- Solana memecoins PNUT and ACT are down 10.38% and 9.48% within the final day.
- PNUT and ACT have fallen by 36.94% and 43.34% within the final week alone.
- Solana's greatest memecoin, BONK, is up 31% within the final seven days.
Though Bitcoin has hit a brand new all-time excessive, the memecoin craze on the Solana blockchain appears to be cooling off. Memecoins Solana, Peanut the Squirrel (PNUT) and Act I: The AI Prophecy (ACT) have seen vital value drops following their current itemizing on Binance. This decline casts a shadow on the sustainability of the memecoin hype and warns of dangers investing in such unstable property.
Each had been listed on Binance, the world's largest digital asset buying and selling platform, however each crashed considerably; PNUT up 10.38% to $1.44 and ACT up 9.48% to $0.4791.
Additionally Learn: PEPE, PNUT and PONKE: The Trifecta Memecoin Takeover
Within the final seven days alone, ACT has plunged 43.34%, whereas PNUT has misplaced 36.94% of its worth. PNUT is buying and selling 40.72% off its all-time excessive of $1.44, whereas ACT is down 48.61% from its all-time excessive of $0.942.
Earlier than itemizing on Binance, these cryptocurrencies noticed enormous positive factors. In accordance with CoinMarketCap knowledge, ACT has risen by 1690.21% and PNUT by 2634.67% previously month, outperforming most altcoins and producing vital positive factors for holders.
Dangers and Advantages of Investing in Solana Memecoins
Memecoins are extraordinarily unstable and speculative property that derive their worth from hype. Whereas Dogecoin (DOGE) and Shiba Inu (SHIB) lead the memecoin sector, Solana-based memecoins have outperformed the 2 over the previous yr or so.
For instance, Bonk (BONK), Solana's prime memecoin, is up 5.9% within the final hour and 31.7% within the final seven days. Nevertheless, dogwifhat (WIF) is down 22.4% over the previous week and Popcat (POPCAT) is down 19.9% over the previous seven days. CoinGecko knowledge exhibits that the full valuation of Solana memecoins is $20.8 billion.
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