MemeCore’s Foundation announced a US$10 million treasury buyback on July 2, and M jumped 79% in a week. The wallet the Foundation told everyone to watch has not received one token.
M traded near $1.48 on Thursday evening, down 15.8% on the day after touching $1.82 in the morning, per CoinGecko. The bounce started from $0.589 on June 29.
Nine days before that low, the token was a $3.84 billion asset priced at $2.92.
Sellers outnumbered buyers on-chain through the entire rebound.
MemeCore 7 day chart on July 3, 2026. Price $1.48, up 79.3% in seven days from a $0.5385 low, after an intraday high of $1.82. Source: CoinGecko
The Buyback Address Shows a Zero Balance
The July 2 statement commits the Foundation to buy back at least US$10 million of M and names one destination for every repurchased token: 0xf0Fe619A8A8C3e65966EEf2E447aD1d54a13C511. CryptoNewsLive checked that address on MemeCoreScan at 6:40 PM UTC+3 on July 3. Balance, zero. Transactions, zero.
The same address holds nothing on BNB Chain either. The Foundation wrote that execution will stay undisclosed to limit front-running and that buying “may have already commenced.” Purchases could sit on exchange accounts for now. More than a day after the pledge, though, the only address the public can verify remains untouched.
The disclosed buyback destination wallet on MemeCoreScan, July 3, 2026, 6:40 PM UTC+3. M balance 0, transactions sent none, never funded. Source: MemeCoreScan
The MemeCore Foundation statement of July 2, 2026 announcing the US$10M+ buyback and naming the treasury wallet. Source: X (@MemeCore_M)
The Last Buyback Pop Faded Within a Week
MemeCore has run this play before. On April 22 the MemeMax platform pledged 80% of its trading fee profits to M buybacks, in a post the official account still pins. M closed that day at $4.31, up 22%, and reached $4.51 on April 24. Seven days after the pledge it traded at $3.40, a fifth below the announcement day close. That is a recorded pattern, not a forecast.
MemeCore 3 month chart on July 3, 2026, down 45.0%. The April buyback peak of $4.51 and the late June collapse to $0.589 are both visible, a 665% trading range in 90 days. Source: CoinGecko
A Crash Nobody Has Explained
The token fell from a $2.66 close on June 24 to $1.00 a day later. By June 29 it was $0.589, per CoinGecko daily data. BeInCrypto counted roughly $3 billion of market value erased. The Foundation says its internal and on-chain review found no protocol issue, no Foundation token sales, and no unusual treasury activity. It blames concentrated sell-side market orders it cannot attribute to any source.
Investigator ZachXBT reads it differently. In an April 20 post he asked how M passed Kraken’s listing due diligence. He pointed to $7.9 million withdrawn to 18 freshly created addresses and called the market cap insider driven. On June 25 he described the crash as “the MemeCore teams $M manipulation.” Neither claim has been tested in any formal proceeding, and this pattern of blacklists next to heavy insider supply has appeared in prior CryptoNewsLive investigations.
ZachXBT’s April 20, 2026 thread naming a suspected team address that received 200M M at TGE and sent 5.3M M to Kraken deposit addresses on July 3, 2025. Source: X (@zachxbt)
56 Million Tokens Hit the Float the Next Morning
DeFiLlama’s vesting tracker logged a scheduled release of 56.02 million M at 8:30 AM GMT+3 on July 3, valued at $87.53 million. That is 4.25% of the circulating float in one morning. Community wallets took 24.31M, investors 12.5M, the Foundation 11.67M, the team 7.64 million.
An identical batch lands on August 2. The schedule runs monthly into 2031, and 81.35% of the 5 billion TGE tokens remain locked. MemeCore’s own docs publish the allocation chart with no dates on it, so the calendar exists only on third party trackers. CryptoNewsLive covered the same setup, heavy whale ownership ahead of a vesting date, at Meteora in June.
DeFiLlama vesting schedule for MemeCore, July 3, 2026. 81.35% of the 5B TGE allocation still locked. The June 2, July 3 and August 2 events each release 56.02M tokens, 4.25% of float. Source: DeFiLlama
The Contract Freezes Wallets. It Froze Its Biggest Holder.
