The essence of participating in the pre-sale of Meme coins is a highly risky speculative behavior, which is an extreme manifestation of the speculative frenzy and bandwagon mentality in the currency circle. The rate of return of this method is not stable, and may even be far lower than the expected return of buying lottery tickets. Therefore, it is time to think calmly, turn from speculation to investment, and return to real value investment. After all, real value investment is the key to long-term stable returns.
On March 17, crypto artist Dekadente (Twitter ID: @0xDekadente) posted the following on Twitter:
The number of views of this tweet has exceeded 4.8 million, showing extremely high attention and popularity. In this fundraising campaign, the address successfully raised 169,982 SOL tokens, and according to the market value at the time, the total value of these tokens exceeded a staggering $32 million.
However, in the following days, the project encountered a series of challenges and difficulties, which delayed the original token issuance and airdrop plan. This undoubtedly caused some trouble and anxiety to the expectant investors and community members.
However, it is gratifying that after a period of hard work and preparation, the project finally successfully issued the token SMOLE and hurriedly went online on the afternoon of March 21. This progress undoubtedly brought a glimmer of comfort and hope to the investors and community members who have been paying attention to and supporting the project.
Performance art with only shock but no surprises
The pre-sale of Meme coins has recently set off a wave of enthusiasm on Twitter. This trend was initially led by Darkfarms, the well-known creator of Pepe Meme. On March 10, Darkfarms originally planned to raise 500-600 SOL for the issuance of the new Meme coin BOME (BOOK OF MEME), but the enthusiasm of fans far exceeded expectations, and finally raised an astonishing 10,131 SOL.
Darkfarms then invested all the huge sum of money into the liquidity pool, successfully creating a highly liquid Meme coin on the market. This move not only caused widespread discussion and recognition, but also caused the value of BOME coins to soar by about 577 times in just a few days. This wealth-making effect quickly attracted many crypto artists and KOLs to follow suit, resulting in a large number of Meme coins emerging on the Solana chain in a short period of time, reaching 9,943 on March 15 alone.
As the creator of NFT projects CryptoCheems and DystoPunks, Dekadente has also joined the pre-sale craze. Although CryptoCheems is not actively traded on Opensea, and even the transaction price has dropped sharply recently, this has not affected Dekadente's enthusiasm in the Meme pre-sale.
He asked for fans' opinions on Twitter and received support from most people. Subsequently, Dekadente launched a pre-sale event with no limit on the number of tokens and lasting only 24 hours, and encouraged everyone to send SOL tokens multiple times or in large amounts. One fan even sent more than 1,700 SOL at a time, which attracted widespread attention.
However, within a few days after the pre-sale, Dekadente said that it encountered difficulties in adding LP pools on Raydium, resulting in repeated delays in token issuance and airdrops. This has caused concerns among many users in the community, as such voluntary transfers may be difficult to be legally protected.
Human experiments are ultimately no match for human nature
After the opening, SMOLE did not continue the brilliant performance of Meme pre-sale coins in the previous few days. It only doubled briefly at the opening and then fell rapidly. Although its market value once reached an astonishing 220 million US dollars, successfully ranking among the top 20 Meme coins in terms of market value, the market enthusiasm does not seem to be sustained. For many investors who expect it to replicate BOME's 100-fold increase, this is undoubtedly a heavy blow, because that would mean that SMOLE's market value is likely to exceed the 10 billion US dollar mark.
However, the reality was far more cruel than expected. Within just 4 hours after the opening, the price of SMOLE fell to near the opening price, almost breaking the issue price. This performance undoubtedly disappointed and frustrated many investors.
Nevertheless, from another perspective, those who paid for Dekadente may also be considered lucky. Because in this case, the artist at least did not choose to run away, but chose to face the challenges of the market and the doubts of investors. This shows his sense of responsibility and integrity, and may also win him some trust and support in future projects.
