MemeCore's $M token collapsed roughly 75% in hours, from about $2.66 to near $0.50, wiping out close to $3 billion market cap with no hack or news to explain it.

The crash follows ZachXBT's warnings that insiders control over 90% of supply, with under $100K of onchain liquidity, fueling scrutiny of why Binance, Bybit, Kraken and Bitget listed it at all.

With $M's onchain market near-frozen — no transfer over $50K in two-plus weeks on BSC — the collapse is a reminder of how fragile heavily insider-held, paid-promotion tokens can be.