In a startling revelation by blockchain investigator ZachXBT, 12 memecoins launched on the Solana network have been abandoned within a month of their presale, collectively raising $26.7 million from investors. These memecoins, which include names like 'I like this coin' and MOONKE, initially promised significant returns but quickly plummeted in value, leaving investors with substantial losses. For instance, 'I like this coin' achieved a market cap of $577 million at launch but saw its value drop by over 90% within hours. The rapid decline in these tokens' value and the subsequent lack of communication from their founders have led to allegations of scams and raised questions about the viability and regulatory oversight of memecoins in the cryptocurrency space.
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