MemeCore Falls 23% in Seven Days as New Bridge Routes Open

MemeCore (M) lost 23% in the seven days through Monday afternoon, far exceeding the broader crypto market's 3.4% decline as new bridge routes became available.

At 4:38 p.m. ET (20:38 UTC) Oct. 19, M traded at $0.7218, giving it a market capitalization of about $1.65 billion. About 2.288 billion M was circulating at the time.

M traded between $0.6638 and $0.9426 during the seven-day period. The move from that high to the low was 29.6%, a separate measure from the token's 23% rolling seven-day decline.

MemeCore announced its LayerZero and Stargate integration Oct. 15. The routes allow holders to move M between MemeCore, BNB Smart Chain and Base. LayerZero handles communication between blockchains, while Stargate provides the transfer interface.

M is used for transaction fees, staking and rewards on MemeCore's network. The added routes expanded where holders can transfer the token during a week when its price fell more sharply than the broader market.

A scheduled unlock will release 56.11 million M on Nov. 1 at 6:44 p.m. ET (23:44 UTC). That is equivalent to about 2.45% of circulating supply.