- Token-the MemeCore meme has raised suspicions Zach XBT due to the high level of capitalization and concentration of coins held by insiders.
- M owners risk losing money during a pump and dump scam.
Blockchain-detective Zach XBT, recently warned about the dump of the RaveDAO (RAVE) cryptocurrency price, became interested in the suspicious memecoin MemeCore (M).
On April 20, the developers of the meme token joyfully announced the that their digital asset was mentioned by employees of the investment company Grayscale, who included M in the rating of virtual currencies with the highest capitalization as of the beginning of April 2026.
In response to this message Zach XBT wrote:
You’ve officially been recognized by me. And I’m just getting warmed up. Please provide some data explaining why your cryptocurrency’s market capitalization is $6 billion, it’s in the top 20 digital assets by this metric, and insiders own over 90% of the coin supply.
M is considered overvalued because the platform for issuing and promoting meme tokens MemeCore, which competes with Bonk.fun and Pump.fun, does not have such a high value that the digital asset created by its developers has a market capitalization level $ 6,2 billion Currently, the concentration of the lion’s share of coins in the hands of one group of investors increases the risk of market manipulation.
Apparently, Zach XBT fears that the wealthy owners of M are planning a pump-and-dump scheme. Cryptocurrency price went up On March 16, it more than tripled in a month. However, the bullish trend has fizzled out, and the coin is currently correcting. Therefore, it’s too early to talk about a token price crash. Typically, a dump phase occurs after an asset’s exponential price increase ends. For example, RAVE went up in price tens of times during this stage.
MemeCore exchange rate fluctuations
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