ChainCatcher news, according to @pandajackson42's data dashboard, on June 15th, Binance Alpha's trading volume continued to fall below the $1 billion mark, reporting $777 million, a continuous decline since June 8th.Yesterday, ZKJ trading volume was $417 million, KOGE trading volume was $91.72 million, and AB trading volume was $65.69 million, leading the list.

ChainCatcher message, KOGE project party 48ClubIan posted on Binance Square:"The sharp decline is not due to 48Club's treasury dumping KOGE, nor is the drop due to my personal actions against KOGE.48Club has no business dealings with the ZKJ project party, nor any similar plans.48Club's treasury has never held (or held) ZKJ.I have never held (or held) ZKJ.Binance Research and Binance Web3 have both had colleagues consult me regarding the price drop incident, and I have provided the above explanation.48Club has never offered a 'low-fee pool that restricts large amounts from entering'; in fact, it is technically impossible to achieve this by providing IPs.Some opinions:The details of the events directly leading to the price drop can be found in @ai_9684xtpa's analysis. Alpha assets can count trading volume against the wash, which is a clear loophole in the rules. I have expressed my views and warned about the risks multiple times in Binance Square and on Twitter.Some plans:48Club will hold the second KOGE trading competition starting from June 16, lasting for one week.Some heartfelt words:Please correctly distinguish between 'being able to see through the conspiracy behind things' and 'being the promoter of the conspiracy behind things.'If those who warn about risks are always the instigators of those risks, then why should you help the elderly you knocked down?Be a bit more optimistic; don’t always think that everyone is trying to cut you. I have no interest in cutting you; your assets are thinner than the blade I use."

ChainCatcher news, Binance officially stated that recently ZKJ and KOGE experienced significant price fluctuations. Preliminary investigations found that this was mainly due to large holders withdrawing on-chain liquidity and market liquidations.To maintain market fairness and stability, and to reduce systemic risks from concentration, Binance has decided to optimize the calculation rules for Alpha Points. Starting from June 17, 2025, 00:00 UTC, the trading volume between Alpha tokens will no longer be included in the Alpha Points statistics.

ChainCatcher message, Polyhedra posted on platform X stating that today's price drop is due to a series of abnormal on-chain transactions in the ZKJ/KOGE trading pair occurring in a very short time. The team is closely monitoring the situation and will share more information as soon as possible.However, it is important to emphasize that the fundamentals of Polyhedra have not been affected, and the project will continue to progress as planned.

ChainCatcher message, on-chain analyst Ai Yi posted on platform X for further analysis of tonight's KOGE and ZKJ flash crash event:Why was KOGE smashed first before ZKJ?The most important reason may be that ZKJ has a contract, allowing them to short on the exchange and simultaneously crash the price on-chain; secondly, from a liquidity perspective, ZKJ has better liquidity, which requires more funds to execute the crash.Why did the crash start at 8:30, while the performance of the two tokens on the K-line was delayed?Both ZKJ and KOGE are known for their good liquidity and stable prices, so the LP range is extremely narrow. After a large amount of selling breaks through this range without enough funds to absorb the sell orders, a flash crash is inevitable. When LPs see the price drop, panic selling occurs, creating a vicious cycle that further drives down the price; as for those LPs who haven't run yet? They are stuck holding ZKJ and KOGE.Why choose to crash tonight?Ai Yi speculates that the continuous decline in Alpha trading volume over the past few days may be the trigger. The exit of large LPs is also a "run fast" game, especially since there are fewer believers among the holders of ZKJ and KOGE; everyone is in it for the interest, so the collapse of the tower only requires the breaking of one supporting pillar.

ChainCatcher news, according to on-chain analyst @ai_9684xtpa, the flash crash of ZKJ and KOGE tonight may have been a long-planned harvesting operation. Three main addresses applied dual pressure through "large liquidity withdrawals + continuous selling," causing ZKJ and KOGE to crash in succession:Address 0x1A2...27599Withdrawn 61,130 KOGE (approximately $3.76 million) and 273,017 ZKJ (approximately $532,000) in two transactions at 20:28:21 and 20:33:15.Converted 45,470 KOGE to ZKJ between 20:28:58 and 20:36:57, worth $3.796 million, during which KOGE's on-chain transaction volume saw a significant increase.Sold 1.573 million ZKJ for USDT and BNB between 20:30:57 and 20:59:49, worth $3.052 million, with an average selling price of $1.94.At this point, both KOGE and ZKJ experienced slight stepwise declines but did not crash.Address 0x078...8bdE7Withdrew 33,651 KOGE (approximately $2.07 million) and 709,203 ZKJ (approximately $1.38 million) at 20:30:33.Converted 36,814 KOGE to ZKJ between 20:31:10 and 20:58:18, worth $2.26 million.Sold 1 million ZKJ between 20:35:15 and 20:37:34, worth $1.948 million, with an average selling price of $1.948.The "relay-style dumping" from this address finally pushed the price of KOGE to drop rapidly.Address 0x6aD...e2EBbReceived 772,759 ZKJ, worth $1.5 million, transferred from address 0x078...8bdE7 (the previous dumping address) at 20:41:55.Cleared out 772,000 ZKJ between 20:42:28 and 20:50:16.The third address mainly played a supporting role, further catalyzing the decline of ZKJ after the crash of KOGE, completing the harvesting of both tokens' LP and holders.Finally: The three addresses mentioned here are the main driving addresses, and in fact, more "supporting addresses" at the level of hundreds of thousands of dollars have been identified, but they will not be elaborated on here, as the dumping methods are similar.

