Over $122 Million USD in SOL Sent to Solana Presale Projects

The memecoin frenzy within the Solana ecosystem is making waves. According to ZachXBT, over $122 million USD worth of SOL tokens have been invested in 27 presale projects.

Over $122 Million USD SOL Sent to Solana Presale Projects

As reported by Coin68, alongside SOL hitting the $200 USD mark and surpassing BNB to become the 4th largest coin by market cap, memecoin trends are flourishing within the Solana ecosystem.

4H chart for SOL/USDT pair on Binance at 03:00 PM on March 19, 2024

In recent days, the community has witnessed a slew of meme projects launching presales, bringing substantial profits to fortunate investors who chose the right coins. Leading this list are dogwifhat (WIF) and BOOK OF MEME (BOME).

However, this is just the tip of the iceberg. The memecoin game isn't all about gains—many investors have faced losses or even fallen victim to scams and rug pulls.

According to aggregated data from blockchain sleuth ZachXBT, more than $122 million USD worth of SOL has been sent to 27 memecoin presale projects since March 12.

Presale project teams require users interested in purchasing to send funds to a specific wallet address. After the token launches, users receive the corresponding tokens. In the context of Solana memecoins, presales are conducted using SOL tokens.

However, the launch and liquidity of these tokens, as promised, and whether there will be enough liquidity for users to sell tokens, pose significant risks that investors must consider.

Recently, the incident involving Slerf accidentally burning $10 million USD from the presale funds became a community joke on the evening of March 18.

Or the day before, a project named "are you stupid" gave users 48 hours to send SOL to the wallet address areyoustupid.sol. Despite stating "99.99% chance you'll get nothing," people still rushed to send SOL.

Currently, the wallet address in question has received 437 SOL, equivalent to $87,000 USD.