12 Solana presale memecoins dropped after one month.
According to figures shared by independent blockchain sleuth ZachXBT, at least 12 Solana presale memecoins were “completely abandoned” in the last 30 days after raising a combined $26.7 million from investors.
In an April 21 post for X, ZackXBT highlighted 12 Solana memecoin projects that raised money through the controversial pre-sale method, many of which have failed miserably since launch, and none appear to have launched any tokens.
According to ZachXBT, the most expensive “abandoned” presale project was a memecoin named ‘I love this coin' with the token LIKE.
The anonymous founder of the project, pokee.eth, raised a staggering 52,220 Solana (SOL) (currently $7.7 million) for memecoin and launched the coin in 2018. On March 17, it spent $577 million on the market. More than 90% in the first 8 hours.
As of press time, LIKE is down 99.2% from its original price. Notably, memecoin's official X account hasn't made a single new post since March 31 – and pokee.eth hasn't mentioned the coin since then either.
The second largest abandoned presale is for a token called MOONKE.
MOONKE, which was launched on March 20 by another anonymous founder, RockixBT, at a valuation of nearly $500 million, soon followed suit with LIKE, plunging more than 99% from its initial price a few hours later.
One project that raised 4,567 SOL ($812,000 at current prices) did not even launch a token.
Cointelegraph contacted both Pokeee and RockyXBT for comment but did not receive a response by the time of publication.
Related: Why are memecoins good? A social symbol, says the founder of Avalanche
The market's interest in memecoins has been somewhat subdued in recent weeks, with several Solana-based memecoins including dogwifhat (WIF) sliding more than 40% since April 1st.
At the time, last month's memecoin debacle had many market analysts predicting that the 2018 Contrast that with Ethereum's Initial Coin Offering (ICO) era boom in 2017, when hundreds of crypto projects raised millions of dollars, but ultimately most failed to deliver.
One of Solana's most notable presale failures in recent months was in March, when a memecoin developer called Slerf accidentally burned down the entire presale of memecoin SLERF in a “fat finger” blunder.
Although the Slerf dev burned through a total of 535,000 SOL (worth $10 million at the time), the coin soon became a cult favorite among memecoin investors, rallying behind the token and seeing it reach a market cap of $750 million. .
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