Meme Coin Investors Stunned

In recent months, meme coin investors have been shocked by the substantial price drops in the Celebrity Solana meme coin market.

Crypto analyst Slorg tweeted that half of 30 celebrity meme coins launched in June were 99% down. Seven others were at least 90% down, while all the best performers were at least 70% down.

Hefty losses should serve as a warning sign for crypto investors. Even if significant celebrities back them, investing in utility-lacking meme coins is risky; nearly all newly launched meme coins are pump-and-dump schemes. That still appears to be the case even if celebrities back those coins.

Celebrity Influence and Investor Trust

Slorg noted that only 40% of the celebrities who issued coins in June had tweeted about them in the last week.

Most of these Celebrity meme coins were unloaded onto an unsuspecting public for quick financial gain, a trend of which foremost crypto leaders like Vitalik Buterin have been critical.

"Nearly all newly launched meme coins are pump-and-dump schemes."

What's a Better Alternative?

As Celebrity meme coins demonstrate the characteristics of being pump-and-dump schemes, investors might wonder what high-risk/high-reward investment alternative options they have. Investing in crypto presales is an often overlooked investment strategy that can deliver massive exponential gains to investors.

The Potential of Presale Investments

Web3 projects building something useful, such as a P2E game, GambleFi, or DePIN platform, often raise funds in their early stages by conducting presales or ICOs.

Presale investing carries risks similar to start-up investing. Investors need to have faith that the team behind a project will deliver on its promises, but presales have substantial potential upside.

That's because web3 start-ups typically sell their native token at a significant discount to its potential valuation. Analysts at Cryptonews.com monitor the presale market closely.