Memes headquartered in Solana are having a hard time right now; within the past day, several of them have seen large withdrawals and a downward price trend. Taking a broader view, it appears that many involved in the meme currency market are moving their attention to other blockchain platforms, such as Base, in search of more chances or just because they think Solana’s promise for meme coins has passed.
On Solana, significant outflows are seen in all areas. The fact that these assets are steadily losing value is not surprising. Meme coins carry significant risks and are highly speculative, similar to gambling. Frequently, especially if the liquidity is not locked, the designers of these currencies may pull the rug out by eliminating all of the liquidity, resulting in losses of up to 100%. Freezing wallets are one of the other fraudulent techniques that might capture investment money.
When big Solana meme currencies are sorted by Fully Diluted Valuation, the data reveals a consistent pattern: the majority are in the red, and the last day saw significant decreases in value. Not alone is Solana seeing this tendency, but other well-known meme currencies are also suffering greatly. It is probable that investors are switching to other chains in search of exposure to risk and meme coins.
In addition, Solana (SOL) has had unfavourable performance when viewed alone. Despite the symmetrical triangle’s successful debut, SOL has been seeing a declining trend lately. Sadly, after trading above the pattern for a few days, the price dropped.
Memes on Solana are essentially becoming less popular with time. Since there is a significant degree of volatility and loss risk, investors in this sector should move cautiously. For Solana meme currencies, the present outflows point to a negative future. But investors have short memories, as history has shown, so the meme coin craze may resurface. Though it may occur on a separate chain, Solana is one of the strongest candidates for this kind of move.
