ZachXBT Questions MemeCore Valuation and Token Supply Following RAVE Collapse

On-chain investigator ZachXBT has intensified his scrutiny of the MemeCore ($M) project, following price volatility in RaveDAO that shifted market attention toward MemeCore's ranking as a top 20 token. This surge in visibility has amplified concerns over its $6 billion valuation, with analysts noting that shallow order books significantly increase the risk of sharp price volatility. Furthermore, the validity of MemeCore's market cap ranking is being questioned due to its extremely limited circulating float and allegations that insiders control over 90% of the supply. In response to criticisms regarding Kraken’s due diligence, parent company Payward highlighted its involvement in 'Operation Atlantic,' a joint law enforcement initiative targeting financial crime. Market sentiment remains bearish as institutional listing standards and supply concentration remain under intense scrutiny. The initiative has already identified over $45 million in suspected criminal proceeds globally.