Millions flow into Solana memecoin presales within 72 hours, raising scam concerns.

Founders of Solana's SOL have made millions through token presales in the last 72 hours, and traders have bought about $100 million worth of new Solana memecoins. Because these presales don't guarantee token delivery, there is a risk of scams. Tokens like Book of Meme (BOME) increased by more than 36,000% to a $1.45 billion market capitalization in spite of skeptics. Due to their exceptional profits, early investors came under fire from financial professionals such as Anthony Sassano for making riskier investments. It is advisable to exercise caution as the memecoin mania continues because of doubts regarding its legality and longevity. Investors should study the industry carefully and weigh the dangers involved in the extremely erratic cryptocurrency market.