Solana Pre-sales: Presales in the Last 3 Days Are Seen as the Peak of Degeneracy

Crypto News – With memecoin founders earning millions of Solana’s SOL through token presales within the last 72 hours, the cryptocurrency community has begun to warn about “peak degeneracy.”

Solana Pre-sales: Presales in the Last 3 Days Are Seen as the Peak of Degeneracy

Aggregated data reported by crypto researcher 0xGumshoe indicates that cryptocurrency traders have transmitted around $100 million worth of SOL in an attempt to purchase more Solana meme coins in the last 72 hours.

Through a contentious presale approach, several tokens—most notably Book of Meme (BOME), Nap (NAP), Nostalgia (NOS), and many more—have been raising money for unreleased currencies.

This is legit peak degeneracy. Aping $180k and $90k into memecoins,

crypto investor Nick | Crypto Crusader

Because there is no assurance that an investor will receive tokens in return for cryptocurrency sent to a presale wallet address, presales are a very popular way for con artists and fraudsters to defraud unsuspecting investors out of their money.

There Are Investors Who Earned $32 Million With BOME

The contentious crowdfunding methodology used by the memecoin Book of Meme to debut propelled the memecoin presale frenzy. At a starting valuation of about $4 million on March 14, the pseudonymous artist Darkfarms1 launched BOME. In less than 56 hours, BOME surged more than 36,000% to reach a high market capitalization of $1.45 billion.

According to a March 17 post from blockchain analytics platform Lookonchain, one early investor, Sundayfunday.sol, a personal friend of BOME’s developer, turned an initial investment of 420.69 SOL — worth $72,000 at the time — into a remarkable $32 million in less than three days.