In the past month, at least 12 Solana memecoins have been "completely abandoned" after raising a total of $26.7 million from investors, according to figures shared by independent blockchain detective ZachXBT.
Abandoned memecoins: a review of the March panic
In a post on X, ZachXBT highlighted 12 Solana memecoin projects that have raised funds via the controversial presale method. Several of them have dropped significantly since their launch, and one even seems never to have launched a token at all.
The most expensive of the abandoned: "I like this coin".
The "I like this coin" memecoin project, whose founder's pseudonym is pokeee.eth, raised 52,220 SOL (SOL) tokens ($7.7 million at current value) for the memecoin and launched the token on March 17 with a market capitalization of $577 million. However, the price of memecoin fell rapidly, dropping by over 90% in the first eight hours. Memecoin is currently down 99.2% on its launch price.
Another abandoned one: "MOONKE
The memecoin project "MOONKE", launched by another pseudonym, RockyXBT, on March 20 at a valuation of almost $500 million, has followed a similar path to "I like this coin". It plunged more than 99% from its launch price in a matter of hours. This rapid fall in value underlines the risks associated with investing in memecoins and the extreme volatility of this market.
Conclusion
Over the past month, at least 12 Solana memecoins have been abandoned after raising a total of $26.7 million from investors, according to data shared by independent blockchain detective ZachXBT. The memecoin market has recently lost steam, with several of the most prominent Solana memecoins, including Dogwifhat (WIF), dropping more than 40% since April 1.
