High-Risk Appetite Evident as PUNDU Meme Coin Raises $100 Million

DAO Maker has achieved a remarkable feat, securing nearly $100 million in a presale for the PUNDU meme coin.

The significant investment contributed within 36 hours reflects a pronounced appetite for high-risk ventures in the crypto market. However, the overwhelming response resulted in an oversubscription, necessitating refunds for contributors who sent funds post-target attainment.

Solana Meme Coins in High Demand

DAO Maker unveiled an impressive $97.6 million raised across Binance Smart Chain and Solana, drawing support from over 20,000 users. PUNDU, introduced by the launchpad just days ago, swiftly captured investor interest, with contributions exchanging SOL and USDT for PUNDU allocations.

This success marks a milestone, establishing PUNDU’s presale as the largest for a meme coin. Most deposits originated from Binance Smart Chain, amassing $60 million. However, the Solana presale address also saw substantial activity. It received 212,404 SOL, equivalent to $37.6 million, surpassing the 33,333 SOL hard cap, highlighting the fervent interest in meme coins within the Solana ecosystem.

While PUNDU awaits its launch date, the meme coin pledges a fair rollout, earmarking 40% of tokens for the presale, another 40% for liquidity pools, and distributing the remaining 10% equally between marketing efforts and long-term exchange listings.

Read more: 6 Best Platforms To Buy Solana (SOL) in 2024

According to crypto investigator ZachXBT, Solana presales have raised more than 796,000 SOL, equivalent to around $149.20 million. Such mania urged Solana Labs Co-Founder Anatoly Yakovenko to advise investors to “stop” sending SOL presales.

“To me, it’s just a bizarre thing, I think, of people being terminally online and kind of having nothing better to do,” Yakovenko said.

Moreover, the frenzy surrounding meme coins led to the emergence of racist tokens. These meme coins, with offensive names, symbols, and imagery, include racial slurs, anti-Semitic references, and Nazi imagery.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : BeingCrypto – https://beincrypto.com/solana-meme-coin-nears-100-million/