Solana Meme Coins Plunge 10% As HAROLD, HAT, And BONK Lead Declines

Solana
meme
coins
plunged
10%
in
the
last
24
hours,
led
by
steep
declines
for
Harold,
Top
Hat
and
Butthole
Coin,
as
Trump
family
meme
coins
continued
to
slide.

HAROLD
plunged
more
than
37%,
while
HAT
and
BUTTHOLE
saw
their
prices
drop
over
31%
and
30%,
respectively,
in
the
last
24
hours.

BONK,
FARTCOIN,
WIF
And
TRUMP
All
Suffer
Price
Drops

Four
out
of
the
top
5
Solana
meme
coins
recorded
price
drops
in
the
last
24
hours
as
well,
with
only
Pudgy
Penguins
(PENGU)
bucking
the
downtrend
with
an
almost
5%
pump.

Bonk
(BONK)
pulled
back
more
than
6%,
while
canine-themed
rival
Dogwifhat
(WIF),
the
5th
largest
SOL
meme
coin
by
market
cap,
underwent
a
3%
correction
during
the
same
time
period.

Similarly,
Fartcoin
(FARTCOIN)
plummeted
over
15%,
to
post
the
biggest
24-hour
loss
in
the
top
5
SOL
meme
coins
list.
Recently
launched
Official
Trump
(TRUMP),
which
took
the
crypto
market
by
storm
with
its
debut
just
a
few
days
ago,
has
climbed
the
ranks
to
become
the
largest
Solana
meme
coin.
But
it
was
also
unable
to
withstand
the
selling
pressure,
resulting
in
a
15%
price
drop.

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

TRUMP
And
MELANIA
Launches
Lead
To
Congestion
On
Solana
Network

Solana,
with
its
lightning-quick
speeds
and
low
fees,
has
become
the
network
of
choice
for
meme
coin
developers.
This
is
the
main
reason
the
US
President’s
team
decided
to
deploy
their
tokens
on
Solana.

However,
Solana
has
become
a
victim
of
its
popularity,
as
new
tokens
enter
the
ecosystem
on
a
daily
basis
and
all
compete
for
the
blockchain’s
computation
power.
The
situation
worsened
following
the
launch
of


TRUMP

and
MELANIA,
which
attracted
thousands
of
new
investors
to
the
Solana
blockchain
at
once.
Several
service
providers
suffered
delays
due
to
congestion.

We’re
currently
experiencing
a
massive
surge
of
8,000,000+
requests
per
minute.
While
we
work
to
stabilize
our
platform,
transactions
may
have
trouble
going
through
on
the
first
try.

We
appreciate
your
patience
????

—
Phantom
(@phantom)

January
19,
2025

Solaxy
(SOLX),
with
its
native
layer-2
chain,
aims
to
help
solve
the
problem
with
its
first
Solana-focused
scaling
solution.
By
running
in
parallel
with
the
Solana
mainnet,
the
project
will
increase
the
computational
capacity
of
the
network,
which
will
subsequently
lead
to
higher
transaction
throughput
and
even
lower
fees.

Currently
in
the
presale
stage,
the
project
has
already
raised
over
$13.6
million.

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