Solana Meme Coin Presales Raise Over $26M, 12 Projects Completely Abandoned
ZachXBT, a crypto sleuth, recently revealed that 12 Solana meme coin projects have collectively raised more than 180,650 SOL (approximately $26.7 million) through presale events.
However, he emphasized that the founders abandoned these coins within a month of their launch.
Key points:
- 12 Solana meme coin projects raised over 180,650 SOL ($26.7 million) through presale events.
- Many of these projects have been completely abandoned within a month of their launch.
- Pokeepandaa raised the highest amount, with 52,220 SOL collected during its presale.
- RockyXBT and Pepecasso1 followed, raising 37,470 SOL and 29,761 SOL, respectively.
- ZachXBT advises investors to avoid future projects launched by the founders of these abandoned meme coins.
According to the data shared by ZachXBT, the presale that raised the highest amount of SOL was Pokeepandaa, which collected an impressive 52,220 SOL.
RockyXBT and Pepecasso1 followed closely, with 37,470 SOL and 29,761 SOL raised, respectively. Other notable presales include TemplePharmacy (24,437 SOL), Vombatus_Eth (13,176 SOL), and Sartoshi0x (8,357 SOL).
Solana meme coin presales raise concern
The emergence of meme coin presales on the Solana blockchain has been a topic of concern for many in the crypto community. These presales often generate significant hype and attract investors with the promise of quick returns. However, the lack of transparency and accountability surrounding many of these projects leaves investors vulnerable to scams and rug pulls.
Since their launch, many of the projects shared by ZachXBT have plunged significantly in value. Out of these, one project appears not to have launched any tokens at all.
One of the most notable Solana presale debacles in recent months occurred in March. This is when the developer of a meme coin called Slerf claimed to have accidentally burned the entire presale allocation of the meme coin SLERF in a “fat finger” burn error.
These instances serve as a reminder for investors to conduct proper research before scooping up meme coins in expectation of life changing gains.
