The Solana ecosystem has been quite lively recently. On one side, Meme coins like GIGA Chad have surpassed a market cap of $800 million, with many retail investors making huge profits from just a few thousand dollars. On the other side, the LIBRA token endorsed by the Argentine president plummeted 85% within hours, and the project team directly ran off with $90 million. Is the rapid rise of new tokens after launch an opportunity or a trap?

Some see it as a wealth opportunity for ordinary people. The low transaction fees and high throughput of the Solana chain make it a breeding ground for Meme coins. In Q1 2025, on-chain Meme coin trading volume accounted for as much as 68%, and this number says it all. Tokens like EGL1 can surge by 1800% through viral spread and community consensus. Small investors with low thresholds can enter the market, and by catching the narrative trend, they can share the pie. Now even Grayscale has launched related trust products, and many Meme coins are beginning to integrate with charity, NFTs, and gaming scenarios, gradually moving toward regulation.

But another group of people is exposing this bubble. Frankly, most Meme coins have no real value; their prices are entirely driven by market sentiment. Project teams can easily "pull the rug," and LABUBU is a vivid example—its market cap sharply dropped from $210 million to less than $40 million, just because early addresses dumped heavily. Uninspected contracts and highly concentrated coin holdings are common risks. The US SEC has even listed Meme coins as potential investment traps. The cycle from takeoff to zeroing out has shortened to just a few weeks, and retail investors chasing high prices often end up as the last bagholders.