In the wild west of Solana’s memecoin mania, one intrepid token creator has taken the craze to dizzying new heights. Armed with little more than a few clicks on the Pump.fun platform, this prolific minter has unleashed a staggering 18,000 memecoins upon the blockchain in just six months – and walked away with a cool $3.7 million in profit.
The Memecoin Machine
While Solana has become a hotbed for memecoin creation, with over 27 million tokens minted since the blockchain’s launch, one individual has taken token generation to an almost compulsive level. According to on-chain sleuth @mezoteric, a single Pump.fun user has spawned a jaw-dropping 18,000 memecoins over a half-year period.
Following the wallet, he wakes up and spawns an average of 18 tokens per hour before going to bed, every day for 6 months.
– @mezoteric
Minting Millions
This minting marathon has been more than just a creative outlet – it’s been an incredibly lucrative endeavor. Over the course of this six-month memecoin spree, the creator has amassed a mind-boggling $3.7 million in profits.
However, the source of these profits remains murky. Pump.fun, the platform enabling this token creation, has come under fire for the rampant rug-pulls occurring on the site daily.
Allegations and Legal Action
Amidst a flurry of rug-pull allegations, Pump.fun now faces legal action in the United States. A law firm has filed a lawsuit accusing the platform of negligence in the face of prolific scams, failing to protect investors from substantial financial losses.
- Over 27 million memecoins created on Solana since launch
- One creator minted 18,000 tokens in 6 months
- $3.7 million in profits generated by the serial minter
- Pump.fun platform faces lawsuit over alleged rug-pulls
Key Takeaways
- Solana’s memecoin mania has enabled one creator to mint 18,000 tokens in six months
- The serial minter has generated $3.7 million in profits, though the source is unclear
- Pump.fun, the platform used, faces a lawsuit over alleged negligence regarding rug-pulls
- The memecoin craze on Solana shows no signs of slowing, despite legal and financial risks
As the Solana memecoin machine continues to churn out new tokens at a dizzying pace, this wild west of crypto creation is proving to be a high-risk, high-reward arena. While some, like our compulsive creator, are minting millions, others are left holding the bag as rug-pulls and scams run rampant. As legal challenges mount, the future of this memecoin mania hangs in the balance – but for now, the tokens keep coming, the profits keep flowing, and the Solana blockchain keeps growing, one meme at a time.