Degens Are Flocking to These Solana Meme Coins Amid Crypto Market Turmoil
Despite a downturn in the crypto market, traders are still buying and flipping Solana-based meme coins, looking to profit amid challenging conditions. This surge comes as the broader crypto environment experiences significant sell-offs, with meme coins dropping approximately 11.3% in the last 24 hours and 29% over the past week. Pseudonymous traders report a notably bleak market sentiment. Nevertheless, some meme coins continue to show signs of growth. For instance, a new token called Rope registered a $6 million market cap after a significant interest from a group of traders, though its volatility also led many to lose money. Meanwhile, McDonald's McValue coin recently grew to an $824,000 market cap, reflecting that not all coins are slipping. While the number of new tokens remains relatively stable, the meme coin landscape is marked by extreme volatility, where many coins flourish under adverse emotional conditions, albeit with substantial risk involved.
Source 🔗