Solana-Based Memecoin Pre-Sales Gain Significant Interest.

In the last three days, Solana-based memecoin projects have raised over $100 million through "pre-sales," a controversial fundraising model.

In the past 72 hours, Solana-based memecoin projects have raised approximately $100 million worth of Solana through token pre-sales. This extraordinary interest has surprised the crypto community, prompting consecutive warnings to investors.

According to aggregated data provided by crypto researcher 0xGumshoe, crypto traders sent around $100 million worth of Solana to purchase unreleased memecoins such as BOME (Book of Meme), $NAP (NAP), NOS (Nostalgia), among others, in the last 72 hours.

Some have criticized this surge in interest, with one individual commenting on their X account, "This is the pinnacle of legal corruption. Investing $180,000 and $90,000 in memecoins."

The memecoin pre-sale frenzy gained momentum with the launch of a memecoin called Book of Meme, utilizing a controversial mass fundraising model.

Launched on March 14 by a user with the pseudonym Darkfarms1, with an initial value of around $4 million, BOME saw a staggering increase of more than 36,000% within just 56 hours, reaching a peak market value of $1.45 billion.

According to a post by blockchain analysis platform Lookonchain on March 17, an early investor and personal friend of BOME's creator, sundayfunday.sol, impressively turned an initial investment of 420.69 Solana into $32 million in just 3 days.

A "pre-sale" involves crypto investors sending a specific cryptocurrency to a wallet address and, in exchange, receiving a designated amount of tokens when they are distributed.

However, there's no guarantee that an investor will receive tokens in return for the crypto sent in advance of a pre-sale. This uncertainty makes pre-sales a popular scheme among scammers and fraudsters, as they can exploit uninformed investors.

Ethereum educator Anthony Sassano harshly criticized the pre-sale model, stating that anyone who sends money to a random wallet address in the hopes of receiving tokens is "very foolish."

"Two years later, everyone is back to Ponzi schemes. People can do whatever they want with their money, but sending it to a 'memecoin pre-sale' with a 99.9% chance of failure is really very foolish," he said.

Meanwhile, the meme coin craze has transcended the narrow confines of the crypto world.

David Sacks, a prominent partner in the "All In" podcast and entrepreneur, witnessed the escalation of events surrounding meme coins and contributed to a user making approximately $39,000 in profit from this trend.

DeFiRabbitHole, a fictitious user on X, predicted that another meme coin based on the All In podcast would gain in value when posts about Sacks' meme coin began.

When Elon Musk tweeted to All In podcast host Jason Calacanis, "Ok, I'll take your bet," the associated JASON coin experienced a sudden spike, boosting investors' initial investments from 1 SOL to 200 SOL.

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