Solana's Celebrity MEME Coins Drop 94% on Average

In a post on the X platform, Slorg, Jupiter's Business Scaling Manager, said that last month the Solana network gave birth to 30 celebrity-launched MEME tokens, covering notable figures from Andrew Tate to Soulja Boy, which were once very popular. However, each of the celebrity coins is now down from their all-time highs, with an average drop of 94%. Even the best-performing tokens are down more than 70%, with half of them down more than 99%, and that's only about a month into their lifecycle. At the time of publication, 22 of these 30 celebrity MEME coins had a market capitalization of less than $1 million. Some of the tokens remain active, as they are regularly discussed on Twitter. Ether co-founder Vitalik said last month that he was very unhappy with this round of celebrity experiments, arguing that financialization is a means to an end, but difficult to accept if the end is a product.