Unfortunately, some users have suffered losses while participating in fundraising projects. Some projects have suddenly disappeared after successfully raising funds, leaving investors with nothing. This situation not only harms the interests of investors, but also affects the trust of the entire cryptocurrency community.
Take the Solbot project on March 17 as an example. After the project released the pre-sale coin news on Twitter, it received support and retweets from multiple well-known accounts and successfully raised 2,870 SOL. However, when the project put 1,717 SOL into the liquidity pool, its Twitter account was suddenly blocked, which aroused widespread concern and doubts in the community.
What is even more disappointing is that the token quickly fell after a brief rise. As of March 21, its price has fallen by more than 99% from its peak. This means that most investors' investment in the project has almost gone to zero. What's worse is that the remaining 1,153 SOL (worth $217,000) are still in the wallet of the project party, and the project party has no response or explanation for this.
Recently, pre-sale projects on the Solana chain have indeed been frequent, but they are also accompanied by many problems and risks. After successfully raising funds, many projects did not issue tokens as promised, causing investors to suffer losses. The lack of an effective regulatory environment has made this situation even more serious. Most users who have lost money can only choose to bear it silently, while still hoping to invest in a pre-sale project that can bring huge returns.
According to incomplete statistics from ZachXBT, 33 projects on the Solana chain raised a total of 796,000 SOL in this round, equivalent to about 149 million US dollars. However, as of March 20, it is regrettable that nearly half of these projects have failed to fulfill their promise to issue tokens. This not only harms the interests of investors, but also has a negative impact on the healthy development of the entire Solana ecosystem.
Faced with this situation, Solana co-founder Toly also actively forwarded ZachXBT's statistics and called on investors to stop participating in such on-chain pre-sale projects.
A mockery of “value investors”?
Beyond the noisy surface, we do need to have a deeper discussion on the essence of this round of Meme coin pre-sale. From the perspective of the emerging forms of financing in the crypto circle, the method of directly sending addresses for users to pay seems to have been simplified to the extreme and has become a new financing trend. However, this financing method no longer relies on traditional trust cornerstones such as white papers, project plans or luxurious team backgrounds, which undoubtedly frustrates those teams who are dedicated to actual product development.
In-depth analysis of the reasons behind this shows that this financing method is not because the cost of building trust has become low, but rather a reflection of the lack of trust in the entire crypto industry. For users, especially those who are keen on Meme coin transactions, they may be more inclined to choose opportunities that seem to be risky but have the potential to bring huge returns, rather than participating in projects that are beautifully packaged but have uncertain prospects.
The previous Meme coin issuance had almost no endorsement, relying entirely on the keen sense of users. However, this round of pre-sale Meme has increased the trust foundation to a certain extent because it has the endorsement of some KOLs. Although there is still a risk of running away, at least users know who to look for. This is essentially a bet between users using small amounts of money and the influence of KOLs, which is more like a satire on those project parties who have taken great pains to package themselves.
However, does this mean that this type of simple and crude Meme coin is a better choice for users? The answer is obviously no. From this round of pre-sale coin craze, we can see that tokens that can really achieve good returns, such as BOME, SLERF, etc., are rare among tens of thousands of issuances. And their rising logic is often based on accidental events, such as BOME as a leader of the trend, and SLERF accidentally became popular due to the founder's mistake. As the craze receded, most pre-sale tokens experienced a sharp correction, making it difficult for users who entered later to make a profit.
Therefore, participating in the pre-sale of Meme coins is essentially a high-risk speculative behavior, which is an extreme manifestation of speculation and FOMO sentiment in the crypto circle. The return rate of this investment method may be even lower than buying lottery tickets, because it not only depends on the actual value of the project, but also is affected by multiple factors such as market sentiment and KOL influence.
A user posted a tweet that is thought-provoking.
After 10 years, Ethereum's market value has reached 430 billion US dollars. In another month, today's popular pre-sale coins may no longer be in demand.
#热门话题 #meme板块 $BTC $ETH
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