Memecore’s price didn’t just drop last week. It fell to the floor of the traders who thought it was made of concrete. Between June 22 and June 29, the index fell by about 82%, passing through major support levels with alarming speed. The reaction across the industry was swift and brutal.
A case of fraud appeared. The idea of spraying and dumping spread quickly. Insider trading became the preferred description of the market.
Then something unexpected happened. The same stock that fell to $ 0.51 suddenly found buyers. By July, M’s price had risen to $1.80 before cooling slightly to around $1.39 today, leaving traders wondering what had changed in less than three days.
Memecore’s Official Word Begins to Convince Sellers
First of all answer The defacement of the post came on June 30. An official article on X issued a security warning by showing fake websites and projects imitating Memecore, specifically pointing to an unrelated project operating on the Solana network using the same name.
The group also warned users against websites that promote fake rewards or airdrops and urged investors to rely on legitimate communication channels. The post didn’t stop the speculation, but it changed the conversation.
Foundation Refuses to Sell During a Downtime
Soon, the foundation to be said market fear directly. According to his statement, no protocol problems, infrastructure failures or operational disruptions were identified. The foundation also said that it did not sell tokens during the period of volatility and that asset activity was normal throughout the selloff.
In fact, the group said that a large amount of strong selling entered the markets in the short term, and most of it was said to be done as market movements rather than traditional limits.
Buyback Program Changes Market News Quickly
Then it came to announce which attracted attention. On July 2, the foundation approved an asset purchase program worth about $10 million. This project is part of the financial management and ecosystem support process, with redeemable tokens going to the Treasury Wallet foundation.
Importantly, the agency said it would not disclose the timing or the measures to reduce lead and speculative trading.
Now, as the story goes, whether this explains the recovery or is simply related to it is open to debate.
But, what cannot be doubted is that The price of Memecore shares it went from being underwritten by most of the market to becoming one of the weekly crypto comeback stories in less than a week.
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