Solana (SOL)-based mem tokens were undoubtedly among the most notable altcoins in the rise in recent months.
While SOL-based mem tokens attracted great interest among all investors, mostly whales, they brought millions of dollars to investors who bought and sold from the right place with tremendous price increases.
However, Solana-based mem tokens are not gaining the same attention as before and continue to lose momentum. At this point, popular data provider ZachXBT shed light on the alarming situation in SOL-based meme tokens, revealing the extent of losses suffered by investors.
ZachXBT warned investors in his X post and said:
“Only 1 month has passed and 12 of the Solana presale meme tokens have been completely abandoned after collecting more than 180,650 SOL ($26.7 million).
“Projects initiated by these founders in the future will be avoided.”
At this point, ZachXBT advised investors to be careful and do due diligence before participating in such mem token projects, and pointed out that such projects have a high risk of being a rug pull. Because previously, approximately 11 million dollars collected in the pre-sale of the Solana-based mem token called Slerf (SLERF) had evaporated.
*This is not investment advice.