Memecore Falls 15.9% to $3.43, $830M Erased

Memecore fell 15.9% to an intraday low of $3.43 on Tuesday, wiping about $830 million from its market capitalization and removing the token from the top 20 digital assets by market value. The token later traded near $3.52 but remained sharply lower on the day.

The decline reduced Memecore’s market cap from roughly $5.4 billion to about $4.57 billion, according to price trackers. The drop occurred four days after the token reached a record high of $4.82 following rapid gains that doubled its value in April. Memecore has gained roughly 7,200% since July 4, 2025.

On April 20, investigator ZachXBT flagged Memecore’s price action and questioned how exchanges handled its listings and whether the valuation reflected meaningful backing. He highlighted the token alongside SIREN, PIPPIN and RIVER and raised questions about Kraken’s decision to list the asset.

ZachXBT also accused unnamed insiders of influencing Memecore’s price as it neared an alleged $6 billion market cap and pointed to trading volumes generated on a launchpad and promotional campaigns. He wrote: ‘In recent posts, the only achievement the team has shared is $66 million total volume on a launchpad and thousands of ‘‘users’’ from its incentivized InfoFi campaigns.’

Earlier scrutiny by the same investigator led exchanges Gate, Binance and Bitget to open probes into RaveDAO; that token later collapsed. The comparison has prompted traders to re-examine Memecore’s trading patterns.

Trading data showed a substantial portion of Memecore’s volume tied to launchpad-driven activity and incentivized campaigns rather than organic exchange demand. Market participants monitored order books and volume for signs of continued selling or renewed buying interest.

Social media posts debated whether Memecore would recover from the sell-off or face further rapid declines after its recent peak. Traders and analysts continue to watch exchange flows and on-chain indicators for further signals.