21M News

Solana meme cash plunged 10% within the final 24 hours, led by steep declines for Harold, Prime Hat and Butthole Coin, as Trump household meme cash continued to slip.

HAROLD plunged greater than 37%, whereas HAT and BUTTHOLE noticed their costs drop over 31% and 30%, respectively, within the final 24 hours.

BONK, FARTCOIN, WIF And TRUMP All Undergo Value Drops

4 out of the highest 5 Solana meme cash recorded value drops within the final 24 hours as nicely, with solely Pudgy Penguins (PENGU) bucking the downtrend with an nearly 5% pump.

Bonk (BONK) pulled again greater than 6%, whereas canine-themed rival Dogwifhat (WIF), the fifth largest SOL meme coin by market cap, underwent a 3% correction throughout the identical time interval.

Equally, Fartcoin (FARTCOIN) plummeted over 15%, to put up the largest 24-hour loss within the high 5 SOL meme cash listing. Just lately launched Official Trump (TRUMP), which took the crypto market by storm with its debut only a few days in the past, has climbed the ranks to grow to be the biggest Solana meme coin. Nevertheless it was additionally unable to resist the promoting strain, leading to a 15% value drop.

Melanie Meme (MELANIA) was the largest loser among the many largest 10 Solana meme cash by market cap with a 30% plunge.

TRUMP And MELANIA Launches Lead To Congestion On Solana Community

Solana, with its lightning-quick speeds and low charges, has grow to be the community of selection for meme coin builders. That is the primary motive the US President’s workforce determined to deploy their tokens on Solana.

Nevertheless, Solana has grow to be a sufferer of its recognition, as new tokens enter the ecosystem each day and all compete for the blockchain’s computation energy. The scenario worsened following the launch of TRUMP and MELANIA, which attracted 1000’s of recent buyers to the Solana blockchain directly. A number of service suppliers suffered delays resulting from congestion.

We’re at present experiencing a large surge of 8,000,000+ requests per minute. Whereas we work to stabilize our platform, transactions could have bother going by on the primary attempt.

We admire your endurance 🙏

— Phantom (@phantom) January 19, 2025

Solaxy (SOLX), with its native layer-2 chain, goals to assist remedy the issue with its first Solana-focused scaling answer. By operating in parallel with the Solana mainnet, the mission will improve the computational capability of the community, which can subsequently result in greater transaction throughput and even decrease charges.

Presently within the presale stage, the mission has already raised over $13.6 million.

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