Memecore coins have been rebounding rapidly in recent days after a sharp fall in late June. According to Coinpedia, the token fell cumulatively by about 82 per cent between 22 and 29 June, at one point to $0.51 and then to $1.80 at the beginning of July, with the latest return to about $1.39.
The fall raised market questions about the concentration of project fundamentals. Conjectures about fraud, overloading and sales by insiders have spread rapidly and have become the main thrust of discussions following the collapse of prices.
The foundation denies that the agreement and the operation are unusual.
On 30 June, the Memecore official X account issued a security alert stating that a false website and project in the name of Memecore had appeared on the market, with particular reference to a project of the same name but not related to the Solana network.
Subsequently, the Foundation further responded that no fault of the agreement, unusual infrastructure or disruption of operations had been detected and that no tokens had been sold during periods of sharp price fluctuations. The Foundation indicated that the functioning of the treasury remained normal during the downturn.
Thrust interpretation points to short-term concentration.
According to the projecters, the fall was more like a high-volume sale in a short time. Related transactions are said to be more carried out on market price lists than on the usual price limit lists, which allow prices to be quickly traced when liquidity is inadequate.
This statement does not completely calm the dispute, but at least provides the market with an interpretative framework different from “project-party sales”.
$10 million in buybacks to attract market attention.
More focused actions appear on July 2nd. The Foundation approved a strategic treasury buy-back plan of at least $10 million as part of its treasury management and ecological support arrangements. Repurchases will be transferred to the Fund ' s treasury wallet.
At the same time, the projector stated that, in order to reduce the looting and speculative transactions, no specific time and manner of implementation would be disclosed. As repurchase plans were announced, the market focus began to shift from the cause of the collapse to whether repurchases had facilitated price repair.
As a result, Memecore completed the switch in a short period of time, from being sold in large quantities by the market to a quick rebound. However, there is still a lack of additional public data to support whether this round of rebounds is driven primarily by expectations of buy-backs, or is it occurring in tandem with the return of phased funds.