Within the wake of the memecoin frenzy, over $25 million invested in pre-sold Solana memecoins has been left stranded, with greater than half of the highest tasks deserted inside only one month.
ZachXBT’s investigation recognized 12 Solana memecoin tasks which were abandoned by their founders, leaving traders within the lurch. Solana Co-Founder Anatoly Yakovenko expressed skepticism in the direction of the pattern, stating, “Pre-selling a meme doesn’t make any sense to start with.” Yakovenko beforehand cautioned towards investing in memecoin pre-sales, highlighting the riskiness of such endeavors.
Of the 22 tasks initially scrutinized, ZachXBT revealed that 12 have already been abandoned inside a month. Notable amongst these are LIKE, MOONKE, FROG, TEMPLE, and SORRY, which collectively raised over $2 million. Different tasks, together with these like @Jared_eth, raised substantial funds with out even launching a token, with one account flagged as compromised by the web3 safety platform Pocket Universe.
The memecoin frenzy has now shifted to the Coinbase-backed Base blockchain, indicating a scarcity of classes discovered from the Solana debacle, in accordance with ZachXBT.
In the meantime, the value of SOL, Solana’s native token, has witnessed a major decline for the reason that memecoin increase. Though SOL surged to over $200 in the course of the peak of the frenzy, largely fueled by memecoin hypothesis, it has since plummeted to $154 as of the most recent knowledge. This represents a 23% lower, regardless of SOL having already bounced again roughly 30% from its latest low of $117 on April 13.
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