Yesterday I said I was finally going to tell you guys about my adventure into the meme world of Solana, but so many things were happening at the same time so I’m like okay I’ll wait till today but lo and behold, yesterday’s drama was nothing compared to what happened today.

This was how I started this post yesterday, but here we are a day after, which is today. Stay with me. It’s still as hot.

The $SLERF story

I don’t even know where to start from, but few days ago, amidst all the meme craze on Solana, a dev created a meme and mistakenly burnt over $10m presale funds when the meme launched, it was literally a true moment of “oh fuck”, I’m not making this up, that was exactly what the dev tweeted when it happened.

Many people who participated in the presale got furious, throwing curses everywhere, it was intense, I couldn’t stop laughing where I was, it felt like a prank to me, who raises such funds and burns it by mistake, only in crypto bro !

Imagine someone in tradFi pulling such stunt, he will surely do jail. Lmao! So I dropped my phone and went to sleep, I wake up next morning and the SLERF meme token was close to $1b in marketcap. I’m like wtf!!!!!!!

Incase you wanted to ask….erm no, I didn’t buy it.

The $Smole $30m burn

So the crazy story didn’t end there, just when you think things couldn’t get crazier, the dev of another popular Meme pulled another stunt upon launch of the meme, $Smole, after surviving many inconsistencies in the launch of the token and in the dispersal of airdrops promised, he went ahead to burn $30m of LP funds raised by the community.

But this one was deliberate, ofcourse it came with its own drama between the dev and the community, many people wanted the dev to burn it as per what was marketed from the inception, but the dev claimed he’s been advised to make better use of the funds for things like marketing, buy backs, and time locks.

$Smole community Pissed AF!

But the community would not have it, we’ve seen this play out many times, one person will control the keys and go missing in the sunset in the Bahamas shaking their bum wearing thongs. Many people also claimed he’ll only lock it for his grand children in the future.

Long story short, he ended up burning the entire $30m, and the $Smole token has been struggling to come alive since then. Many people thought burning the $30m will somehow pump the value of the remaining tokens but it doesn’t work like that.

One thing I’ve noticed is that these tokens majorly react to sentiments, dilly dallying and pissing everyone off and eventually burning $30m doesn’t exactly automatically restore confidence in the product, plus burning $30m doesn’t automatically bring value, if the token doesn’t have demand, burning any percentage isn’t going to automatically bring demand lol.

⏳⌛️ Memes and Solana

Many lessons to learn from all this Solana meme drama, will $Smole meme still stand a chance at success? Only time will tell. But if the $Smole drama did get anything right, it was in drawing a huge amount of attention and in this space, attention can be everything.

Meme activity on Solana will make you feel as if Trading memes is all that goes on inside Solana, that’s one hell of a way to own a narrative, and frankly, it's a narrative Solana seems to wear like a badge of honor. It's wild, unpredictable, and chock-full of lessons on the volatile nature of meme coins and the crypto market at large.

Speaking of unpredictability, this hasn't deterred my interest, if anything, it's only piqued it further. Amidst the chaos and drama, there's an undeniable allure to the meme coin madness on Solana. It's a testament to the power of community, the strength (and sometimes folly) of conviction, and the sheer unpredictability of the crypto space.

Sometimes it’s the story sometimes it’s just vibes lol

Here's the kicker though, despite the potential for drama, the allure of meme coins on Solana speaks volumes about the vibrant, albeit sometimes erratic, pulse of the crypto community. It's a reminder that behind every meme coin, there's a story, a community, and a dream - however fleeting or absurd it may appear to the outside world.

So will the $Smole dev prove himself and make use of attention he’s generated to turn things around for the $Smole community? I’ve seen interesting partnerships with exchanges, will he be able to get the big guns like Binance? Will he have something under his sleeves other than the ability to razzle attention? Will he turn out to be an attention genius or will this be the end of the $Smol?

Let me know what you guys think in the comment below.

images are from the SLERF and Smole community

Posted Using InLeo Alpha