ChainCatcher news, according to the official page, the APR for the KOGE-ZKJ trading pair in the Binance Alpha liquidity pool is currently reported at 794.98%.

ChainCatcher news, the KOGE team 48 Club stated on the X platform yesterday, "KOGE has been fully released since day one, with no lock-up. Additionally, 48Club has never committed in any form to not sell treasury holdings. Just like Binance never said it wouldn't sell BNB. Please do your own research, and the risk is yours."ChainCatcher previously reported that according to Binance Alpha market data, KOGE briefly fell below $10 and is currently reported at $22.07, with a 24-hour decline of over 64%.

ChainCatcher news, according to Binance Alpha market data, KOGE briefly fell below $10, currently reported at $22.07, with a 24-hour decline of over 64%.

ChainCatcher news, according to on-chain analyst @ai_9684xtpa's monitoring, the usually stable ZKJ and KOGE experienced a short-term drop of 3% between 21:20 and 22:05 today, likely due to liquidity withdrawal and continuous selling behavior from address 0x364...f18e9.At 21:49, this address withdrew 1.29 million ZKJ and 8,667 KOGE in bilateral liquidity from OKX, and subsequently:Sold approximately $3.1 million of ZKJ at two points in time, 21:21 and 22:05;Sold about $550,000 of KOGE at 21:20.ZKJ's trading volume surged to $12.73 million at 21:21, triggering a continuous decline within 15 minutes, possibly due to panic selling from LPs causing a chain reaction; a similar situation occurred at 22:05. KOGE, being closely tied to ZKJ, also suffered despite the smaller selling amount.

ChainCatcher message, Bitget Onchain trading has launched the MEME tokens KOGE and M2 from the Solana and BNB Smart Chain ecosystems. Users can start trading in the on-chain trading section.Bitget Onchain trading aims to seamlessly connect CEX and DEX, providing users with a more convenient, efficient, and secure on-chain trading experience. Users can directly use their Bitget spot accounts (USDT/USDC) to trade popular on-chain assets. Currently, it supports popular public chains such as Solana (SOL), BNB Smart Chain (BSC), and Base.

ChainCatcher news, Coinbase CEO Brian Armstrong posted on the X platform stating that we need a comprehensive regulatory framework that covers all types of digital assets. Congress should pass the CLARITY Act and the GENIUS Act together to make them law. 52 million American cryptocurrency holders are eagerly awaiting.

ChainCatcher news, according to official sources, the Dogecoin community is building a decentralized indexing client called Cardinals, which introduces structured data to the UTXO model, enabling non-EVM chains to gain smart contract-like capabilities. This tool supports operations such as token issuance, exchange, and options trading on UTXO, and can execute business logic through inscriptions.Users can run this indexing client on desktop or mobile devices, achieving fully decentralized operation of full nodes. This technological breakthrough provides an extension solution for smart contract behavior on UTXO blockchains without relying on EVM.

ChainCatcher news, according to analysis by X platform user @litangsongyx, today "a single transaction of KOGE/USDT was squeezed by $47,000" due to the user setting a nearly 50% slippage and not enabling MEV protection.The user had a single transaction volume of $210,000 and ultimately received KOGE worth $161,000, resulting in a loss of $47,000. Due to the user's large transaction volume, the routing split the transaction into three liquidity pools: $120,000 transaction volume used the Uniswap V4 liquidity pool; $43,000 transaction volume used the Uniswap V3 liquidity pool; $47,000 transaction volume used the PancakeSwap liquidity pool.When the transaction went through the PancakeSwap liquidity pool, an MEV bot used a $320,000 transaction to push KOGE to an extremely high level, causing the user to complete the transaction at a very high price. After the MEV attack, the user has added KOGE tokens to the ZKJ-KOGE liquidity pool to earn fees.

ChainCatcher news, according to Bloomberg, the U.S. Supreme Court ruled on June 7, 2025, allowing the Department of Government Efficiency (DOGE) to access the Social Security Administration's sensitive personal information database. This decision overturned the restrictions previously set by U.S. District Judge Ellen Lipton Hollander to protect the privacy of millions of Americans.The Supreme Court supported the Trump administration's request, enabling the DOGE office, formerly led by Elon Musk, to have full access to personal identification information in the Social Security Administration database during the appeal of the case.

ChainCatcher news, according to Decrypt, as Musk publicly breaks with President Trump, related MEME coins have experienced significant sell-offs. DOGE fell 6.4% in 24 hours to $0.1788, making it the seventh worst-performing asset among the top 100 cryptocurrencies; TRUMP plummeted 10% to $9.66, becoming the second largest token drop among the top 100 cryptocurrencies.It is worth noting that two weeks ago, Trump dined with 220 major holders of TRUMP tokens, while Musk previously used the Dogecoin logo and established a department named DOGE during his tenure at the Office of Efficiency in Government. Analysts believe this incident once again confirms the double-edged sword effect of celebrity influence in the MEME coin market.