‘Studio karaoke app in your hand’ SOMESING successfully launches beta service

byRaghav Soni

Solana introduced major retailers to a variety of memecoins with the launch of Pump.fun. Here are some token launches that we’re absolutely crazy about!

Memecoins are loosely defined as a genre of cryptocurrency whose creators promote them on social media platforms to create initial hype and drive up the price. The tokens of these memes are available to the general public and anyone who is passionate about coins is welcome to own this fun asset type.

Let’s take a look at some of the origin stories of the Solana-based Meme-coin founders who took themselves so seriously that they were “ready for anything.”

sleph

Imagine you launch a meme coin and accidentally burn $10 million meant for early investors. That happened in March 2024 with SLERF, a Solana-based meme coin.

SLERF, a sloth-themed token, surpassed all Ethereum-based exchanges in trading volume in one day. Despite the uproar caused by a developer mistake that cost more than $10 million in pre-sales, SLERF’s value soared from 3 cents to $1.40. In the first 24 hours, SLERF’s trading volume hit $2.7 billion, with 800,000 transactions from 130,000 traders and a peak market capitalization of $650 million.

The Solana community and exchanges like HTX and Bitget came together to raise over $450,000 in donations to support affected pre-sale participants. This unexpected change made SLERF a “blue chip meme” with ever-increasing trading volume and market capitalization.

The disaster highlighted the fairness of the project. There were no pre-sale allocations for investors to dump and no issues were caused by burned LP tokens. SLERF turned a colossal failure into a colossal success, cementing its place in meme coin history.

challenge

The story of Solana-based meme coin “Truth or Dare” (DARE) is as dramatic as the cryptocurrency world itself. Producer Mikol took a bold idea to extreme levels, but it ended disastrously.

“Truth or Dare” (DARE) gained notoriety in May 2024 due to extreme promotional efforts by developer Mikol. During his live broadcast, Mikol doused himself in isopropyl alcohol and set off fireworks towards himself, resulting in third-degree burns over more than 35% of his body. Despite the severity of his injuries, Mikol assured the community from his hospital bed that he was recovering and would continue his project.

DARE was launched at a modest price of $0.000-1 and its value increased dramatically after the incident, reaching a peak price of $0.0015, an increase of 14000%. At its peak, the token market capitalization was approximately $2,650,000. Although it was disastrous, it ironically succeeded in increasing the popularity and investment interest of the DARE token.

The cryptocurrency community had mixed reactions to this incident. While some praised Mikol’s dedication, others criticized his risky marketing tactics. As interest grew, the token’s value temporarily soared, and Mikol’s community showed their support by contributing to his treatment and continuing to support the project.

Mikol’s risky actions highlight the risks associated with extreme marketing tactics in the cryptocurrency world. Despite the controversy, the DARE community has shown its support by contributing to Mikol’s treatment and continuing to support the project.

Pay Drive

Solana-based meme coin ‘FADE’ gained attention in May 2024 after a promotional stunt went wrong. The creators organized a live-streamed boxing match between the two fighters to promote the token, with the goal of reaching a market cap of $69,000 and potentially listing on Raydium, the Solana DEX. Unfortunately, one player lost a tooth during the game and the game had to be paused for treatment.

Despite this setback, the FADE token reached a market capitalization of $30,000 during the event and took a leading spot in Pump. The token value temporarily fell due to the incident, but the related accounts remain active, leading to speculation about a rematch, but no official news has yet confirmed this.

Currently, FADE’s market capitalization is fluctuating, reflecting the volatility of meme coins. At its peak, FADE achieved significant market capitalization growth, but it remains to be seen whether the hype can be sustained in the long term. This incident highlights just how far some developers will go to promote their tokens within Solana’s competitive meme coin space.

live mom

The LIVEMOM token gained notoriety due to a live streaming stunt in which a teenager and his mom promised to show their boobs if the token’s market capitalization reached $300,000.

The stunt quickly became popular, attracting more than 1,500 viewers. As the market capitalization approached the target, the flow suddenly ended when the son claimed a battery problem. This caused the token’s market cap to plummet to around $120,000 within the next five minutes.

The duo soon launched a new token, LIVEMOM2, on their new stream, but that token quickly dropped to zero and all associated social media accounts were deleted. Nevertheless, the original LIVEMOM The token experienced a community-driven resurgence, with its market capitalization reaching $3 million at one point before stabilizing around $1 million. Afterwards, the community took over the project, created a new website, and continued active discussions.​

possession

The HANDS token story is a classic example of a rug pull that went viral for its boldness. The anonymous developer, “NoHandsNoRug,” streamed on Twitch that he couldn’t work on the project because he had no hands, showing himself holding a piece of paper under his chin to support his claim.

However, just three minutes into the stream, he revealed his hands behind his back, pulled all liquidity from the project, and abruptly ended the stream, leaving investors empty-handed! The developer got his hands on about seven SOLs, which were worth just over $1,000 at the time.

Despite the initial rug pull, the HANDS token has captured the attention of the cryptocurrency community. Within a day, four anonymous individuals began a ‘community takeover’, creating new Twitter and Telegram accounts and developing websites for the tokens. The token’s trading volume was approximately $552,000, but its market capitalization dropped to approximately $16,000 immediately after the acquisition.

Community efforts to revive the token have included burning liquidity to prevent further rugs, but one anonymous trader still holds about a third of the total token supply, creating a potential risk of future manipulation.

Livesis

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

This stunt attracted quite a bit of attention, and when she reached her goal, she took off her top. However, many people speculated that the sister may actually have been a man.

Following this disclosure, the creator sold off his entire holdings while “Pump it Up” played in the background, causing his market capitalization to plummet. The initial stunt saw the token hit its target, but a lug pull soon saw its market capitalization fall to almost zero.

Nonetheless, the token recorded significant trading volume, reaching around $552,000. However, the market capitalization eventually stabilized at around $16,000, and the creator’s actions left many investors disappointed and empty-handed.

This article was inspired by: @starplatinumSOL’s thread On Twitter.

Raghav Soni

Raghav is a significant contributor who uses his knowledge, skills and experience for the development and growth of the organization in an efficient and effective manner.