply.
Tokens with heavy insider ownership, limited trading venues, and demand driven by paid promotion can be highly fragile and prone to rapid price declines due to insufficient liquidity.
What Happens Next
01MemeCore may issue a statement addressing the token's price collapse.
02Further analysis of on-chain data may reveal the specific trigger for the sell-off.
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MemeCore's M token plunges 80% amid insider manipulation allegations