MemeCore token price rises amid high whale concentration

MemeCore (M) has experienced a price surge, rising 11% in 24 hours to approximately $0.96, even as Bitcoin prices declined. Despite the upward movement, some market indicators show divergence; while the token's Open Interest has increased significantly—rising 28% to $6.8 million or up to $34 million depending on the metric—trading volume has slipped by 4% to $3.79 million.

Data regarding supply distribution reveals high concentration among large holders. On the BNB Chain, the top 100 wallets control 99.99% of the tracked supply, with only 44 whales controlling 99.89% of the market capitalization. The Gini score for these tracked wallets stands at 0.9996, indicating extreme inequality in token distribution. Currently, only about 22.9% of the 10 billion maximum supply is in circulation.