People compare the Solana meme tokens trend with the Ethereum token ICOs era of 2017 

Many people claim that Solana blockchain adoption will surge rapidly in 2024, just like Ethereum blockchain adoption in the 2017 ICOs era. 

As we know, In 2017, many new crypto projects raised money by selling digital tokens on Ethereum (ERC20 tokens). People bought these tokens with Ethereum (ETH) coins. Some projects were legit, but there were also scams. It was a time of both excitement and caution in the cryptocurrency world. Because of the ICO craze, increased media attention, and a significant influx of retail investors, the Bitcoin trade price surged 20 fold but after that, the United States Securities and Exchange Commission (SEC) started to take action against ICO projects and called unregistered securities offerings. 

As we already reported people are launching new meme tokens on the Solana network daily and a few of them are gaining huge popularity.

As per the investigation report, the top 27 meme crypto token projects on the Solana network raised a total of >655,000 SOL ($122.5M), between 12 March to 19 March.

All the facts & data show that Solana successfully secured a top place in the crypto market for token developers, just like Ethereum in 2017. 

Some crypto enthusiasts noted that it is now very easy for people to raise high amounts of funds for meme crypto projects, more than what other top flagship crypto projects raised in the past.

Sol price action

The current trade price of the Solana (Sol) coin is $173 & this trade price is 16% down over the last 24 hours, as a part of the usual market downfall.

Read also: Scammers are actively conducting fraud using the “Solana meme token trend”