Some of The Craziest Stories Behind Solana’s Meme Coins

By Raghav
Sawhney

Solana
has
brought
major
retail
to
various
memecoins
through
the
launch
of
pump.fun.
There
are
a
few
token-launches
that
have
gone
absolute
Nuts!





Meme-coins
are
loosely
defined
as
a
genre
of
cryptocurrency
where
its
creators
promote
it
on
social
media
platforms
to
create
initial
hype
and
drive
up
the
price.
Tokens
of
these
memes
are
available
to
the
general
public
and
anyone
who
is
enthusiastic
about
the
coin
is
more
than
welcome
to
hold
this
fun
asset
type.

Let’s
explore
a
few
origin
stories
where
Solana-based
Meme-coin
founders
took
“ready
to
do
whatever
it
takes”
too
seriously:

SLERF

Imagine
launching
a
meme
coin
and
accidentally
burning
$10
million
meant
for
early
investors.
That’s
what
happened
with
SLERF,
a
Solana-based
meme
coin,
in
March
2024.

SLERF,
a
sloth-themed
token,
surpassed
all
Ethereum-based
exchanges
in
trading
volume
within
a
day.
The
developer’s
mistake
of
burning
over
$10
million
from
the
presale
caused
a
frenzy,
but
the
value
of
SLERF
soared
from
3
cents
to
$1.4.
In
its
first
24
hours,
SLERF’s
trading
volume
hit
$2.7
billion,
with
800,000
trades
from
130,000
traders,
reaching
a
market
cap
of
$650
million
at
its
peak​.

The
Solana
community
and
exchanges
like
HTX
and
Bitget
rallied
to
support
affected
presale
participants,
raising
over
$450,000
in
donations​.
This
unexpected
twist
made
SLERF
a
“blue-chip
meme,”
with
its
trading
volume
and
market
cap
continuing
to
rise.

The
disaster
highlighted
the
project’s
fairness:
no
presale
allocation
to
dump
on
investors,
and
burnt
LP
tokens
ensured
it
wasn’t
a
rug
pull.
SLERF
turned
an
epic
fail
into
a
massive
success,
cementing
its
place
in
meme
coin
history.

DARE

The
story
of
the
Solana-based
meme
coin
“Truth
or
Dare”
(DARE)
is
as
dramatic
as
it
gets
in
the
crypto
world.
Its
creator,
Mikol,
took
the
idea
of
daring
to
an
extreme
level
that
ended
disastrously.

“Truth
or
Dare”
(DARE)
gained
notoriety
in
May
2024
due
to
an
extreme
promotional
stunt
by
its
developer,
Mikol.
During
a
livestream,
Mikol
doused
himself
in
isopropyl
alcohol
and
had
fireworks
directed
at
him,
resulting
in
third-degree
burns
over
35%
of
his
body.
Despite
the
severity
of
his
injuries,
Mikol
reassured
his
community
from
his
hospital
bed
that
he
was
recovering
and
committed
to
continuing
the
project.

DARE
launched
at
a
modest
price
of
$0.000-1
and
saw
a
dramatic
increase
in
value
following
the
incident,
reaching
a
peak
price
of
$0.0015,
marking
a
14000%
increase.
The
token’s
market
cap
at
its
peak
was
approximately
$2,650,000.
The
stunt,
although
disastrous,
ironically
succeeded
in
boosting
the
DARE
token’s
popularity
and
investment
interest.

The
crypto
community
reacted
with
mixed
feelings
to
the
incident.
While
some
praised
Mikol’s
dedication,
others
criticised
the
dangerous
marketing
tactics.
The
token’s
value
surged
temporarily
due
to
the
increased
attention,
and
Mikol’s
community
has
shown
support
by
contributing
to
his
medical
treatment
and
continuing
to
back
the
project

Mikol’s
dangerous
act
highlights
the
risks
associated
with
extreme
marketing
tactics
in
the
crypto
world.
Despite
the
controversy,
the
DARE
community
has
shown
support
by
contributing
towards
Mikol’s
medical
treatment
and
continuing
to
back
the
project​.

FADELIVE

The
Solana-based
meme
coin
“FADE”
gained
attention
in
May
2024
due
to
a
promotional
stunt
that
went
awry.
The
creators
organized
a
live-streamed
boxing
match
between
two
fighters
to
promote
their
token,
aiming
to
reach
a
$69,000
market
cap
and
potentially
get
listed
on
the
Solana
DEX,
Raydium.
Unfortunately,
during
the
event,
one
fighter
lost
a
tooth,
and
the
fight
had
to
be
paused
for
medical
attention.

