ZachXBT Questions MemeCore's $6 Billion Valuation Amid Insider Token Supply Concerns
Here's what it means for you.
If you're involved in crypto investments, understanding token supply dynamics is crucial for assessing risk.
What happened
On April 20, 2026, on-chain investigator ZachXBT publicly questioned MemeCore's $6 billion market capitalization and alleged that over 90% of the $M token supply is controlled by insiders.
The Context
- Insider Control: ZachXBT's analysis revealed that more than 90% of the $M token supply is concentrated in a few wallets, raising concerns about market manipulation.
- Market Reaction: Following the scrutiny, the price of $M dropped 24% to $3.53, reflecting investor apprehension about the token's valuation and liquidity.
- Previous Patterns: The situation echoes the collapse of the RAVE token, which also exhibited high insider control and suspicious trading patterns, leading to significant losses for investors.
The Number
— This figure represents the estimated insider control of the $M token supply, highlighting potential risks for investors and the need for transparency in tokenomics.
Takeaway
As scrutiny continues, expect increased volatility in MemeCore's market performance and heightened calls for regulatory oversight in the crypto space.
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