Solana Meme Cash Drop 10% Led By HAROLD, HAT, BONK

Solana meme cash plunged 10% within the final 24 hours, led by steep declines for Harold, High 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 effectively, 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 submit the largest 24-hour loss within the high 5 SOL meme cash record. Just lately launched Official Trump (TRUMP), which took the crypto market by storm with its debut just some days in the past, has climbed the ranks to change into the biggest Solana meme coin. Nevertheless it was additionally unable to face up to the promoting stress, 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 change into the community of alternative for meme coin builders. That is the primary cause the US President’s group determined to deploy their tokens on Solana.

Nonetheless, Solana has change into a sufferer of its recognition, as new tokens enter the ecosystem each day and all compete for the blockchain’s computation energy. The state of affairs worsened following the launch of TRUMP and MELANIA, which attracted 1000’s of latest traders to the Solana blockchain without delay. A number of service suppliers suffered delays as a consequence of congestion.

We’re at the moment experiencing an enormous surge of 8,000,000+ requests per minute. Whereas we work to stabilize our platform, transactions might have hassle going by on the primary strive.

We recognize your persistence 🙏

— Phantom (@phantom) January 19, 2025

Solaxy (SOLX), with its native layer-2 chain, goals to assist resolve the issue with its first Solana-focused scaling resolution. 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.

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

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