From my research I found out that Solana is referred to as high-speed blockchain network, but recently, from my experience it has been for entirely different reason, the network has being at the heart of an unprecedented meme coin frenzy.
Several meme coin projects I bought on Solana has rugged me my hard earn money and a lot of projects are succumbing to rug investors and crypto lovers.
The solana blockchain has a lot of supporters hence why every project released on it seems to have “potential” even if in reality they really do not have. It’s a matter of credibility and confidence that these investors have.
Solana has been releasing memecoins left and right and people who can not identify red flags will surely miss them and be blinded by its name. Even though the blockchain it was launched on to has had successful projects not all of them would be.