This Solana Meme Coin Raised Over $100 Million

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DAO Mak­er has achieved a remark­able feat, secur­ing near­ly $100 mil­lion in a pre­sale for the PUNDU meme coin.

The sig­nif­i­cant invest­ment con­tributed with­in 36 hours reflects a pro­nounced appetite for high-risk ven­tures in the cryp­to mar­ket. How­ev­er, the over­whelm­ing response result­ed in an over­sub­scrip­tion, neces­si­tat­ing refunds for con­trib­u­tors who sent funds post-tar­get attainment.

Solana Meme Coins in High Demand

DAO Mak­er unveiled an impres­sive $97.6 mil­lion raised across Binance Smart Chain and Solana, draw­ing sup­port from over 20,000 users. PUNDU, intro­duced by the launch­pad just days ago, swift­ly cap­tured investor inter­est, with con­tri­bu­tions exchang­ing SOL and USDT for PUNDU allocations.

This suc­cess marks a mile­stone, estab­lish­ing PUNDU’s pre­sale as the largest for a meme coin. Most deposits orig­i­nat­ed from Binance Smart Chain, amass­ing $60 mil­lion. How­ev­er, the Solana pre­sale address also saw sub­stan­tial activ­i­ty. It received 212,404 SOL, equiv­a­lent to $37.6 mil­lion, sur­pass­ing the 33,333 SOL hard cap, high­light­ing the fer­vent inter­est in meme coins with­in the Solana ecosystem.

While PUNDU awaits its launch date, the meme coin pledges a fair roll­out, ear­mark­ing 40% of tokens for the pre­sale, anoth­er 40% for liq­uid­i­ty pools, and dis­trib­ut­ing the remain­ing 10% equal­ly between mar­ket­ing efforts and long-term exchange listings.

Read more: 6 Best Plat­forms To Buy Solana (SOL) in 2024

Accord­ing to cryp­to inves­ti­ga­tor ZachXBT, Solana pre­sales have raised more than 796,000 SOL, equiv­a­lent to around $149.20 mil­lion. Such mania urged Solana Labs Co-Founder Ana­toly Yakovenko to advise investors to “stop” send­ing SOL presales.

“To me, it’s just a bizarre thing, I think, of peo­ple being ter­mi­nal­ly online and kind of hav­ing noth­ing bet­ter to do,” Yakovenko said.

More­over, the fren­zy sur­round­ing meme coins led to the emer­gence of racist tokens. These meme coins, with offen­sive names, sym­bols, and imagery, include racial slurs, anti-Semit­ic ref­er­ences, and Nazi imagery.

Dis­claimer

In adher­ence to the Trust Project guide­lines, BeIn­Cryp­to is com­mit­ted to unbi­ased, trans­par­ent report­ing. This news arti­cle aims to pro­vide accu­rate, time­ly infor­ma­tion. How­ev­er, read­ers are advised to ver­i­fy facts inde­pen­dent­ly and con­sult with a pro­fes­sion­al before mak­ing any deci­sions based on this con­tent. Please note that our Terms and Con­di­tionsPri­va­cy Pol­i­cy, and Dis­claimers have been updated.



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