In the past month, pre-sales of Solana memecoins have resulted in investor losses exceeding $25 million, with more than half of the leading projects being deserted, some without even launching a token.

Anatoly Yakovenko, Co-Founder of Solana, reiterated his opposition to this trend, stating that "Pre-selling a meme doesn't have any logical basis." Yakovenko cautioned against investing in memecoin pre-sales after disclosing that the top 22 projects had amassed over $100 million.

Among these projects, ZachXBT revealed that 12 have already been abandoned within a mere month. Prominent among the abandoned ventures are LIKE, MOONKE, FROG, TEMPLE, and SORRY, which collectively secured over $2 million in funding. Other projects raised funds ranging from $1.4 million to $180,000, with @Jared_eth accumulating approximately $800,000 without launching a token. Notably, @Jared_eth's account has been flagged as compromised by the web3 security platform Pocket Universe.

The fervor surrounding memecoins has now shifted to the Base blockchain, backed by Coinbase, with ZachXBT observing similar occurrences there.

The price of SOL has witnessed a substantial decline amidst the memecoin frenzy. Despite SOL surging to over $200 primarily due to memecoins, it has since dropped to $154, marking a 23% decrease. However, SOL has already rebounded by approximately 30% from its recent low of $117 on April 13th.