Solana-Based Memecoin $PAIN Raises $39.2 Million in Two-Day Presale
$PAIN, a Solana-based meme coin, has achieved a significant milestone by raising 187,774 SOL (approximately $39.2 million) during a two-day presale, marking one of the largest fundraising events for a meme coin project.
- The presale was reported by data analytics platform SolanaFloor.
- This event reflects growing investor interest in memecoins amid a broader trend in the crypto market.
- Solana's blockchain attributes, such as fast transaction speeds and low fees, contribute to its popularity for launching new tokens.
- Previous successful Solana-based memecoins include Pandiana, Sealana, and PEPE coins.
Investors are advised to exercise caution with memecoins, as past performance indicates that many projects abandon their efforts post-presale. For instance, 12 out of 27 similar projects reported by Coingecko last May were abandoned. The future performance of $PAIN will depend on factors including community engagement, upgrades, and market conditions.