Over a Million Tokens Launched Since April: The Memecoin Frenzy

Over a Million Tokens Launched Since April: The Memecoin Frenzy

The memecoin craze has led to a surge in new token launches, with over a million tokens launched since April. According to data from DuneAnalytics, the majority of these tokens were launched on Solana and Ethereum.

Notably, around 640,000 tokens were launched on Solana, while approximately 370,000 tokens were launched on Ethereum. This is a staggering number, with Coinbase Director Conor Crogan stating that the total number of tokens launched on Ethereum since 2015 is roughly half the number of tokens launched in the past few months.

Interestingly, almost 90% of the tokens launched on Ethereum were generated through Base, the Layer-2 blockchain developed by Coinbase. On Solana, 466,914 tokens were memecoins.

While some memecoins have seen significant gains, the hype surrounding these tokens also comes with risks. Investors should exercise caution when considering these tokens, as the market can be unpredictable and subject to sudden changes.

The memecoin frenzy has led to a proliferation of new tokens, with many seeking to follow in the footsteps of popular coins like Dogecoin, Bonk, and Pepe. However, it's essential to remember that the success of these tokens is not guaranteed and that investors should approach with caution.

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