- Solana memecoins PNUT and ACT are down 10.38% and 9.48% over the previous day.
- PNUT and ACT collapsed by 36.94% and 43.34% within the final week alone.
- The most important Solana memecoin, BONK, has surged 31% over the previous seven days.
Though Bitcoin has reached a brand new all-time excessive, the memecoin frenzy on the Solana blockchain seems to be calming down. Solana memecoins Peanut the Squirrel (PNUT) and Act I: The AI Prophecy (ACT) have seen important worth drops following their latest itemizing on Binance. This slowdown casts a shadow over sturdiness of memecoin hype and highlights the dangers to spend money on such unstable belongings.
Each have been listed on Binance, the world's largest digital asset buying and selling platform, however each collapsed considerably; PNUT by 10.38% to $1.44 and ACT by 9.48% to $0.4791.
Learn additionally: PEPE, PNUT and PONKE: the Memecoin trio takes over
Within the final seven days alone, ACT has collapsed by 43.34%, whereas PNUT has misplaced 36.94% of its worth. PNUT is buying and selling at a 40.72% low cost from its all-time excessive of $1.44, whereas ACT is down 48.61% from its all-time excessive of $0.942.
Earlier than their itemizing on Binance, these cryptocurrencies had seen monumental features. In accordance with CoinMarketCap information, ACT rose 1,690.21% and PNUT surged 2,634.67% over the previous month, outperforming most altcoins and producing important income for holders.
The dangers and rewards of investing in Solana Memecoins
Memecoins are extraordinarily unstable and speculative belongings that derive their worth from media hype. Whereas Dogecoin (DOGE) and Shiba Inu (SHIB) lead the memecoin sector, Solana-based memecoins have outperformed these two over the previous yr.
For instance, Bonk (BONK), Solana's high memecoin, surged 5.9% within the final hour and 31.7% within the final seven days. Nonetheless, dogwifhat (WIF) fell 22.4% over the previous week and Popcat (POPCAT) fell 19.9% over the previous seven days. Information from CoinGecko exhibits that the entire valuation of Solana memecoins stands at $20.8 billion.
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