• 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 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.