Members of the Solana community and the broader crypto sphere expressed strong disapproval of the recent surge in inflammatory memecoins on March 22.

Anonymous parties recently exploited Solana’s token creation feature to introduce numerous memecoins featuring racist, antisemitic, and anti-China terminology in their names, alongside other offensive content.

Solana's founder and CEO Anatoly Yakovenko condemned the trend on X, succinctly stating, "F’ these anti-Semitic racist incels."

Response from DEX Screener

DEX Screener, a widely-used third-party service monitoring tokens across various blockchains, including Solana, announced plans to review its policies following the influx of offensive memecoin launches.

The company stated:

“We won’t be the gatekeepers of what happens on-chain, but we’re definitely not here to spread hate.”

Currently, all data on the platform is handled in real-time without any human moderation or intervention.

As of now, the trend has somewhat subsided, but it remains unclear if DEX Screener has taken any action in response.

Molly White from web3isgoinggreat noted that while the offensive tokens initially dominated DEX Screener, few of them are currently trending on the platform’s main page. Additionally, memecoins opposing the harmful content, such as "Stop Racism on Solana" and "F— DEX Screener," are gaining traction.

Memecoin Craze

The crypto industry has been swept up in a memecoin frenzy for several months, largely driven by the meteoric rise of tokens like BONK and WIF.

Solana's low costs and fast transactions have positioned it as a key player in the memecoin surge, with a significant portion of trading volume occurring on its network.

SolanaFM reported that over 20,000 new tokens are created daily on the Solana network. Its rising token count is facilitated by comparatively low transaction fees, making token creation more accessible than on other blockchains.

For instance, while the average Ethereum transaction fee exceeds $9.00, Solana transactions typically cost a fraction of a cent—although actual costs may vary on each chain.

In the past 24 hours, all but 5 of the 50 top trending cryptos on DEX Screener have been traded, at least partially, on Solana.