Markets· ★★· bearish·

MemeCore Falls 10% to $0.92 as Long-Heavy Positioning Unwinds

  • —M trades at $0.9185, down 10.1% in 24 hours, market cap $2.1 billion
  • —Open interest rose 28% to $6.8 million, with longs at 54% of exposure
  • —99.8% of M's transfer volume flagged as wash-traded across 238 wallets
  • —Token is 79.5% below its April 26 all-time high of $4.4907
Why it matters: Thin spot liquidity and crowded longs leave M exposed to further cascading liquidations on any renewed price decline.
#M
Source: Coincu
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