solana based meme coins are going through a rough patch, with many experiencing significant outflows and a negative price trend in the last 24 hours. Generally speaking, it is observed that participants in the meme coin market are shifting their focus to other blockchain platforms such as Base in order to find more opportunities or simply because they believe Solana’s meme coin potential has diminished.
There are massive exits across the board at Solana, and it’s little surprise that these assets are increasingly losing value. meme coin‘s are generally speculative in nature. Therefore, they involve high risks. Often, the creators of these coins can remove all liquidity, leaving investors with huge losses. They can cause losses of up to 100%, especially if liquidity is not locked. Other fraud tactics include freezing wallets, which can trap investors’ funds.
Data on major Solana meme coins sorted by Fully Diluted Valuation shows a persistent trend. Most are in the red and there have been significant declines in the last day. This trend is not unique to Solana. Because other popular meme coins are also losing serious blood. Investors are likely moving to different chains, seeking risk and meme coin exposure elsewhere.
Additionally, Solana (SOL) itself is experiencing a decline in performance. SOL has been exhibiting a bearish trend lately despite the successful breakout of the symmetrical triangle. Unfortunately, after trading above the formation for a few days, the price experienced a decline. Essentially, the popularity of meme coins on Solana is slowly decreasing. Investors in this area should be careful as volatility and risk of loss are high. The current outflows reinforce the bearish outlook for Solana meme coins. However, as has been proven in the past, the meme coin trend may return. This change may occur in a different chain. However, Solana stands out as one of the top contenders for such a transformation.
