Will Solana Memecoin Madness Rescue Solana?

Wow, this takes me back to 2021, seems like Solana came a little bit late to the party. Remember in 2021 when lots of meme coins were being created on the ethereum and the Binance smart chain. This was one of the reasons these tokens spiked in 2021 because of the high demand of these coins to create and purchase these meme coins. Now we are back with a dejavu with these new Solana memecoins, but this time the process is different and new. Its kind of confusing I dont understand it. The earliest meme coins were kinda like this, you buy early enough and you become massively rich, depending on how much you bought though. But right now its different, which kind of bothers me, because I dont understand how it works.

Remember I wrote an post on If You Missed The Bonk Airdrop Scam and it was about a trend on how twitter accounts are following a trend of putting a google form link telling you to retweet the tweet, follow the account, put it on post on notification, submit your Solana address and you will be whitelisted for an airdrop, turns out that some Solana meme coin projects actually sent airdrop to people who made the whitelist. A lot of people got airdrop worth over $200 and it didn’t end there. They had the whitelist role, the OG role and I think the memer role, the whitelist role is for the people that filled the whitelist form, the OG role is for active discord participants that reached a certain level on discord or invited a certain number of people. if you were unlucky to not make the whitelist role, you can try the og role.

Now where this gets interesting is that these people get the token for free, and its worth a lot of money, after that, its all continuous pump and dump and the participants and investors know this, but no one cares because they want to make easy quick money. Where this gets more interesting is that its on the Solana blockchain so you need Solana to swap these tokens, creating more Solana demands. After bonk did more than 2000% in 24 hours lots of people are aping on Solana meme coins and hoping they get their own share of over 2000% profit.

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