MemeCore's M Token Crashes, Wiping $3B Market Cap on June 27; Project Remains Silent

According to CoinDesk, MemeCore ecosystem token M crashed on June 27, with the project's market cap declining nearly $3 billion in a single day. The project has not issued a public statement in response to the collapse, drawing community backlash.

Onchain investigator ZachXBT previously questioned M's valuation, suggesting it may have been inflated by internal fund movements. With spot trading concentrated on a limited number of exchanges and market momentum partly driven by launch platform volume and incentivized social media promotion, analysts noted that tokens with concentrated holdings, restricted trading channels, and thin real buy-side interest are vulnerable to sharp declines when selling pressure emerges.