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CryptoIntelligence 2024-04-25 03:55:16

Over $26 Million Lost as Dozens of Solana Memecoin Presales Abandoned Last Month

Over $26 Million Lost as Dozens of Solana Memecoin Presales Abandoned Last Month

Over the past month, at least 12 memecoins presold on the Solana blockchain have been reportedly abandoned after collectively raising $26.7 million. Independent blockchain investigator ZachXBT detailed these findings in a recent post on the social platform X, highlighting the volatility and risks associated with such investments. ZachXBT pointed out that the projects utilized the controversial presale method to gather funds, with several experiencing significant losses shortly after their launch. One of the memecoins did not even release a token. The most dramatic decline was observed in the memecoin “I like this coin” (LIKE), which was initiated by the pseudonymous

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