The Meme coin market on the Solana chain has indeed been booming these days.

On January 12th, a project called Sol The Trophy Tomato launched on Pump live, with its market cap soaring to a high of $15 million. Although it has since pulled back, it still remains at $10.17 million, with the coin price around $0.0121. Just looking at the 24-hour increase, it reached 40%, a level that’s almost unimaginable in traditional markets.

Not just this one. Recently launched Meme coins on the Solana chain are all on the rise. RALPH surged 123% in 24 hours, now with a market cap of $7.85 million and a coin price of $0.0079. The project 114514 also increased by 120%, with a market cap of $5.72 million and a coin price of $0.0057. Even more aggressive is WhaleGuru, which skyrocketed over 1000 times on its first day. Although the current price has fallen back to $0.0057, with a market cap of $5.7 million, such a surge is truly shocking. Then there’s Buttcoin, which gained 350% in 24 hours, with a market cap of $5.3 million.

Seeing these figures, it’s easy to think of those stories of overnight riches in the crypto world. But if you think calmly, Meme coins are essentially products of emotional trading, with prices entirely driven by market participants’ enthusiasm. These tokens almost lack practical use cases or intrinsic value support; they can surge wildly when rising and fall just as fiercely when dropping.

These Meme coins on the Solana chain are currently in the spotlight, but who can guarantee what the market will look like the day after tomorrow? Once market sentiment shifts and funds start flowing out, prices could plummet vertically. Such cases have played out many times in the crypto space, with many investors suffering heavy losses each time.

For participants, the most important thing when facing this craze is to stay sober. If you have a good risk tolerance and want to try your luck in this field, make sure to do thorough research and don’t put all your funds in. But if you’re more conservative, there’s really no need to get involved in projects with heavy speculation components.

The crypto market changes rapidly, with new opportunities and traps emerging every day. Rational judgment and moderate participation are the keys to surviving longer in this market.