UPDATE: A token with a $14 BILLION valuation just crashed 75% in hours.
MemeCore $M plunged from around $2.80 to nearly $0.50.
Wiping out billions in market value and exposing a question crypto keeps asking:
How do these tokens get so big in the first place?
According to on-chain investigator , the warning signs were there for months:
Alleged insider supply concentration.
Questionable user growth metrics.
Almost no meaningful on-chain activity.
Less than $100K DEX liquidity despite a multi-billion-dollar valuation.
Yet the token still landed listings on major exchanges, including spot and perpetual futures markets.
No hack.
No exploit.
No protocol failure.
Just a token that appeared worth billions until the market decided it wasn't.
ZachXBT is now calling for answers from exchanges over why highly concentrated and potentially manipulated tokens continue getting listed while retail traders are left holding the bag.
This is a reminder that in crypto, a multi-billion-dollar market cap doesn't always mean real adoption.
Sometimes it just means nobody has started selling yet.
