MemeCore ($M) has surged into the spotlight, but for all the wrong reasons. While the token’s price action on the daily charts looks like a dream for bulls, a series of onchain investigations have pulled back the curtain on a troubling reality: extreme supply concentration.
Recent reports suggest that over 90% of MemeCore’s supply is held by a tight cluster of insider wallets, creating what experts call a "ghost market cap." This structure mimics the architectural flaws seen in RaveDAO (RAVE), which recently suffered a catastrophic 95% wipeout.
What is a "Ghost Market Cap"?
The term "ghost market cap" refers to a project with a multi-billion dollar valuation on paper, but with very little actual liquidity or "free float" (tokens available for the public to trade).
- Valuation: MemeCore currently boasts a market cap north of $5.5 billion.
- The Discrepancy: Despite this massive valuation, its 24-hour trading volume often struggles to stay above $30 million.
- The Risk: When insiders control the vast majority of tokens, they can manipulate the price with r...
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