ZachXBT has disclosed that 12 Solana pre-sale meme coin project have been revealed “completely abandoned” In the past 30 days
The projects have collectively raised $26.7 million in investment.
Projects abandoned by Solana Meme Coin
ZachXBT, in a post published on X April 21, singled these projects out and cautioned investors to avoid associating themselves with future projects of the listed founders.
Only 1 month has passed and 12 of the Solana presale meme coins have been completely abandoned after raising >180,650 SOL ($26.7M).
I would avoid future projects by the founders. https://t.co/J0zFldRIa6 pic.twitter.com/K610MAEPMn
— ZachXBT (@zachxbt) April 21, 2024
This warning is a response to the rapid decline of many projects, some of which have not even released a token.
It is important to note that the word “you” means “you”. “I like this coin” The (LIKE), project created by pokeee.eth under the pseudonymous creator, was at the top of fundraising. The project raised 52,220 Solanas (SOL), which is equivalent to $7.7m at the current market price.
The coin value dropped by more than 90% in the first 8 hours. At the time this article was published, LIKE’s launch price had fallen by 99.2%.
The official X-account of the founder of the meme coin has not posted any new content since March 31. Pokeee.eth also hasn’t provided updates since that time.
RockyXBT, another anonymous person, has launched the meme coin, MOONKE. MOONKE’s initial valuation was close to $500 million. However, it met a similar fate to LIKE. drop The value of the product increased to over 99% within a few months after its launch.
The project that Jared_eth initiated, where he raised SOL of 4,567 worth $812,000 failed as there was never a token launched.
Scammers Exploit Meme Coin Craze
Blockaid conducted a recent study on cybersecurity. revealed The Solana Blockchain has been found to contain malicious tokens in 50% of the presale tokens that were launched between November 2023 – February 2024.
Ido BEN-NATAN, Blockaid’s co-founder, has attributed the rise of scammers to the increased adoption of pre-sale tokens in February and in March due to the increasing popularity of legit meme coins.
He highlighted the scams that take advantage during periods when interest is high.
ZachXBT also mentioned Bluekirbyftm in his latest post.
A Solana pre-sale token was involved in a number of notable incidents occurred In March, the developer of Slerf, a meme-coin called Slerf, claimed that he had accidentally burned all the presale tokens due to an error. “fat finger” burn error.
In the last few weeks, market interest in meme tokens has declined. experiencing Slides of more than 40%
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Source: cryptopotato.com