BOJAK, PNUT, SHREK Coins Soar 100x, New Dog Meme Coin Primed for Launch
Meme Coin markets have become the fastest-growing opportunity in finance this month, and retail investors are now scrambling to find new meme coins to secure big profits.
The frenzied meme coin season was triggered early in 2024, when the now iconic Solana meme coin DogWifHat (WIF) token exploded onto a multi-billion dollar market cap.
In the weeks since crypto markets have gone parabolic as millions of investors around the world race to find new meme coins to make it big.
Nearly 800k $SOL was raised in presales, representing $168M at peak prices.
Analyzing the 2,793 coins launched in the last 24 hours:
– Just 385 coins, or 12%, were profitable buys (above 0% return).
– A substantial 78% of these coins were unprofitable buys (less than 0%… pic.twitter.com/plvKwB13xr
— Bread & Butter (@breadnbutter247) March 20, 2024
However, with the statistics showing that the majority of Solana meme coin launches lose investors money – is this a smart money game for schmucks? Let’s unpack some of today’s biggest rug pulls.
In a return to classic ERC-20 meme coin architecture, BOJAK is an intrepid meme coin setting out to make it big in a double-edged play on 2023’s memorable WOJAK token – rebirthed (at least in name) into the BASE blockchain trend.
However, despite a massive influx of $1.14m in 24-hour trading volume, and surging up a whopping +53,687% at its peak – BOJAK has almost completely bled out over the afternoon – leaving more than 2,000 holders in despair.
Next up, a new Solana meme coin called PNUT – a ticker play on the word peanut – briefly exploded on Raydium DEX markets with a +145,228% rally to an all-time high suckering in almost 2,000 traders.
Yet, a near-complete retracement has seen the majority of PNUT holders left
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