#BTCProbes60KKeySupportLevel

MemeCore Token Plunges Over 75% in 24 Hours

MemeCore Token (M) experienced a sharp decline after its price dropped more than 75% in 24 hours. The decline occurred amid growing investor concerns about the token distribution structure and allegations that over 90% of MemeCore's supply is controlled by project insiders.
Market data shows MemeCore's price fell to around $0.67, wiping out most of its market capitalization in a short time. The sell-off was triggered by questions about the project's valuation, which previously stood at around $6 billion, while most tokens are suspected to be concentrated in several wallets affiliated with insiders.
The concentration of large token holdings is considered to increase the risk of price manipulation because a small number of parties have the ability to influence the circulating supply. This situation also leads investors to question the real liquidity level and the sustainability of the project's valuation.
Issues regarding MemeCore's token distribution have actually surfaced since last April, when on-chain analyst ZachXBT questioned the project's market capitalization claims and demanded an explanation regarding the alleged possession of more than 90% of the token supply by insiders. At that time, the project denied these allegations, but market concerns have resurfaced after the sharp price correction.
So far, there is no official evidence confirming any violation or manipulation by the development team. However, the price drop indicates that investors are increasingly paying attention to token distribution transparency and project governance as key factors before investing in crypto assets.
This event serves as a reminder that tokenomics structure and ownership distribution are important aspects in assessing the risk of a blockchain project. When most of the supply is in the hands of a few parties, price volatility can increase significantly, amplifying risks for retail investors.