Solana Memecoin Graveyard: Majority Of June Launches Collapse
In June this year, the Solana blockchain emerged as a hub for people who liked joke currencies. It was a busy month for everyone. The ecosystem now has 30 celebrity-themed tokens that reflect famous people from different fields, such as social media influencers, singers, and reality TV stars. Even though these launches got a lot […]
In June this year, the Solana blockchain emerged as a hub for people who liked joke currencies. It was a busy month for everyone. The ecosystem now has 30 celebrity-themed tokens that reflect famous people from different fields, such as social media influencers, singers, and reality TV stars.
Even though these launches got a lot of attention, they didn’t live up to the hype; soon after they came out, the prices of a number of tokens dropped significantly.
Are Solana Meme Coins Dead?
Solana network statistics indicated that celebrity-backed meme coins dropped 94% in their first month. Around 50% of these tokens lost 99% of their value from their peak prices. This shows how speculative meme currencies are, especially ones that rely on celebrity supporters for investment.
30 celebrity coins launched on Solana last month.
Here’s where they are now:
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