After raising more than 26.7 USD through the "buzzing" presale form on the Solana ecosystem, these 12 projects have "sunk" until now.
At least 12 presale memecoins on Solana went "missing" during the month. Photo: Rumble
According to statistics from on-chain detective ZachXBT , at least 12 memecoins have "clinically died" in the past 30 days, after raising 26.7 million USD from presale investors.
Only 1 month has passed and 12 of the Solana presale meme coins have been completely abandoned after raising >180,650 SOL ($26.7M).
— ZachXBT (@zachxbt)April 21, 2024
Would avoid any future projects launched by these founders. https://t.co/J0zFldRIa6 pic.twitter.com/K610MAEPMn
As Coin68 reported , the trend of depositing money to participate in presale has flared up again since the end of March 2024. The presale method is very simple, the project owner will post an address on social channels (mostly X), asking investors to deposit money into that wallet, basically like a retention deposit. At the end of the specified time, the project will issue and distribute Token back to users, based on the proportion of previous deposits.
In an article on April 21, ZachXBT reviewed 12 memecoin projects raising Capital using this controversial presale method. Many of them have "failed to rise" since launch, some projects have not even launched Token.
According to ZachXBT, the most infamous presale project is 'I like this coin' with code LIKE . pokeee. ETH, the anonymous founder of this project, successfully raised 52,220 Solana (SOL), equivalent to $7.7 million at current prices. LIKE launched on March 17 with a large market Capital of 577 million USD. However, the price of meme coin quickly plummeted more than 90% in just the first 8 hours.
As of now, LIKE has decreased by 99.2% compared to the starting price. Furthermore, the project's X account has not posted any information since March 31, not even pokeee. ETH also doesn't mention LIKE anymore.
The next "marketing" project is MOONKE by a founder of RockyXBT. Launched on March 20, with a valuation of nearly 500 million USD, MOONKE followed LIKE and reduced its price by almost 100% in just a few hours.
Another Token Issuance initiated by account
One of the presale phases that "went underground" was Slerf. The project accidentally burned 10 million USD in presale money . However, the orange sloth is still one of the most popular meme .
Citing Blockaid's survey, it shows that more than 50% of presales on Solana are scams and scams .
In recent weeks, the enthusiasm surrounding the memecoin wave has begun to fade. Some major meme coins on the Solana system such as dogwifhat (WIF) have dropped sharply since the beginning of this month.
Coin68 compiled
Join the discussion on the hottest issues of the DeFi market in the chat group Fomo Sapiens Let's join Coin68 admins!!!
