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<p class="is-style-lead">Solana prices are near an all-time high as speculators purchase crypto to invest in the next possible meme coin play.</p>
<p>According to ZachXBT, Solana (<a href="https://crypto.news/price/solana/" target="_blank" rel="noopener noreferrer nofollow">SOL</a>) token presales have earned over $149.2 million since March 12 amid a meme coin frenzy sweeping the altcoin ecosystem. Influencers and large accounts <a href="https://twitter.com/zachxbt" target="_blank" rel="noopener noreferrer nofollow">raised</a> over 796,000 SOL for meme coin cryptocurrencies backed by hype with little to no utility.</p>
<p>The slew of presales has incentivized users across cryptocurrency’s landscape to buy SOL for investing in tokens, otherwise known as “aping into coins”. The crypto grew north of 25% in the past week, rising above $200 at one point per CoinMarketCap. SOL traded around $182 at press time, about 26% below its November 2021 peak.</p>
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   <p lang="en" dir="ltr">Update: Added a few more Solana presales from the replies that I missed and the total SOL raised is up to &gt;796,000 SOL ($149.2M) from 33 presales. <a href="https://t.co/O7dBqAunni" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/O7dBqAunni</a></p>— ZachXBT (@zachxbt) <a href="https://twitter.com/zachxbt/status/1770138079044485357?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">March 19, 2024</a>
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<p>You might also like: <a href="https://crypto.news/solana-memecoins-whipsaw-24h-dex-volume-competitors/" rel="noopener noreferrer nofollow"> Solana meme coins move 24-hour DEX volumes above competitors </a></p>
<h2 class="wp-block-heading" id="solana-meme-projects-duck-launch-after-raising-millions">Solana meme projects duck launch after raising millions&nbsp;</h2>
<p>ZachXBT’s analysis revealed that not every meme coin project launched a token after receiving thousands to millions in SOL from investors. At least 16 presale meme coin creators either refunded users or disappeared with the proceeds. The latter is called a rug pull within the crypto industry.&nbsp;</p>
<p>NFT project <a href="https://crypto.news/milady-meme-coin-presale/" target="_blank" rel="noopener noreferrer nofollow">Milady</a> raised over $18 million in Solana’s coin before announcing a U-turn on its proposed plan to tap the ongoing SOL meme coin mania. The team promised to <a href="https://x.com/miladymemecoin/status/1770134470383087692?s=20" target="_blank" rel="noopener noreferrer nofollow">refund</a> all its presale investors and focus on other endeavors.&nbsp;</p>
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   <p lang="en" dir="ltr">Track our refund progress here!: <a href="https://t.co/LE30EzvLoK" target="_blank" rel="noopener noreferrer nofollow">https://t.co/LE30EzvLoK</a></p>— Milady (@miladymemecoin) <a href="https://twitter.com/miladymemecoin/status/1770134470383087692?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">March 19, 2024</a>
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<p>Solana Labs Co-Founder Anatoly Yakovenko encouraged the community to “stop doing this”, referring to the high volume of SOL deployed toward speculative virtual currencies inspired by crypto meme culture.</p>
<p>Meme coins have existed in cryptocurrencies since 2013, when Dogecoin (<a href="https://crypto.news/price/dogecoin/" rel="noopener noreferrer nofollow">DOGE</a>) was launched. Several animal-themed digital tokens have flooded markets in the decade since. Solana, in particular, noted a resurgence of this trend with the success of Dogwifhat (<a href="https://crypto.news/price/dogwifhat/" target="_blank" rel="noopener noreferrer nofollow">WIF</a>).&nbsp;</p>
<p>The project has grown to a billion-dollar token, backed by a community that plans to <a href="https://crypto.news/dogwifhat-meme-pic-sold/" target="_blank" rel="noopener noreferrer nofollow">advertise</a> the meme on Las Vegas’ sphere.</p>
<p>Read more: <a href="https://crypto.news/dogwifhat-meme-pic-sold/" rel="noopener noreferrer nofollow"> Dogwifhat original meme photo sold for $4.3m in ETH </a></p>

ZachXBT: Solana meme coins raised $149m in a week

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