MemeCore Crashes 75% As ZachXBT Questions Exchange Listings

MemeCore’s M token crashed more than 75% in 24 hours, triggering fresh scrutiny over how the token reached major exchange markets.

M traded near $0.73, after falling from a 24-hour high of $2.66 to a low of $0.50. The token was down about 74% on the day, with 24-hour volume near $20 million and market cap just under $1 billion.

The collapse followed earlier red flags around M’s valuation, supply concentration and centralized exchange access. ZachXBT had already questioned the token in April, and the latest price break pushed those concerns back into the open.

The onchain investigator asked, “How many retail investors lost funds due to the MemeCore team’s $M manipulation?” He also challenged the listing decisions, asking, “Why did Kraken and Bitget list M spot?” and “Why did Binance list M perps?”

Kraken, Bitget And Binance Face Listing Questions

MemeCore had access to several major trading routes before the crash. Bitget opened M/USDT spot trading in July 2025 through its Innovation, Public Chain and Meme Zone. Binance Futures opened the MUSDT perpetual contract with up to 50x leverage four days later.

Kraken also supports M trading, putting all three platforms inside ZachXBT’s criticism after the token’s collapse. Listing access gave M more liquidity, more visibility and a route into retail accounts before the sharp drawdown.

ZachXBT said the community needs “transparency” over why a project with “numerous red flags” was listed. He argued that these listings “further harm retail traders” and damage the industry’s reputation.

The criticism lands after ZachXBT had already downgraded Kraken over token-listing due diligence and breach-response concerns. The M crash now puts that same listing-quality debate back on Kraken, while Bitget and Binance face questions over spot and leverage access.

Earlier Red Flags Return After The Dump

ZachXBT had previously questioned MemeCore’s valuation and token supply, including concerns around insider concentration and suspicious exchange-linked flows. Those allegations have not been tested in court, and the latest crash does not by itself prove manipulation.

The price action still puts exchange listing standards back under pressure. Traders are now asking how listing teams assessed M’s token distribution, circulating supply, liquidity depth, market-maker structure and retail risk before opening spot or derivatives markets.

ZachXBT’s earlier scrutiny of LAB’s private loans, vesting changes and supply control had already pushed similar questions around opaque token structures and retail disclosure. MemeCore now adds a sharper exchange-listing angle because the token had spot access and leveraged derivatives exposure before the collapse.

MemeCore’s pitch centers on a Layer 1 network for “Meme 2.0,” creator communities, social mining and meme-driven apps. The token’s 24-hour collapse has shifted attention away from that narrative and toward exchange due diligence, liquidity quality and who held supply before the dump.