The Solana-based meme coin Snowball has captured market attention, reaching a market cap of over $11 million on December 23. Currently, its market cap stands at $810,000, with a trading price of approximately $0.008. Snowball distinguishes itself as the first Solana meme coin to allocate 100% of Pump.fun creator fees to its market-making efforts. Since its listing four days ago, Snowball has sparked significant discussion on social media platform X. While some investors are optimistic about its unique mechanism potentially generating sustained buying pressure, others caution against the risks of FOMO-driven hype and potential vulnerabilities in developer wallets. Chainthink has issued a warning about the inherent volatility and lack of intrinsic value in meme coins.
Solana Meme Coin Snowball Peaks at $11M Market Cap, Now at $810K
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