ZachXBT Raises Concerns Over MemeCoin MemeCore

Blockchain investigator ZachXBT has expressed skepticism about the meme token MemeCore M due to its high market capitalization and insider coin concentration. He recently warned about a potential pump-and-dump scheme involving the cryptocurrency RaveDAO RAVE .
You ve been officially recognized by me. And I m just getting warmed up. Please provide any data explaining why your cryptocurrency s market capitalization reaches 6 billion, placing it in the top 20 digital assets by this metric, while insiders hold over 90 of the coin supply,
ZachXBT stated in response to MemeCore s announcement.
MemeCore is considered overvalued because its platform for launching and promoting meme tokens does not justify a 6.2 billion market capitalization. The concentration of coins among a single group of investors increases the risk of market manipulation.
ZachXBT fears that wealthy MemeCore holders may be planning a pump-and-dump scheme. The price of the cryptocurrency surged over three times in a month but is currently correcting after a bullish trend. Typically, the dump phase follows an exponential price increase.