Solana Memecoins Update (March 2024)
The number of new memecoins created on Solana is on the uptrend while the total LP SOL burnt and the number of deployers has held steady. In March alone, 61.1m LP SOL was burnt, taking them out of circulation forever. This is bullish for SOL price action. However, it is quite alarming when only 2 Solana addresses are responsible for 92% of the ~300k tokens created in March.