• Solana memecoin by Milady attracts $18.7 million in 2 hours, oversubscribed presale
  • WIF memecoin hits new high but faces challenges like accidental burning of 53,000 SOL in presale

Solana has reached its $18.6 million presale goal within 2 hours, astonishing people, and showcasing the popularity and craze of memecoins.

Solana has reached its presale goal at an astonishing speed

A novel memecoin named Solana has attracted 91,486 SOL ($18.7 million) within 2 hours of its presale announcement. It is designed by the Nonfungible token (NFT) collection Milady. By the way, a non-fungible token (NFT) is a unique digital identifier recorded on a blockchain and used to certify ownership and authenticity.

On March 18, Milady announced that the Solana memecoin, named Milady Wif Hat after the popular Solana memecoin Dogwifhat (WIF), will have a 1 SOL minimum investment and a maximum of 88,888 SOL. Just a few hours later, the presale had been oversubscribed. “Milady Wif Hat presale has soared to its limit of 88,888 SOL and is now closed,” wrote the team, adding: “Any additional Solana raised will have 100% of their funds returned.”

The Milady NFT collection consists of 1,000 anime-inspired profile picture avatars, is sought after in the current cryptocurrency bull market, and is fuelled by Su Zhu, co-founder of Singapore-based hedge fund Three Arrows Capital.

Also read: Bitcoin surges to all-time high, fuels altcoin recovery

Memecoins became very popular with their cute appearance and their fans’ advertisement

Memecoins have shown their power as part of the crypto bull run. Previously, on March 14, WIF stood at $3 as a new record. For the fans of Memecoins, over $70,000 was raised to advertise the token’s logo on the Las Vegas sphere. WIF has been the best-performing memecoin of the current cycle, with a profit of over 1,000,000% since its launch in late November 2023, and benefited from its recent Binance listing.

However, token developer Slert accidentally burned 53,000 SOL in a well-announced presale, leading to mammoth losses for users who invested their funds in the airdrop.