Solana Meme Coin $PAIN Raises $39.2M in Just Two Days | Coinspeaker
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Solana Meme Coin $PAIN Raises $39.2M in Just Two Days

$PAIN meme coin project achieves unprecedented success by raising 187,774 SOL in a two-day presale, amid growing interest in Solana-based meme tokens.

Mayowa Adebajo By Mayowa Adebajo Marco T. Lanz Edited by Marco T. Lanz Updated 2 mins read
Solana Meme Coin $PAIN Raises $39.2M in Just Two Days

Key Notes

  • Solana's fast transactions and low fees have made it a preferred platform for meme coins, driving increased investor attention.
  • Historical data shows mixed outcomes for similar projects, with 12 out of 27 being abandoned post-presale according to Coingecko.
  • Project's future success hinges on community engagement and market conditions, despite record-breaking initial fundraising.

It appears that the Solana-based meme coin $PAIN has made history after recording what is arguably one of the largest fundraising events for a meme coin project. As reported by SolanaFloor, $PAIN raised an impressive 187,774 SOL, worth about $39.2 million, in a two-day presale.

The data analytics platform, which tracks Solana projects, made this announcement amid an ongoing memecoin frenzy.

$PAIN Flourishes As Memecoins Continue to Dominate the Crypto Market

Recently, investors have been looking at memecoins with such keen interest, even as they anticipate that they might be the next big opportunity in crypto.

This sudden interest has now translated to a growing popularity for memecoins within the crypto ecosystem, particularly the Solana-based ones.

Contributing to the popularity of these coins is the fact that the Solana blockchain prides itself on its fast transactions and low fees. These qualities have also made it the go-to platform for launching new tokens.

Therefore, the presale success of $PAIN does not exactly come as shocking. Rather, it follows in the footsteps of other popular Solana-based memecoins to have come before it. This is especially true since they also attracted similar attention while generating significant funding. Some examples include Pandiana ($PNDA), Sealana (SEAL), and more recently PEPE coins.

What’s Next?

$PAIN is undoubtedly off to a great start. At least its record-breaking presale suggests this. However, it would be safer for investors to approach these types of memecoins as cautiously as possible in the meantime.

Last May, Coingecko reported that 12 out of 27 similar projects were abandoned after the presale stage, leaving investors with huge losses. Despite this, some Solana-based memecoins have been largely successful, with the Official Trump (TRUMP) token being a prime example of these.

It remains to be seen how $PAIN would perform once it begins trading. However, history shows that the project’s long-term success would depend on several factors like community engagement, upgrades, and overall market conditions.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Mayowa Adebajo

Mayowa is a crypto enthusiast/writer whose conversational character is quite evident in his style of writing. He strongly believes in the potential of digital assets and takes every opportunity to reiterate this. He's a reader, a researcher, an astute speaker, and also a budding entrepreneur. Away from crypto however, Mayowa's fancied distractions include soccer or discussing world politics.

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