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As you can see, the hype around memetic cryptocurrencies mined on the Solana blockchain continues. A new token called GUMMY has risen in price to almost $0.2 since yesterday and has already given some willing traders a good head start.
The Solana blockchain is working at full capacity again after temporary setbacks, and more and more memcoins are appearing on it,
Yesterday, the token GUMMY was mined on this network, which managed to gain a market capitalization of almost $190 million in a very short period of time,
Since yesterday, the price of this memcoin has increased by almost 10,000%. One trader managed to turn $9769 into $10 million, making a 1025-fold profit.
The good old memcoin craze continues
The Solana network continues to create the largest number of memecoin cryptocurrencies. While the extremely high demand for blockchain space to mine and trade them on decentralized exchanges (DEX) recently caused the network to become overloaded, things are now back to normal after an update.
Following this, new memcoins are reappearing on the network, which, despite a complete lack of any utility or fundamentals, are able to show impressive results on their price charts.
Yes, these purely speculative tokens are capable of making many traders millionaires in a short period of time, but there is no shortage of cases where someone "lost" a significant amount of capital on this kind of investment. So from the very beginning, we would like to remind you that this segment of the cryptocurrency market is incredibly risky, and never invest more than you can lose.
Yesterday, this network created a new token called GUMMY, which managed to grow by 9819% to $0.19 in 24 hours. The market capitalization of this memcoin at the time of writing these words is already $189.46 million.
A Twitter account tracking various unusual movements on the blockchain - Lookonchain - yesterday drew attention to a certain address, the owner of which in a short period of time received 1025-fold profit on GUMMY.
The nonce withdrew his $9770 worth of SOL tokens from the centralized MEXC exchange, with which he bought the young memcoin. Its growth in value allowed him to earn as much as 10 million dollars.
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