Solana loses a third of its market cap — is memecoin season officially over?
Solana loses a third of its market cap — is memecoin season officially over? According to some of the biggest names in crypto, the peak of memecoin mania has passed. With the sitting president of a G20 country facing initial impeachment proceedings for promoting a memecoin, every Trump family memecoin negative since listing on a major US exchange, and memecoin platforms targeted for money-laundering of billion-dollar hacks, it might seem as though the bubble has popped. Even Solana, the host blockchain for most memecoins, has shed one-third of its market capitalization over the last month. People, it appears, are sick of losing money in memecoins. TRUMP has declined over $11 billion since its peak, MELANIA is down 90%, and investors lost untold millions in Argentina’s LIBRA, Central African Republic’s CAR, and countless offerings by celebrities and brands. These projects include those launched by Dave Portnoy, Changpeng Zhao, Enron, Vine, John McAfee, Donald T...