Jun 15, 2024 13:26 UTC
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Jun 15, 2024 at 13:26 UTC
Solana has introduced main retail to varied memecoins via the launch of pump.enjoyable. There are a number of token-launches which have gone absolute Nuts!Meme-coins are loosely outlined as a style of cryptocurrency the place its creators put it up for sale on social media platforms to create preliminary hype and drive up the value. Tokens of those memes can be found to most people and anybody who’s enthusiastic in regards to the coin is greater than welcome to carry this enjoyable asset sort.
Let’s discover a number of origin tales the place Solana-based Meme-coin founders took “able to do no matter it takes” too severely:
SLERF
Think about launching a meme coin and unintentionally burning $10 million meant for early traders. That’s what occurred with SLERF, a Solana-based meme coin, in March 2024.
SLERF, a sloth-themed token, surpassed all Ethereum-based exchanges in buying and selling quantity inside a day. The developer’s mistake of burning over $10 million from the presale brought on a frenzy, however the worth of SLERF soared from 3 cents to $1.4. In its first 24 hours, SLERF’s buying and selling quantity hit $2.7 billion, with 800,000 trades from 130,000 merchants, reaching a market cap of $650 million at its peak.
The Solana group and exchanges like HTX and Bitget rallied to assist affected presale individuals, elevating over $450,000 in donations. This surprising twist made SLERF a “blue-chip meme,” with its buying and selling quantity and market cap persevering with to rise.
The catastrophe highlighted the mission’s equity: no presale allocation to dump on traders, and burnt LP tokens ensured it wasn’t a rug pull. SLERF turned an epic fail into a large success, cementing its place in meme coin historical past.
DARE
The story of the Solana-based meme coin “Reality or Dare” (DARE) is as dramatic because it will get within the crypto world. Its creator, Mikol, took the concept of daring to an excessive degree that ended disastrously.
“Reality or Dare” (DARE) gained notoriety in Might 2024 as a consequence of an excessive promotional stunt by its developer, Mikol. Throughout a livestream, Mikol doused himself in isopropyl alcohol and had fireworks directed at him, leading to third-degree burns over 35% of his physique. Regardless of the severity of his accidents, Mikol reassured his group from his hospital mattress that he was recovering and dedicated to persevering with the mission.
DARE launched at a modest worth of $0.000-1 and noticed a dramatic improve in worth following the incident, reaching a peak worth of $0.0015, marking a 14000% improve. The token’s market cap at its peak was roughly $2,650,000. The stunt, though disastrous, paradoxically succeeded in boosting the DARE token’s reputation and funding curiosity.
The crypto group reacted with combined emotions to the incident. Whereas some praised Mikol’s dedication, others criticised the damaging advertising and marketing ways. The token’s worth surged quickly because of the elevated consideration, and Mikol’s group has proven assist by contributing to his medical therapy and persevering with to again the mission
Mikol’s harmful act highlights the dangers related to excessive advertising and marketing ways within the crypto world. Regardless of the controversy, the DARE group has proven assist by contributing in direction of Mikol’s medical therapy and persevering with to again the mission.
FADELIVE
The Solana-based meme coin “FADE” gained consideration in Might 2024 as a consequence of a promotional stunt that went awry. The creators organized a live-streamed boxing match between two fighters to advertise their token, aiming to succeed in a $69,000 market cap and probably get listed on the Solana DEX, Raydium. Sadly, throughout the occasion, one fighter misplaced a tooth, and the combat needed to be paused for medical consideration.
Regardless of the setback, the FADE token managed to hit a market cap of $30,000 throughout the occasion, and it gained a featured spot on Pump. The incident brought on a short lived dip within the token’s worth, however there’s hypothesis a couple of rematch because the concerned accounts stay lively, although no official information has confirmed this but.
Presently, FADE’s market cap has fluctuated, reflecting the risky nature of meme cash. At its peak, FADE achieved a major market cap improve, nevertheless it stays to be seen if the hype may be sustained in the long term. This incident highlights the lengths some builders will go to in selling their tokens throughout the aggressive meme coin house on Solana.
LIVEMOM
The LIVEMOM token turned notorious as a consequence of a livestream stunt the place a teen and his mother promised to point out her breasts if the token’s market cap reached $300,000.
The stunt shortly gained reputation, attracting over 1,500 viewers. Because the market cap approached the goal, the stream abruptly ended, with the son claiming battery points. This brought on the token’s market cap to plummet to round $120,000 throughout the subsequent 5 minutes.
The duo shortly launched a brand new token, LIVEMOM2 on a recent stream, nevertheless it shortly fell to zero, and all associated social media accounts had been deleted. Regardless of this, the unique LIVEMOM token skilled a community-driven resurgence, with its market cap reaching $3 million at one level earlier than stabilising round $1 million. The group has since taken over the mission, creating a brand new web site and sustaining lively discussions
HANDS
The HANDS token story is a basic instance of a rug pull gone viral for its audacity. The pseudonymous developer “NoHandsNoRug” streamed himself on Twitch, claiming he couldn’t rug pull the mission as a result of he had no arms, displaying a chunk of paper tucked beneath his chin to bolster his declare.
Nevertheless, simply three minutes into the stream, he revealed his arms from behind his again and pulled all of the liquidity from the mission, ending the stream abruptly and leaving traders empty-handed! The developer made away with about 7 SOL, price a little bit over $1,000 on the time.
Regardless of the preliminary rug pull, the HANDS token caught the eye of the crypto group. Inside a day, 4 nameless people initiated a ‘group takeover’, creating a brand new Twitter and Telegram account, and growing an internet site for the token. The token noticed roughly $552,000 in buying and selling quantity, however its market cap dropped to round $16,000 shortly after the takeover
The group’s efforts to revive the token concerned burning liquidity to forestall additional rug pulls, though one nameless dealer nonetheless held a couple of third of all the token provide, posing a possible danger for future manipulation.
LIVESIS
The LIVESIS token, a clone mission of LIVEMOM, gained notoriety for its specific promotional technique. The creator promised that after the token’s market cap reached $100,000, his sister would take off her bra.
This stunt attracted vital consideration and, upon reaching the goal, the sister did go topless. Nevertheless, many speculated that the sister was really a person.
Following this reveal, the creator dumped his total holding whereas enjoying “Pump it Up” within the background, inflicting the market cap to plummet quickly. Though the preliminary stunt noticed the token hitting its aim, the rug pull led to the market cap dropping to just about zero shortly after.
Regardless of this, the token had moments of great buying and selling quantity, with round $552,000 recorded. Nevertheless, the market cap finally stabilised at roughly $16,000, and the creator’s actions left many traders disenchanted and empty-handed.
This text has been written taking inspiration from @starplatinumSOL ‘s thread on twitter.
Raghav Sawhney
Raghav is a major contributer who makes use of his data, abilities and expertise in direction of improvement & progress of the organisation in an environment friendly and efficient method.
