The timing points to supply, not a new product failure
The most direct project-specific explanation is MemeCore’s scheduled release of 56.11 million M tokens on November 1. That amount represents approximately 2.8% of the circulating supply, according to CoinDesk’s crypto week ahead report.
A token unlock does not automatically mean that the newly released coins are sold. Some may be allocated to investors, contributors, ecosystem programs or treasury accounts. However, the market generally prices in the possibility of additional supply before the event occurs. Holders who expect recipients to sell may reduce their positions ahead of the unlock, creating pressure before the tokens even reach exchanges.
That appears to fit MemeCore’s move. The decline was measured on the same date as the scheduled release, while the wider market was already operating in a risk-reduction mode. The coincidence does not establish that every unlocked token was sold, but it makes the unlock the strongest immediate explanation for the timing.
The effect can be amplified when a token has a large gap between circulating supply and fully diluted supply. CoinDesk lists MemeCore as having approximately 2.29 billion circulating M tokens against total supply of about 5.43 billion. That structure leaves investors focused not only on current demand, but also on how quickly additional supply may enter the market.
Why MemeCore is especially sensitive to supply headlines
MemeCore is not simply marketed as a meme token. It is a Layer 1 blockchain built around the project’s “Meme 2.0” concept, with its M token used for transaction fees, staking, governance and validator participation. The network also promotes Meme Vaults, MRC-20 tokens, a launchpad called MemeX and a reward system tied to cultural and on-chain activity. CoinDesk’s MemeCore profile describes the project as an EVM-compatible blockchain designed to give meme-driven projects infrastructure and incentives beyond short-lived speculation.
That technology narrative gives M a potential use case, but it also creates a demanding valuation test. For the token to absorb new supply, traders need evidence that the network is attracting users, developers, transactions and valuable applications. A launchpad, staking system and ecosystem incentives can create activity, but they also require sustained participation. When risk appetite falls, investors tend to ask whether that activity represents durable adoption or temporary token incentives.
The asset therefore trades on two narratives at once. It is a bet on a specialized blockchain for meme economies, and it is also a high-beta meme market proxy. The second narrative becomes dominant when traders are forced to reduce leverage. That makes an unlock more powerful than it would be for an established network with deep liquidity and a broad base of fundamental buyers.
The wider market made the decline sharper
MemeCore’s drop came after a difficult stretch for crypto markets. Bitcoin fell below $77,000 on October 30 as a $6.3 billion Binance exploit combined with weakness in technology stocks and concerns about excessive artificial intelligence spending. CoinDesk reported that the Nasdaq fell more than 3% during the session while Bitcoin lost nearly 5% over 24 hours.
The market had already been weakening before that shock. Bitcoin, Ether and the CoinDesk Memecoin Index all fell on October 29, with the memecoin index losing 3.4%. The same report linked the pressure to a hawkish Federal Reserve signal and disappointing results from Alphabet and Samsung. CoinDesk’s market coverage showed that speculative sectors were underperforming larger cryptocurrencies.
That backdrop matters because M does not need a uniquely negative headline to fall more than the market. When Bitcoin declines, traders often sell smaller altcoins first because they are more volatile and have thinner order books. When a known supply event arrives at the same time, the market can treat it as a reason to accelerate an existing move.
The deeper risk is confidence in future demand
The most likely sequence is therefore straightforward: traders anticipated the November 1 unlock, broader risk aversion reduced the pool of buyers, and the meme-linked character of M magnified the selling.
Earlier concerns about token concentration may also be influencing that reaction. Cointelegraph reported in April that on-chain investigator ZachXBT questioned MemeCore’s valuation and alleged that insiders held more than 90% of the supply. Those claims were not independently established in the report, but they remain relevant to market psychology. If traders believe a relatively small number of holders can influence supply, each unlock becomes a more important event.
The 13.3% decline is thus best read as a supply and liquidity event inside a broader risk-off market, rather than evidence of a breakdown in MemeCore’s blockchain technology. The project’s long-term test is whether ecosystem usage can grow faster than the market’s concern about dilution. Until that happens, scheduled releases are likely to remain central to how M is priced.
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Read and checked by admin on 11/2/2026
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