Inept developers, presale teams running off with the funds, rug pulls and sentiment collapsing are just some of the dangers memecoin investors need to be aware of
Solana’s latest boom and its DEX developments have brought on a new wave of excitement to its decentralized applications.
“I don’t feel satisfied even if my money comes back,” says one investor who spoke to Magazine on the condition of anonymity.Slerf’s price performance following presale burn. that it was a mistake, and many noted the crying dev in a Spaces event after the incident certainly sounded genuine. Winston Ma, an adjunct professor of law at New York University, tells Magazine that if such a mistake occurred in a regulated environment, the case might fall under tort law.
“People can win a lot, and people can also lose a lot, and this might create bad emotions,” Roman Big_Cat, pseudonymous product chief at Solana-based memecoin project Laika, tells Magazine.6 Questions for...Anyone can create an online persona and disappear after conducting a successful memecoin scam. The same person can return the next day under a different pseudonym and a fresh memecoin. There were 19,000 new memecoins created this week. It seems unlikely they were all created by first-timers.
Investors have ways to defend themselves from liquidity pool rugs by confirming that the project has locked liquidity, which ensures that developers cannot withdraw from the pool. According to Ma, the presale campaigns advertised on social platforms such as X can be viewed as public solicitation.require
The allure of quick profits often overshadows due diligence for investors in the Solana memecoin frenzy, and it has drawn comparisons to the ICO boom of 2017.
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