On BNB Chain, where all DEX trading in M happens, the token is an upgradeable proxy. The verified source code gives the owner three powers. addToBlacklist() blocks every transfer in or out for any address it targets. mint() creates tokens with no cap in the code, limited only by allowances the owner sets. upgradeToAndCall() replaces the contract logic entirely. Ownership sits with a multisig and has not been renounced.
The blacklist is not theoretical. It holds two addresses today. One is the largest BSC holder, 0x05CB186A, frozen with 95,058,050 M worth about $140 million, 41.4% of the bridged supply. That wallet received the full amount on July 27, 2025 from the other blacklisted address and has never moved a token since.
The freeze has been in place since the summer of 2025.
Another 50 million M, 21.8% of the bridged supply, was minted directly to a wallet that has never sent a single transaction. Two wallets, both regular private key accounts, hold 63.21% of everything trackable on BSCScan. Neither moved anything to an exchange in the last 48 hours. CryptoNewsLive flagged the same owner freeze power at BAS in June.
The scanner honeypot.is fails the token outright, and its holder sample found 42 of 893 addresses unable to sell. Taxes are 0% and sells clear normally for everyone off the list. The PancakeSwap pool processed 8,584 sell transactions in the past 24 hours.
BSCScan holder distribution for the BSC version of M, July 3, 2026. Top 100 addresses hold 99.94%. The 41.42% top wallet is on the contract’s blacklist. Source: BSCScan
M Token Write Contract tab. Function #2 addToBlacklist (0x44337ea1), #8 mint (0x40c10f19), #12 setMinter (0x9ce38998) and #16 upgradeToAndCall (0x4f1ef286) confirmed on-chain. Source: BSCScan
What a Six Figure Order Actually Costs
Matcha quotes tell the practical story. A $1,000 buy or sell moves the price about 1%. At $10,000 the impact is 3.65% buying and 3.62% selling. At 100000 dollars it becomes 57.71% on the buy side and 27.96% on the sell side, quoted at 6:25 PM UTC+3 on July 3. The two main BSC pools hold near $145,000 combined against a $1.95 billion market cap.
CoinGecko’s markets tab adds a wrinkle. DigiFinex reports $24.6 million of daily M volume, 51% of the total, at a stale $10.22 price with a 99.92% spread and zero measurable depth. Whoever sizes a position off the headline volume number is using data that is half broken.
The 90 day realized range is 665%. The 30 day range is 474%. Position sizing that ignores this gets carried out on a stretcher.
Matcha quote, July 3, 2026, 6:25 PM UTC+3. A $100,000 USDT buy of M returns tokens worth $42,251, a 57.71% price impact, routed through Uniswap and PancakeSwap on BNB Chain. Source: Matcha
The Rest of the Checklist
Meme sector peers moved single digits this week. Dogecoin added 2.4% in a day, Pepe 8.7% in a week, and the category rose 1.7%, so M’s swings are entirely its own. The memecore-foundation GitHub shows one public repository, Go-MemeCore, last updated February 20. No third party audit is linked on BSCScan. No funding round appears on DeFiLlama’s raises database and its hacks database lists no exploit for the project. The team page does not exist; IQ.wiki names founder Jun Ahn and the site footer names Anteater Labs Pte. Ltd.
One number checks out cleanly. Tracked vesting releases of 932.5 million tokens plus roughly 387 million mined block rewards match the 1.32 billion circulating supply CoinGecko reports. Issuance is running at the published pace. Kraken has quoted the pair since July 3, 2025, the token’s first trading day, per GeckoTerminal pool records.
What to Watch Next
August 2, 2026, 7:00 PM GMT+3. The next scheduled vesting release of 56.02 million M, worth $87.53 million at listing. The split per DeFiLlama: 24.31M community, 12.5M investors, 11.67M Foundation, 7.64M team.
September 2, 2026. The following monthly batch of the same size, event six of 25 on the DeFiLlama schedule that runs into 2031.
Any first deposit into 0xf0Fe619A8A8C3e65966EEf2E447aD1d54a13C511. The Foundation stated every repurchased token will land at this address. MemeCoreScan shows each inbound transfer in real time, so the buyback becomes verifiable the moment it touches the chain.
