Market Meltdown: MemeCore Crashes 76% as MIM Breaks Peg to $0.50
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In the past 24 hours crypto markets saw sharp losses with MemeCore’s M token plunging 76% and Audiera (BEAT) sliding 32%, ranking as the worst performers per CoinGecko. DeFi stablecoin Magic Internet Money (MIM) lost its dollar peg and fell to about $0.50, prompting the Abracadabra team to scramble to shore up the protocol and limit contagion risk.
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It’s been a difficult 24 hours for several digital assets, including MemeCore’s M token, which dropped 76%, and viral altcoin Audiera (BEAT), which shaved off 32% of its value, making them the two worst performers in that period according to CoinGecko data.
Meanwhile, Magic Internet Money (MIM) also fell to about $0.50 after losing its dollar peg, triggering a scramble by the Abracadabra team behind it to stop it from falling further.
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