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Can You WAGMI With Solana Meme Coins? New Study Evaluates Your Odds With Meme Coins On Solana

Meme coins on Solana (SOL) are the latest craze, but what are the odds of making it big via Solana Meme Coins? Find out the stats here.
Solana

Meme coins on Solana (SOL) are the latest cryptocurrency hype, with countless Solana meme coins exploding as retail traders migrated away from high gas fees on ERC-20.

Indeed, just this past week, meme tokens have seen an astonishing influx of over $130M in presales, signaling a breakout meme coin frenzy that’s hard to ignore, as Solana meme coins hit a total market cap of $5.36Bn.

Meme coins on Solana (SOL) are the latest craze, but what are the odds of making it big via Solana Meme Coins? Find out the stats here.

(Source: Meme Coins on Solana)

But amidst the hype and excitement of $2.9Bn 24-hour trading volumes, it begs the question: what’s the real return on investing in meme coins on Solana, and what are your odds of picking a winner in this wild west?

What Are The Odds of Picking a Solana Meme Coin Winner?

Crypto analyst Bread & Butter analyzed 2,793 meme tokens launched in the last 24 hours on Solana to determine and analyze the statistical chance of success for retail amateurs in the burgeoning DEX market.

In the past 24 hours, Solana has seen almost $4 billion in trading volume, with over 2,793 meme coins launched during that time period.

Do the math – that’s 116 new meme coins an hour. Furthermore, the presales raised almost 800,000 SOL, worth around $168 million at its highest price – a jaw-dropping over-evaluation.

Here’s what else they found, analyzing the 2,793 coins launched in the last 24 hours:

  •  Just 385 coins, or 12%, were profitable buys (above 0% return).
  • A substantial 78% of these coins were unprofitable buys (less than 0% return).
  • The average return is -52%.
  • Rugged coins represent an alarming 38%, underscoring that a notable portion of tokens launched on $SOL become worthless within 24 hours.

Meme Coins on Solana: The ROI Reality Check

 

While stories of overnight millionaires and 1,300% returns make headlines, the reality of memecoin investing is far more nuanced – for every success story, the overwhelming majority is majorly underwater.

“The likelihood of randomly selecting a memecoin and turning a profit is very low. One could argue that there’s a distinction between selecting a coin based on thorough research and team analysis versus making random purchases. However, these figures represent the overall probability,” said Bread and Butter.

The Bottom Line: To Meme or Not to Meme

As we wrote earlier this week, Raydium and Solana offer ample opportunities for major gains in meme tokens. However, this comes with serious risks that require effective risk management.

Imagine telling your friends you’ve gone broke over an investment in ‘Dogwifhat?’ It could elicit reactions similar to confessing your favorite movie is a Human Centipede – bewildered amusement mixed with concern. This serves as a stark reminder: trading DEX-launched meme coins is risky. Always proceed with the utmost caution

EXPLORE: $5 Billion Worth Of Bitcoin Shorts Will Be Liquidated If BTC Rockets Above $75,000

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

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2 comments on “Can You WAGMI With Solana Meme Coins? New Study Evaluates Your Odds With Meme Coins On Solana”

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    1. Hi Joey, thanks for reaching out, we understand there has been a lot of concern about Nate and the 99Bitcoins Youtube channel.

      Unfortunately, Nate has decided to part with the channel, although we would’ve liked him to stay – we’re currently in the process of recruiting a replacement presenter.

      Normal scheduling will resume on the 99Bitcoins channel soon 🙂

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