The Solana community and the cryptocurrency world condemned the sudden increase in inflammatory memecoins on March 22.

Some unknown individuals recently exploited Solana's token creation feature to introduce numerous memecoins with racist, anti-Semitic, and anti-China content in their names. Solana founder and CEO Anatoly Yakovenko strongly condemned this trend, calling those responsible "anti-Semitic racist incels."

In response to the surge of offensive memecoins, DEX Screener, a third-party service monitoring tokens on various blockchains including Solana, announced that they would review their policies. They clarified that while they will not control on-chain activities, they do not support spreading hate.

The current trend of offensive memecoins has slightly diminished as of now. It remains unclear whether DEX Screener has taken any action against it. Molly White from web3isgoinggreat noted that while the offensive tokens initially flooded DEX Screener, some backlash tokens like "Stop Racism on Solana" and "F— DEX Screener" are also gaining traction.

The cryptocurrency industry has been captivated by a memecoin frenzy for months, fueled by the skyrocketing value of coins like BONK and WIF. Solana's cost-effective transactions have made it a prime platform for memecoin trading, with a significant portion of the trading volume occurring on the network.

Reports from SolanaFM revealed that over 20,000 new tokens are created daily on the Solana network. The network's growing token count is enabled by its low transaction fees, making token creation more affordable compared to other blockchains like Ethereum.

In the past 24 hours, almost all of the top 50 trending cryptocurrencies on DEX Screener were traded, at least partially, on Solana.