MemeCore's M token suddenly crashes 80% with no clear trigger

Meme.com's M token experienced an 80% price crash on June 11, 2024, plummeting from approximately $3 to $0.50 within hours. This rapid decline erased nearly $3 billion in market capitalization. No security exploit or official announcement from Meme.com has been identified as the cause for this significant drop. Concerns about the token's valuation were previously raised by on-chain investigator ZachXBT in April, who warned that the M token's price had been artificially inflated by individuals with insider knowledge. The sudden and substantial loss of value has led to widespread speculation within the cryptocurrency community regarding the underlying reasons for the sell-off.