It's over for Solana
Worse than the FTX collapse
LIBRA and MELANIA charged everything
: Here’s what went down and what’s next...👇
It all started a month ago when the US President launched a meme coin
Trump’s team picked Solana for it
The first 24 hours were glorious — both TRUMP and SOL kept breaking all-time highs
But the fun didn’t last long
Twenty-four hours after
$TRUMP launched, MELANIA was deployed.
Naturally, people sold
#TRUMP to jump on the new coin, crashing the old one’s price.
At the same time, insiders and the team extracted hundreds of millions from the launch.
The launch of TRUMP opened a Pandora's box
Crime is now perceived as legal — that's what everyone has in mind.
First up was CAR, launched by the Central African Republic’s President, FA_Touadera.
Within a day, millions vanished, and $CAR went straight to near-zero.
No one expected much from a small country like that (GDP Rank: 162)
But the public took it seriously when JMilei, Argentina’s president, promoted a coin.
Two days ago, he introduced LIBRA as a project to support businesses in Argentina.
The LIBRA launch was chaos
It hit $4B market cap in two hours — then crashed to $200M.
Retail got wrecked. Insiders made $100M+
Milei’s tweet got deleted. Turns out, he wasn’t that involved.
It raised many questions from the public, and we did get answers.
The coin was launched by KelsierVentures, who went on an interview with coffeebreak_YT today and admitted to several allegations, in short:
- Withdrew 100m+ from the liquidity pool.
- Used insider information to snipe the launch.
- Used and spread insider information to KOLs and teams.
- Was also involved in insider trading/Sniping of MELANIA
This past month showed how bad things are on Solana’s meme scene.
Mostly, it’s insiders making money while everyone else loses.
Today, the
$SOL price began responding to this sentiment.
People are pissed — and they should be
This will hurt SOL short term.
But this isn’t new. Scammers used Solana for NFT rugs in 2021-22 and
#memecoins in 2024.
Still, this industry forgets quickly; the casino gets rebranded and keeps going.
From the start, Solana had one major edge: a huge, loyal community.
That helped it rebound after the FTX collapse and climb into the top five altcoins in two years.
It was “dead” once before, but came back stronger.
What’s next for Solana?
In the short term, it will lag behind other top 10 coins (especially with the February unlocks coming), and likely won't reach new highs this cycle.
But long term,
#solana will stay among leaders:
- Biggest community in crypto
- Most user-friendly chain
- Genius marketing
- Talented devs building on the chain
- A Solana ETF could be coming soon
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