MemeCore’s M token lost roughly three-quarters of its value in a single day, collapsing from approximately $2.92 to as low as $0.51 before settling near $0.74. The 74% wipeout shaved nearly $3 billion off the token’s market capitalization, dragging it from around $3.8 billion to roughly $969 million.
A crash without a smoking gun
Daily trading volume during the crash clocked in at approximately $21 million. For a token that supposedly held a $3.8 billion market cap, that number is remarkably thin. When trading venues are scarce and volume is light, even modest sell orders can cascade into catastrophic price declines. A $21 million daily volume supporting a multi-billion-dollar market cap is the crypto equivalent of a skyscraper built on a foundation of wet cardboard.
MemeCore has not released a public statement addressing the collapse as of publication.
The warnings were there
