ZachXBT warns that over $26 million in SOL has been lost in Solana-based memecoins and urges caution with these names
Solana (SOL)-based meme tokens have undoubtedly been one of the most notable altcoins gaining traction in recent months.
While SOL-based meme tokens have garnered significant attention from investors across the board, primarily whales, there has been a fortune made by investors who have bought and sold at the right places amidst immense price pumps.
However, Solana-based meme tokens have failed to retain their limelight and have continued to lose momentum. At this point, popular data provider ZachXBT has shed light on an alarming state of affairs concerning SOL-based meme tokens, revealing the extent of losses that investors have incurred.
Warning investors in a Tweet, ZachXBT noted:
“1 month in: 12 Solana presale meme tokens have rugged after raising 180,650 SOL ($26.7m).
“Projects from these founders in the future should be met with skepticism.”
ZachXBT at this point went on to advise investors to exercise caution and conduct due diligence before getting involved with such meme token projects, highlighting that there’s a high risk of them turning out to be rug pulls.
As it stands, approximately $11 million raised in the presale of a Solana-based meme token dubbed Slerf (SLERF) has been drained.
