The Blast Ecosystem Meme Project, Pacmoon, has announced it will migrate to the Solana network, with the move expected to take place on August 14th

PANews reported on August 8th that according to The Block, the largest meme coin on the Blast network, Pacmoon ($PAC), announced it will migrate to the Solana network, expected to take place on August 14th. Lamboland, a member of the Pacmoon team, stated that the Blast network system "actively suppressed" its native token and did not provide any social support. As a result, Pacmoon will be renamed as $ARMY token. Holders need to burn their $PAC tokens before August 14th when new $ARMY tokens will be airdropped based on the amount burned.

Team member Bobby Big Yield believes that Solana will become this cycle's preferred platform for meme coins as new retail traders are flocking into Solana and seasoned cryptocurrency users are also turning towards this platform. The team anticipates that after rebranding, Pacmoon will attract a wider audience in Solana's saturated meme coin market. After the announcement was made public, $PAC token soared by 118.8% within past 24 hours with its current price at $0.048 and market cap at $22.3 million; it had reached a peak of $104 million in June.

Meme coins on Solana have been continuously appreciating and gaining popularity this year with CoinGecko data showing total market value reaching $6.47 billion and trading volume over past day being around $2.94 billion.