Despite
the
setback,
the
FADE
token
managed
to
hit
a
market
cap
of
$30,000
during
the
event,
and
it
gained
a
featured
spot
on
Pump.
The
incident
caused
a
temporary
dip
in
the
token’s
value,
but
there
is
speculation
about
a
rematch
as
the
involved
accounts
remain
active,
though
no
official
news
has
confirmed
this
yet.

Currently,
FADE’s
market
cap
has
fluctuated,
reflecting
the
volatile
nature
of
meme
coins.
At
its
peak,
FADE
achieved
a
significant
market
cap
increase,
but
it
remains
to
be
seen
if
the
hype
can
be
sustained
in
the
long
run.
This
incident
highlights
the
lengths
some
developers
will
go
to
in
promoting
their
tokens
within
the
competitive
meme
coin
space
on
Solana.

LIVEMOM

The
LIVEMOM
token
became
infamous
due
to
a
livestream
stunt
where
a
teenager
and
his
mom
promised
to
show
her
breasts
if
the
token’s
market
cap
reached
$300,000. 

The
stunt
quickly
gained
popularity,
attracting
over
1,500
viewers.
As
the
market
cap
approached
the
target,
the
stream
abruptly
ended,
with
the
son
claiming
battery
issues.
This
caused
the
token’s
market
cap
to
plummet
to
around
$120,000
within
the
next
five
minutes.

The
duo
shortly
launched
a
new
token,
LIVEMOM2
on
a
fresh
stream,
but
it
quickly
fell
to
zero,
and
all
related
social
media
accounts
were
deleted.
Despite
this,
the
original
LIVEMOM

token
experienced
a
community-driven
resurgence,
with
its
market
cap
reaching
$3
million
at
one
point
before
stabilising
around
$1
million.
The
community
has
since
taken
over
the
project,
creating
a
new
website
and
maintaining
active
discussions​

HANDS

The
HANDS
token
story
is
a
classic
example
of
a
rug
pull
gone
viral
for
its
audacity.
The
pseudonymous
developer
“NoHandsNoRug”
streamed
himself
on
Twitch,
claiming
he
couldn’t
rug
pull
the
project
because
he
had
no
hands,
showing
a
piece
of
paper
tucked
under
his
chin
to
reinforce
his
claim. 

However,
just
three
minutes
into
the
stream,
he
revealed
his
hands
from
behind
his
back
and
pulled
all
the
liquidity
from
the
project,
ending
the
stream
abruptly
and
leaving
investors
empty-handed!
The
developer
made
away
with
about
7
SOL,
worth
a
little
over
$1,000
at
the
time​.

Despite
the
initial
rug
pull,
the
HANDS
token
caught
the
attention
of
the
crypto
community.
Within
a
day,
four
anonymous
individuals
initiated
a
‘community
takeover’,
creating
a
new
Twitter
and
Telegram
account,
and
developing
a
website
for
the
token.
The
token
saw
approximately
$552,000
in
trading
volume,
but
its
market
cap
dropped
to
around
$16,000
shortly
after
the
takeover​

The
community’s
efforts
to
revive
the
token
involved
burning
liquidity
to
prevent
further
rug
pulls,
although
one
anonymous
trader
still
held
about
a
third
of
the
entire
token
supply,
posing
a
potential
risk
for
future
manipulation.

LIVESIS

The
LIVESIS
token,
a
clone
project
of
LIVEMOM,
gained
notoriety
for
its
explicit
promotional
strategy.
The
creator
promised
that
once
the
token’s
market
cap
reached
$100,000,
his
sister
would
take
off
her
bra. 

This
stunt
attracted
significant
attention
and,
upon
reaching
the
target,
the
sister
did
go
topless.
However,
many
speculated
that
the
sister
was
actually
a
man.

Following
this
reveal,
the
creator
dumped
his
entire
holding
while
playing
“Pump
it
Up”
in
the
background,
causing
the
market
cap
to
plummet
rapidly.
Although
the
initial
stunt
saw
the
token
hitting
its
goal,
the
rug
pull
led
to
the
market
cap
dropping
to
nearly
zero
shortly
after​.

Despite
this,
the
token
had
moments
of
significant
trading
volume,
with
around
$552,000
recorded.
However,
the
market
cap
eventually
stabilised
at
approximately
$16,000,
and
the
creator’s
actions
left
many
investors
disappointed
and
empty-handed​.

This
article
has
been
written
taking
inspiration
from


@starplatinumSOL
‘s
thread

on
twitter.