Originally published at mrnasdog.com/research/memecore/inflation by MrNasDog.
Main page: the full M coin page — signal, price drivers and the buy/sell questions → mrnasdog.com/research/memecore
M Inflation Analysis · October 2026 · Supply growing · projected to keep growing
M, the coin of the MemeCore Layer 1, grew its circulating supply by +42.00% in the 90 days to Oct 23 2026. Almost all of it was one event: on Aug 19 2026 a MemeCore reserve wallet released 925.93M M to the treasury of ZeroStack, a Nasdaq-listed company. Block rewards added 33.33M M, and the base-fee burn removed only about 607 M. For the next 90 days the MemeCore ledger shows about +1.46%, from block rewards alone, while 3.14B M still sits in reserve and custody wallets with no public release date.
The verdict, in one paragraph
M supply rose +42.00% over the last 90 days: 961.65M M of new sell-side supply against a 607 M burn, on a circulating base of 2.29B M. Other trackers show +72.63% for the same 90 days, a gap of 30.63 points. They see the same coins move; their percentage is larger only because it starts from July’s much smaller count of M in circulation, about 1.33B. No flow is missing, so no warning flag is shown. Next 90 days: about +1.46%. MemeCore is a chain whose supply moves in steps: a slow, fixed block reward, and rare, very large releases from team-held reserves.
Sell pressure: where new M comes from
Protocol inflation: 33.33M M. Every MemeCore block, one every 7 seconds, mints 30 M for the validators and delegators who secure the chain under its Proof of Meme consensus. The reward was 112.5 M per block until block 2,300,000 in July 2025 and has been 30 M since. Over the 1,110,856 blocks between Jul 25 and Oct 23 2026 that came to 33.33M M, about 370K a day, and the same amount is due in the next 90 days. The client code has no further reward cut scheduled, and MemeCore’s cap of 10B M is reached only through these block rewards.
Vesting unlocks: 0. Unlock calendars list about 56.11M M a month for the team, investors, the Foundation and the community, with tranches dated around Aug 3, Sep 3 and Oct 3 2026. On-chain, the custody wallets that hold those shares did not send out a single M in the window, and the circulating count did not step up on any of those dates. Calendar tranches that never leave their wallets are not new supply yet, so this row is zero.
Foundation and unscheduled unlocks: 928.33M M. This is the row that moved M. On Aug 19 2026 a MemeCore reserve wallet sent out 925.93M M in two equal transfers. Through a bridge they reached the treasury of ZeroStack Corp., which filed the same day that it had acquired 925,925,926 M, worth about $1B at $1.08, in exchange for its shares and warrants. The circulating count of M jumped by about 924M the next day. A Foundation payout wallet also sent 2.40M M to various addresses between Sep 19 and Sep 29 2026. Neither wallet has a release schedule, so the next 90 days carry zero for this row.
Long-term locked or bankruptcy: 0. No court-held or bankruptcy pile of M exists. ZeroStack’s coins already count as circulating; the company says it will not stake them and holds them as a long-term asset, but nothing stops it from selling them.
Buy pressure: where new M goes
Programmatic buyback: 0. The MemeCore Foundation approved a treasury buyback of at least $10M on Jul 2 2026, after M fell more than 80% in one June week. It named no wallet and no timing, and none of MemeCore’s reserve wallets received a single M in the window. Coins bought on the market and held in an ordinary wallet stay in the circulating count, so the buyback books zero.
Protocol fee burn: about 607 M. MemeCore uses an EIP-1559 fee market from its first block: the base fee of every transaction is destroyed, while tips go to the validator reward pool. The base fee sat at its 15 gwei floor for the whole window, so the burn came to about 607 M, under 7 M a day. That cancels less than 0.002% of new block pay.
Foundation buy: 0. No Foundation purchase beyond the buyback above was found, and ZeroStack received its coins from the reserve rather than buying them. New long-term lock: 0. Staked M still counts as circulating, and no new lock contract appeared in the window.
Foundation and overhang
About 3.14B M, more than the whole circulating supply, sits in seven wallets created by the MemeCore deployer and kept outside the market count. The reserve wallet that paid ZeroStack still holds 724.07M M. Five custody wallets hold 700M, 650M, 600M, 100M and 50M M; their sizes match the Foundation, team and investor shares, and none has paid out since March 2025. The Foundation payout wallet holds 314.92M M and pays small grants a few times a year. The buyback’s treasury wallet has no public address, so its size is unknown.
We read these wallets on-chain at every rebuild. If any of them falls between refreshes, the outflow enters Foundation and unscheduled unlocks at the next refresh. ZeroStack’s 925.93M M is now inside the market count, so a sale by ZeroStack would add selling but not new supply.
How M compares to other young proof-of-stake Layer 1 chains
Most young proof-of-stake Layer 1 chains release insider coins on a public monthly calendar, so their supply climbs in even steps that anyone can plan for. MemeCore’s calendar exists on paper, but its custody wallets have not followed it; instead, supply jumped once by 925.93M M when a reserve funded a company treasury. That makes M harder to forecast: a quiet quarter like the next one, at about +1.46%, can be followed by another very large step if a reserve wallet moves.
On issuance, MemeCore pays a flat 30 M per block toward a 10B M cap, about 6% a year on today’s circulating supply and well above Ethereum’s rate. Its EIP-1559 burn works like Ethereum’s, but at a 15 gwei floor with light traffic it removes almost nothing, unlike chains where busy blocks burn a real share of new coins. And unlike coins that are already fully unlocked, only 42% of the 5.43B M that exist circulate today.
What to watch in the next 90 days
The reserve wallet’s 724.07M M: it already paid out 925.93M M once without notice, and any new transfer out would add more than 30% to the supply in a day.
Calendar unlock dates around Nov 2 2026, Dec 3 2026 and Jan 2 2027: each lists about 56.11M M; if the custody wallets start paying them, the next 90 days rise from about +1.46% to near +8.8%.
ZeroStack’s treasury: its 925.93M M is held in a company multisig; filings that show sales, or more token contributions, would change who holds M.
The Foundation buyback: any published wallet or burn of bought coins would turn the Jul 2 2026 promise into a real buy row.
Summary
MemeCore’s M supply grew +42.00% in the 90 days to Oct 23 2026, almost all from a single 925.93M M reserve release to ZeroStack’s treasury on Aug 19 2026, plus 33.33M M of block rewards. The fee burn of about 607 M is too small to matter, and the announced buyback has no visible effect. The next 90 days look much calmer at about +1.46%, but 3.14B M remains in team-held wallets with no public release dates, and the cap of 10B M is still far away.
MrNasDog Pressure Framework analysis of M (MemeCore), Metric 1 — Inflation. Data + explanation only. Not financial advice. Checked Oct 23 2026.
Original: https://mrnasdog.com/research/memecore/inflation · Data + explanation only. Not financial advice.