Memecore’s $830M Meltdown: The Rise, the Fall, and the ‘What Did We Just Watch?’

by

So, you know how some things go up, then suddenly… poof? That’s Memecore, baby. One minute it’s dancing in the top 20, the next it’s begging for a hug from a $3.43 price tag. Who needs stability when you’ve got drama?

Key Takeaways:

  • Memecore (M) plummeted 15.9% to a $3.43 low on Tuesday, erasing nearly $1 billion in market capitalization. Because nothing says “I’m a serious investment” like a 15.9% drop.
  • ZachXBT’s scrutiny of M and Kraken’s listing sparked fears of a RaveDAO-style collapse. Because nothing says “trust us” like a guy with a Twitter account and a penchant for drama.
  • Investors now watch if M will recover or become the next major dump after its 7,200% surge since July 4, 2025. Because why not? The rollercoaster’s just getting started.

Memecore Market Cap Erased

After riding high for weeks, the memecoin Memecore (M) finally tanked Tuesday, dropping to an intraday low of $3.43. While it later rebounded to $3.52, the coin was still down 15.9% in 24 hours. This marked the first time it had traded below $4 in more than seven days. The tumble saw M drop out of the top 20 digital assets by market capitalization tracked by Coingecko after its value fell from $5.4 billion to $4.57 billion. Because nothing says “I’m a safe bet” like a $5.4 billion valuation that’s now $4.57 billion. What a surprise!

The crash was a swift reversal of fortune, occurring just four days after the token peaked at a record $4.82. That rally had effectively doubled the asset’s value in April alone, triggering a red flag for prominent online sleuth ZachXBT. Fresh off exposing the opaque ownership structures within RaveDAO (RAVE), ZachXBT turned his lens toward the suspicious price action of M alongside SIREN, PIPPIN, and RIVER. Because why trust a coin when you can trust a guy who’s basically a crypto detective with a Twitter account?

In a post on X on April 20, ZachXBT also questioned Kraken’s decision to list the token and demanded to know how it had passed due diligence. Similar questioning by ZachXBT previously prompted exchanges such as Gate, Binance and Bitget to launch investigations that ultimately led to RAVE’s spectacular collapse. Because nothing says “trust us” like a guy who’s already caused one collapse and now wants to check your math.

The sleuth also accused unknown insiders of manipulating M’s price until it reached a market cap of $6 billion. ZachXBT suggested such a valuation was not backed by anything substantial except for the trade volumes generated on a launchpad. At the time, some Memecore supporters pushed back against this narrative, labeling it FUD (fear, uncertainty and doubt). Because nothing says “I’m a genius” like calling someone’s concerns “FUD” and then immediately crashing.

“In recent posts, the only achievement the team has shared is $66 million total volume on a launchpad and thousands of ‘users’ from its incentivized InfoFi campaigns,” ZachXBT wrote. Because nothing says “we’re legit” like a launchpad and a bunch of users who probably didn’t even know what a memecoin was.

While M’s monthly gains are markedly lower than those of RAVE, which exceeded 10,000% at one point, the token is up 7,200% since July 4, 2025. Meanwhile, some social media users are speculating whether M will become the latest token to “dump” just days after hitting a new all-time high. Because what’s a memecoin without a dramatic exit?!

Read More

2026-04-28 14:00