MemeCore's Market Capitalization Under Scrutiny

The cryptocurrency landscape has seen a surge in tokens vying for top spots in terms of market capitalization. Recently, MemeCore, a Layer 1 blockchain built for Meme 2.0, found itself in the spotlight after being included in Grayscale's top 20 token ranking list.

However, this achievement was short-lived as pseudonymous blockchain investigator ZachXBT took to X to express his concerns about MemeCore's market capitalization and price volatility. In a scathing reply to a MemeCore post, ZachXBT questioned the token's $6 billion market cap and its ranking in the top 20 tokens by market cap.

According to Grayscale's list, published on April 2nd, MemeCore was included alongside prominent tokens like Bitcoin, Ethereum, and Solana. The inclusion sparked celebration among MemeCore enthusiasts, with the token taking to X on April 20th to announce its recognition.

In a witty jab at MemeCore, ZachXBT responded by saying 'Officially recognized on @ZachXBT! We're just getting started.' This was accompanied by screenshots highlighting RaveDAO's extreme price volatility, which had surged by over 216% in the past 24 hours. MemeCore was also mentioned in this list, with its own surge of 27% in the past week.

The crypto community is divided on this issue, with some supporting ZachXBT's sentiments and others defending MemeCore's achievements. An X user pointed out that MemeCore doesn't rely solely on price actions, but also has offline events and campaigns like AntsMaker and MemeX to keep holders engaged.

As the debate continues, a question arises about the reliability of Grayscale's token ranking. With different rankings across CoinMarketCap and CoinGecko, it's difficult to determine who is right in this dispute. Unless MemeCore provides a full background of its growth, it remains uncertain whether its ranking is justified.