MemeCore’s “Proof of Meme” Challenges Traditional Crypto Incentives

MemeCore has launched a Layer 1 blockchain network designed to bring structure and sustainability to the volatile and speculative meme coin market. The EVM-compatible blockchain introduces a proprietary “Proof of Meme” (PoM) consensus mechanism, combining elements of Proof-of-Authority and delegated Proof-of-Stake, to reward contributors through quantifiable cultural and economic engagement. Validator roles rotate every 10 blocks, and participants earn $M tokens and MRC-20 meme tokens based on measurable contributions. Staking rewards are distributed across $M stakers (75%), meme token delegators (24%), and block proposers (1%) [2].

The platform’s native token, $M, has a capped supply of 10 billion tokens, with 5 billion currently issued and 1.03 billion in circulation as of September 1, 2025. The token has a market capitalization of $706 million and a fully diluted value of $6.79 billion. Token allocation prioritizes community incentives, with 58% dedicated to community participation, 15% to the foundation, 13% to core contributors, 12% to investors, and 2% to the Meme Treasury [2]. Each new meme coin on the platform mints 5% of its supply into a "Meme Vault," with a linear distribution of tokens over 1,000 days.

MemeCore also incorporates deflationary mechanisms, including permanent burns from transaction fees and staking locks that reduce the liquid supply. The platform supports a suite of dApps and infrastructure services, including MemeX for no-code token creation, PUPA for rapid token and NFT generation, and Everyswap for AMM-based decentralized exchanges. Gaming integration is led by Memes. War, a Telegram-based play-to-airdrop platform, and MemeCore supports external dApp onboarding through its LIFT Ecofund, offering up to $100,000 in grants [2].

The project has secured strategic investments from Waterdrip Capital, AC Capital, and IBC Ventures, and has partnered with the NEO blockchain for cross-chain functionality. $M is listed on multiple centralized exchanges, including Binance Alpha, Kraken, Bitget, and MEXC, with a 24-hour trading volume of $10.2 million on Bitget and $3.2 million on MEXC. Derivatives trading is also active, with daily futures volume exceeding $4 million and $M reaching an all-time high of $1.15 on August 30, 2025 [2].

MemeCore’s community-driven approach has been supported by high-profile marketing campaigns, including the “Trump Dinner” leaderboard and the “Proof-of-Shit” social campaign, which engaged over 3 million participants and distributed $700,000 to communities. The project has also participated in major crypto events such as Token2049 in Dubai and KBW 2024 in Hong Kong [2]. $M has experienced significant price appreciation, with a 40% 24-hour increase and a 276% rise in seven days, reaching new all-time highs [1].

However, the token’s recent price action shows signs of profit-taking, with $M dropping 10% in the last 24 hours after reaching $1.97 on September 7. Analysts, including crypto expert Tryrex, anticipate a sharp correction, predicting a potential drop to $1.35. Market indicators suggest overbought conditions, with an RSI of 94.65 and a long/short ratio of 0.49, indicating that two out of three traders are shorting the token [5]. Despite these bearish signals, MemeCore has announced a Buyback Program to support the token’s post-dip recovery using ecosystem-generated revenue [5].

As MemeCore’s momentum wanes, traders are shifting their attention to other projects such as Snorter (SNORT), a Solana-based meme coin with a trading bot offering advanced features for smaller traders. Snorter has raised $3.8 million in its presale, with whale participation increasing significantly [5]. This shift in interest reflects broader market dynamics, where capital is rotating out of high-profile meme coins and into emerging projects with strong utility and growth potential.

Source: [1] MemeCore Price Chart (M) - CoinGecko (https://www.coingecko.com/en/coins/memecore) [2] MemeCore Launches Layer 1 Blockchain to Structure ... (https://www.theblock.co/press-releases/369977/memecore-launches-layer-1-blockchain-to-structure-the-meme-coin-economy) [3] Why MemeCore, Four, and Ethena are rallying? (https://www.fxstreet.com/cryptocurrencies/news/crypto-gainers-memecore-leads-market-rebound-as-four-and-ethena-sustain-bullish-momentum-202509040340) [4] Cryptocurrencies Price Prediction: Memecore, Bitcoin & ... (https://www.fxstreet.com/cryptocurrencies/news/cryptocurrencies-price-prediction-memecore-bitcoin-ethena-asian-wrap-5-september-202509050536) [5] MemeCore Price Crash? Whales Are Pouring Gains Into ... (https://cryptodnes.bg/en/memecore-price-crash-whales-are-pouring-gains-into-snorter-token-instead/)