Solana is leading the new token movement, having surpassed Ethereum as a lulluby for new memecoins. More than 1 million new tokens have been created since the start of April, with over 370,000 new tokens cropping up on Ethereum while over 640,000 new tokens — mostly memecoins — were launched on Solana.  As Cointelegraph states, of the total 643,000 new tokens launched on Solana, 466,914 were memecoins. Some experts are calling this madness “net negative” because of the proliferation of scams and rug pulls. That is real money that could have gone into bigger “legit” projects, they say. “Instead, it’s now in the hands of the scammer, who will cash it into fiat.” Earlier a Cointelegraph investigation revealed that one in six new Base memecoins were scams, and more than 90% of them had vulnerabilities.

Former professional kickboxer turned social media provocateur Andrew Tate published a new video on Twitter. He claims that he has cashed out $500,000 in Bitcoin to invest in GameStop and meme coins to spite hedge funds. And obviously, to continue his holy war against crypto capitalists. “There’s a hedge fund manager who, when he wakes up tomorrow morning—if GameStop opens at the current price—he’s gonna lose $13 billion dollars,” Tate said in the video. According to Decrypt, Tate’s Reddit-inspired hypothesis is similar to the 2021 theory surrounding the same stock. With the return of Roaring Kitty—the internet figure who spearheaded the movement—it seems meme stock mania is in full swing. Financial analyst turned stock and meme influencer Roaring Kitty has roared back onto social media a few days ago. His apparent return to Twitter on Sunday didn’t even directly mention GameStop—the stock whose rollercoaster ride sparked global headlines and a documentary film—but nonetheless prompted the price of GME to double briefly. It also led to a colossal 1,900% surge in a Solana-based tribute coin also named GME. Tate is clearly on to take advantage of this peculiar situation. “I’m cashing half a million dollars of Bitcoin right now and I’m going all-in, maximum leverage, all-in on all these stocks,” Tate claimed. “I’m taking Wall Street down, watch me,” he continued. A well known provocateur, Tate claims he doesn’t care if he loses it all. All for the sake of the downfall of the unnamed hedge fund manager. «I lost a lot of money attacking The Matrix during Gamestop. Always been part of the resistance», Tate concludes.