MemeCore's M token plunged approximately 74% in 24 hours, falling from around $2.92 to about $0.74, wiping out nearly $3 billion in market value. The crash occurred on thin trading volume of roughly $21 million, with no confirmed exploit, hack, or announcement to explain the sudden sell-off. On-chain investigator ZachXBT had previously alleged in April that insiders manipulated M's price and that the token's market cap was artificially inflated to $6 billion. He pointed to suspicious Kraken withdrawals and concentrated insider ownership. MemeCore did not respond to requests for comment. The collapse highlights the fragility of tokens with heavy insider supply, limited exchange listings, and reliance on paid promotional campaigns, where real liquidity is insufficient to absorb selling pressure.

Key facts

• M token crashed 74% in 24 hours, from ~$2.92 to ~$0.74.
• Nearly $3 billion in market value erased with no confirmed exploit.
• ZachXBT alleged insider manipulation and suspicious Kraken withdrawals in April.
• Thin trading volume of ~$21 million during the crash.
• Token reliance on paid promotion and few exchange listings cited as fragility.