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JELLYJELLY By Venmo Co-Founder Takes Solana By Storm: Best Solana Crypto to Buy?

JellyJelly, a new Solana meme coin, gained hype with Venmo founders and Yakovenko's support— best Solana crypto to buy?

By Fatima

Last Updated: Jan 31, 2025

Fact checked

By Sam Cooling

JellyJelly (Jelly My Jelly) is a new meme coin on the Solana blockchain. It was created by Iqram Magdon-Ismail, co-founder of Venmo, and Sam Lessin, an early Venmo investor. The coin launched on Pump.fun and quickly gained attention, especially after Solana co-founder Anatoly Yakovenko voiced his support. All these premises might make you think that this is the best Solana crypto to buy, but is that really the case?

JellyJelly (Jelly My Jelly) is a new meme coin on the Solana blockchain. Iqram Magdon-Ismail, co-founder of Venmo, and Sam Lessin, an early Venmo investor, created it.

The coin launched on Pump.fun and quickly gained attention, especially after Solana co-founder Anatoly Yakovenko voiced his support. All these premises might make you think that this is the best Solana crypto to buy, but is that really the case?

JELLYJELLY Price Analysis: Will Venmo Founder’s Solana Meme Coin Crash and Burn?

Right after its launch, JellyJelly’s value soared. In a matter of hours, its market cap jumped to $256 million. But the excitement didn’t last long. Less than a day later, the price dropped by 74%, bringing the market cap down to $61 million.

Some say this was just early investors cashing out. Others believe Yakovenko’s endorsement pushed prices too high, too fast. Once the price peaked, early buyers may have sold, causing the decline.

(JELLYJELLYUSDT)

Could The App Make JellyJelly The Best Solana Crypto To Buy?

JellyJelly is tied to a video-sharing app with the same name. Still in development, this app will allow users to record and share short video calls with AI-powered features.

Holders of the JellyJelly token are promised early access to the app. This has given some investors hope. They believe the token’s value will grow once the app launches and people start using it.

Not everyone is convinced. Critics point out that the app is not finished, and it is unclear how the coin will be used within it. If the token has no real function, it may struggle to regain value.

Some traders worry the launch was designed to benefit early buyers, leaving later investors with big losses.

Sam Lessin Deleted Post Started Backlash in JELLYJELLY Crypto Community

After people noticed the deleted tweet, Lessin addressed the situation, saying he was simply unfamiliar with how things work in the meme coin space. He told followers:

“Hey folks doing the JellyJelly thing – a few people pointed out to me that when I deleted some tweets people were confused — I am new to this type of coin space so sorry!”

He added that those interested should listen to his Twitter Space discussion with Iqram Magdon-Ismail, the other co-founder. He reassured investors that he is not selling his tokens and still holds the Genesis wallet, which means he was among the first to receive JellyJelly coins.

Not everyone accepted his explanation. Critics argue that Lessin is downplaying his knowledge of crypto. Some pointed out that he was an early investor in Solana, making his claim of being “new to this type of coin space” hard to believe.

The future of JellyJelly depends on whether the app delivers on its promises. If it successfully integrates the coin, demand may rise again, making it one of the best Solana meme coin to buy right now. If not, the price could drop even further.

For now, the project’s future remains uncertain. Lessin insists that JellyJelly is still in its early stages and that plans are coming together. However, for some investors, his deleted tweet and explanation have only added to their doubts.

Best Crypto to Buy 2025? Solana’s Scaling Crisis and How Solaxy Could Fix It

 Solaxy ($SOLX) comes in, offering a Layer-2 solution to keep the network running smoothly.

Solana has recently become one of the busiest blockchains, attracting meme coins and large-scale crypto projects. Pump.fun has flooded the network with new tokens, including the explosive rise and fall of JellyJelly.

Meanwhile, high-profile launches like Donald Trump’s TRUMP token have pushed Solana’s activity to record levels. While this has brought in huge volumes, it has also led to serious congestion issues, slowing transactions, and increasing failures.

This is where Solaxy ($SOLX) comes in, offering a Layer-2 solution to keep the network running smoothly.

Solana’s Meme Coin Boom and Growing Network Strain

Since Pump.fun became popular, Solana has seen a surge in meme coins, including JellyJelly, which skyrocketed in value before crashing by 74% in just a day. While some saw JellyJelly as a joke, others believed in its connection to a real app. However, its rapid price swings led to doubts about its long-term value.

At the same time, TRUMP and MELANIA tokens brought in massive trading volume, showing how Solana is attracting attention from mainstream figures. The excitement pushed Solana’s price to a new high of $293 but also revealed weaknesses in the network’s capacity. Transactions began failing, and many users struggled to trade efficiently.

Solaxy: The Solution to Solana’s Congestion

Solaxy ($SOLX) aims to fix these problems by introducing Solana’s first-ever Layer-2 scaling solution. With more users and developers joining the ecosystem, Solana needs better infrastructure to support high traffic. Solaxy’s technology will improve network speed, reduce failures, and allow more complex projects to thrive.

Solaxy’s presale has already raised over $16.5 million, showing strong investor interest. The token is still priced at $0.00162, offering an opportunity for early buyers before it fully launches. Analysts believe that as Solana grows, Layer-2 solutions like Solaxy will become essential.

For investors looking to enter early, the Solaxy presale is still open. The Solaxy website makes participation easy, where buyers can connect their wallets and purchase tokens using SOL.

With Solana’s growing adoption, Solaxy could play a key role in shaping the blockchain’s future.

Visit Solaxy Here

EXPLORE: Crypto Hacks Drop 44% In January As Hackers Steal $73M

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Fatima
Fatima
Crypto Journalist
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