MemeCore Plunges Over 75% Erasing $3 Billion Amid Insider Supply Concerns

cryptocrypto-markets 4 posts · 4 accounts

MemeCore’s M token plunged more than 75% overnight, erasing over $3 billion from the digital asset’s roughly $6 billion valuation. Market data from OKX showed the token trading at around $0.67, down from $0.81 following the sharp selloff, according to crypto market tracker CoinGecko.

The decline was triggered by concerns over token supply concentration, as on-chain analytics pointed to allegations that insiders control more than 90% of the total supply. Traders highlighted suspicious supply movements and noted that MemeCore’s order books currently carry very low liquidity, exacerbating the sell-off.

From the sources (4 posts)

@wublockchain

MemeCore Plunges Over 75% Amid Questions Over Insiders Holding More Than 90% of Supply OKX market data showed MemeCore (M) trading at USD 0.67436, down more than 75% over 24 hours. The drop came after concerns over possible token control,

@coingecko

$M just crashed 71% to $0.81.

@trueo_

INSIDER SUPPLY CONCENTRATION 🔐 MEMECORE ($M) COLLAPSES -75% TO $0.67 ON OKX.

@bic_headlines

MemeCore's M token plunged 74 percent overnight. Over $3 billion erased. Onchain data points to suspicious supply moves and very low liquidity.

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