{"id":26341,"date":"2026-04-20T14:20:11","date_gmt":"2026-04-20T14:20:11","guid":{"rendered":"https:\/\/bitunikey.com\/news\/zachxbt-presses-memecore-over-6b-valuation-and-token-supply-concentration\/"},"modified":"2026-04-20T14:20:22","modified_gmt":"2026-04-20T14:20:22","slug":"zachxbt-presses-memecore-over-6b-valuation-and-token-supply-concentration","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/zachxbt-presses-memecore-over-6b-valuation-and-token-supply-concentration\/","title":{"rendered":"ZachXBT presses MemeCore over $6B valuation and token supply concentration"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p>On-chain sleuth ZachXBT has raised fresh questions over MemeCore\u2019s M token, urging the project to justify its multibillion-dollar valuation and clarify claims that insiders control more than 90% of the supply.<\/p>\n<div id=\"cn-block-summary-block_74f3fe08de93902e490857ac772b1746\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>ZachXBT questions MemeCore\u2019s valuation and asks for proof supporting its multibillion-dollar market cap.<\/li>\n<li>Blockchain data shows a large share of M token supply held by a few wallets, including a Binance deposit address.<\/li>\n<li>Scrutiny follows the recent RAVE token collapse, with investigators flagging similar price patterns across several tokens.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>According to <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/zachxbt\/status\/2046068618082095298?s=46&amp;t=DAM2VR_qZyvpc06deDa_Gg\" target=\"_blank\" rel=\"nofollow\">posts<\/a> on X, on-chain investigator ZachXBT has publicly pressed MemeCore to explain how its M token reached a multibillion-dollar valuation while a large share of supply appears concentrated among a few holders.<\/p>\n<p>\u201cPlease provide a single data point to support your $6B mkt cap at a top 20 token and why insiders hold &gt;90% of supply,\u201d ZachXBT wrote on Monday, responding to the project\u2019s claims of building a layer\u20131 blockchain for the \u201cMeme 2.0 economy.\u201d<\/p>\n<p>The remarks arrive at a time when the token has surged in price, drawing attention to how its market value is being calculated across platforms. CoinMarketCap placed the token at No. 21 with a valuation of $4.33 billion, while CoinGecko ranked it No. 20 at roughly $5.97 billion, pointing to a gap in reported figures across trackers.<\/p>\n<h1 class=\"wp-block-heading\">Token concentration raises questions<\/h1>\n<p>Blockchain data has added another layer to the discussion around distribution. Data from Bubblemaps shows that the Binance deposit address is the largest holder, controlling about 41.3% of the supply.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>The second-largest wallet, identified as \u201c0x8b8,\u201d holds 50 million M tokens worth around $178 million, accounting for 21.77% of the total supply.<\/p>\n<p>Bubblemaps analyst 0xToolman <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/investigator-concentration-concerns-memecore\" target=\"_blank\" rel=\"nofollow\">said<\/a> the pattern \u201clooks like team holdings,\u201d suggesting that a portion of the supply may not yet be circulating in the open market. No on-chain evidence has been shared so far to confirm the claim that insiders control more than 90% of the token supply, though ZachXBT said he would continue examining the data.<\/p>\n<h2 class=\"wp-block-heading\"><strong>RAVE collapse adds context to fresh scrutiny<\/strong><\/h2>\n<p>The latest questions around MemeCore follow a sharp fallout tied to another token that recently drew attention from the same investigator.<\/p>\n<p>\u201cOther projects with highly questionable price action recently include: SIREN, MYX, COAI, M, PIPPIN, RIVER,\u201d ZachXBT wrote in a separate post over the weekend, adding that he plans to review these tokens to identify potential manipulation.<\/p>\n<p>Rave DAO\u2019s token became a focal point after it surged from $0.25 to nearly $28 within days before losing more than 80% of its value. ZachXBT alleged that the move carried signs of a coordinated pump-and-dump, pointing to concentrated holdings and unusual exchange flows.<\/p>\n<p>RaveDAO has rejected the accusation, maintaining that it was not involved in the price spike or the subsequent crash. Binance and Bitget have both said they are reviewing the situation.<\/p>\n<p>Market data shows the RAVE token has fallen 92% over the past week and was trading above $0.69 as of 12:46 p.m. UTC on Monday, according to CoinMarketCap.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>On-chain sleuth ZachXBT has raised fresh questions over MemeCore\u2019s M token, urging the project to justify its multibillion-dollar valuation and clarify claims that insiders control more than 90% of the&hellip;<\/p>\n","protected":false},"author":1,"featured_media":26342,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-26341","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/26341","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=26341"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/26341\/revisions"}],"predecessor-version":[{"id":26343,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/26341\/revisions\/26343"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/26342"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=26341"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=26341"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=26341"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}