Half of 30 Solana-based celebrity meme coins plummet 99% in value

Half of the 30 celebrity-themed Solana-based meme coins have reportedly lost more than 99% of their value.
On the 25th (local time), CryptoPotato announced the launch of Jupiter Slog.
Citing statistics from Slorg, the report said that last month, the value of 30 blockchain-based coins, such as Sola, fell by an average of 94% from their peak value.
Analysis reveals that half of all meme coins have lost more than 99% in value, with the best-performing tokens losing more than 70%.
The 30 most recently released celebrity-themed meme coins include Andrew Tate, Seoulja Boy,
These include figures such as Ethereum (the “Boy”). 22 out of the 30 meme coins have a market cap below $100.
Despite this huge loss, some tokens are still being sold as “A” thanks to the ongoing discussion on X (formerly Twitter).
The celebrity meme coin trend has been trending since 2013 with Caitlyn Jenner in the past five days.
It all started with Jenner's meme coin Jenner. Despite early skepticism, the token
achieved a market capitalization of $40 million in 24 hours. Then, rapper Iggy Azalea added MOTHER token to the Solana Blockchain.
The tokens were released and their value skyrocketed rapidly. Celebrities and online influencers such as rapper Lil Pump, Seoul Ja Boy, and Andrew Tate have been buying them.
Later, celebrities joined the meme coin boom. But according to many observers, a celebrity entering the cryptocurrency space is often seen as a signal of a market apex.
This is also evident in the recent decline in meme coin trading volume and the sudden drop in prices. According to on-chain data platform CryptoQuant, the meme coin market
The coin's dominance has declined significantly since mid-May, with further declines in June.