XRP
June 30, 2026
XRPL Lending Protocol Enters Final Voting Stage as XRP Targets $1.20 in July
- ZachXBT renewed criticism of MemeCore after the price of the M token crashed 75% before staging a sharp recovery
- He questioned how a token valued at nearly $14 billion traded with less than $100,000 in reported on-chain liquidity
- MemeCore denied any protocol issues or foundation token sales, but the rally has done little to silence concerns over liquidity and token concentration
MemeCore has pulled off one of the wildest reversals in crypto this week. After the MemeCore price plunged more than 75% and erased billions from its fully diluted valuation, the token rebounded sharply, climbing over 90% in a day. The rally has revived debate around the project’s valuation. This was mostly after ZachXBT’s earlier warnings about liquidity and token concentration resurfaced. As traders chase the recovery, the bigger questions surrounding MemeCore remain unresolved.
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ZachXBT’s Liquidity Concerns Return as MemeCore Price Rebounds
MemeCore’s latest rebound in its price has put fresh attention on concerns first raised by on-chain investigator ZachXBT five days ago. Following the initial collapse, he questioned how the M token reached a fully diluted valuation of roughly $14 billion despite what he described as extremely limited on-chain activity.
Citing data from Arkham Intelligence, ZachXBT said there had not been a single transfer worth more than $50,000 on BNB Chain in over two weeks. He also pointed to DexScreener data showing less than $100,000 in liquidity across on-chain trading pools. This is a figure many traders viewed as unusually low for a token carrying a multibillion-dollar valuation.
The criticism extended beyond MemeCore itself. ZachXBT also questioned why Binance and Bybit listed perpetual futures tied to the asset. Meanwhile, other exchanges supported spot trading despite ongoing concerns around liquidity and token ownership.
Earlier research from Bubblemaps also revealed concentrated MemeCore holdings. But the analytics firm noted that concentrated ownership alone does not prove coordinated market manipulation because some wallets could point out locked allocations.
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MemeCore Says Operations Remain Normal Despite Volatility
The MemeCore price recovered strongly over the past 24 hours following the crash. At press time, MemeCore was trading at $1.19. This is after the project issued a public statement saying it had found no confirmed issues affecting its protocol or infrastructure. The team also said the MemeCore Foundation had not sold any tokens during the recent volatility and that development continued as planned.
MemeCore’s price recovery wasn’t driven by spot buying alone. CoinGlass data shows liquidation activity surged as the M token reversed higher, with nearly $1 million in short positions wiped out over the past 24 hours. This wave of forced buying added fuel to the rally, helping extend the rebound after the token’s earlier collapse.
Even with the rebound, the discussion has shifted beyond price. The recovery has done little to settle questions about liquidity, token concentration, and whether MemeCore’s valuation accurately reflected market activity. For many traders, the latest rally has become another reminder that sharp recoveries do not automatically erase concerns raised before a crash.
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