Recent calculations by blockchain investigator ZachXBT revealed that a group of pre-sale memecoins amassed over 180,650 SOL tokens, equivalent to around $28 million at the time of the report. ZachXBT warned against participating in future projects launched by the founders involved in these pre-sales.
One user, identified as @pokeepandaa, raised over 52,000 SOL for the LIKE token, which represented almost 30% of the total memecoin pre-sales that were abandoned post-fundraising. This occurred since mid-March, where more than 35 memecoin pre-sales were conducted in the Solana ecosystem, totaling over $150 million worth of SOL.
However, ZachXBT noted that not all of these projects followed the trajectory of the latest identified cohort. According to Helis CEO Mert Mumtaz, the majority of failed transactions on Solana were attributed to “bot spam,” stemming from unsuccessful memecoin pre-sales.