Over 50% of pre-sold Solana memecoins abandoned within 1 month after $25 million raise
Over 50% of pre-equipped Solana memecoins abandoned inside of 1 month after $25 million carry Over 50% of pre-equipped Solana memecoins abandoned inside of 1 month after $25 million carry
ZachXBT identified 12 Solana memecoins initiatives which were abandoned by their founders in the aftermath of the memecoin mania.
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Solana memecoin pre-gross sales beget rugged investors of over $25 million for the duration of the previous month as extra than 50% of the prime initiatives were abandoned, with some never even launching a token.
Solana Co-Founder Anatoly Yakovenko retained his detrimental stance on the phenomena, commenting, “Pre promoting a meme doesn’t glean any sense to originate up with.” On the time, Yakovenko suggested customers to discontinue investing in memecoin pre-gross sales after sharing a image of the prime 22 initiatives, which raised over $100 million.
Of the 22 initiatives, ZachXBT has revealed that 12 beget already been abandoned apt one month later. The abandoned initiatives encompass LIKE, MOONKE, FROG, TEMPLE, and SORRY, which raised over $2 million. The diversified initiatives raised between $1.4 million and $180,000, with X user @Jared_eth elevating around $800,000 with out launching a token. Particularly, @Jared_eth’s legend is listed as compromised by the web3 security platform Pocket Universe.
The memecoin mania has since moved to the Coinbase-backed Horrible blockchain, with ZachXBT commenting that “no person learned something else bc same thing is occurring on Horrible.”
The cost of SOL has fallen vastly because the memecoin spending spree. At its height, SOL reached over $200, fueled largely by memecoins, nonetheless has since dropped to $154 as of press time. The 23% decline comes after SOL has already recovered around 30% from its local low of $117 on April 13.
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