ZachXBT alleges Memecore insiders hold over 90% of supply

On-chain analyst ZachXBT, who previously alleged price manipulation in RaveDAO (RAVE), has now turned his criticism to Memecore (M). On X, he challenged the project to provide data justifying its position as a top-20 cryptocurrency with a $6 billion market capitalization and to explain why insiders hold over 90% of the M supply. The analyst has recently posted a series of warnings about tokens that have surged in price, such as RAVE, alleging that their teams hold the majority of the supply to manipulate prices. He had previously flagged suspicious price movements in other tokens, including SIREN, MYX, COAI, PIPPIN, and RIVER. Following ZachXBT's comments, M fell from the $3.4 level and is currently trading at $3.18, down 8.29% from yesterday.