As a seasoned analyst with over two decades of experience in the crypto market, I’ve seen many projects come and go. The news of Pacmoon ($PAC) leaving Ethereum’s Layer-2 blockchain for Solana caught my attention, mainly because it’s not every day we see a memecoin making such a bold move.
In simple terms, the popular meme cryptocurrency, Pacmoon ($PAC), has decided to shift from Ethereum‘s Layer-2 blockchain to the Solana network, as stated by the team today on platform X. This transition will also include a rebranding of the coin, with it being known as $ARMY in its new home.
As a researcher involved with the Pacmoon project, I’ve noticed some challenges we’ve faced when working with Blast. Specifically, their lack of support for native tokens and seemingly minimal focus on building a strong community have posed significant hurdles in our development process. To put it simply, collaborating with Blast has often felt like climbing a steep hill because the network doesn’t seem to prioritize community and cultural aspects as much as we would like.
During the transition process, those holding $PAC tokens are advised to destroy them by August 14th. In compensation, the team will distribute $ARMY tokens according to the amount of $PAC tokens burned. The Pacmoon platform has a timer showing that the migration will take place on August 14th.
As a member of our research team, I share Bobby Big Yield’s optimism about Solana’s future. It seems evident to us that Solana is poised to remain the leading platform for memecoins during this cycle. We firmly believe that Solana’s increasing appeal among both new and experienced crypto traders will positively impact our rebranded $ARMY project.
The planned rebrand aims to make Pacmoon more noticeable amidst the competitive landscape of memecoins on the Solana platform. Solja Boy, another team member, expressed his thoughts by saying, “This rebrand will empower us to execute unique strategies that other projects can’t, and it also raises the potential for our project to reach unprecedented levels of success.”
In the past day, I’ve witnessed a staggering 118.8% increase in the value of my $PAC tokens, pushing them up to $0.048. As of now, the market capitalization stands at approximately $22.3 million. However, just a few months ago in June, the token’s market cap soared over $104 million, as per CoinMarketCap.
As a seasoned cryptocurrency investor with years of experience under my belt, I must admit that I’ve been quite impressed by the meteoric rise of memecoins on the Solana blockchain this year. With a staggering total market cap of $6.47 billion and a whopping $2.94 billion in trading volume within the past day, as per CoinGecko data, it’s clear that these digital assets have captured the attention of many in the crypto space. As someone who has witnessed the rise and fall of numerous cryptocurrencies over the years, I am always on the lookout for promising projects, and the success of memecoins on Solana certainly piques my interest. While it’s important to approach any investment with caution and do thorough research, the sheer volume of activity around these assets suggests that there may be something genuinely unique and valuable at play here. Only time will tell if these memecoins can maintain their momentum and become a permanent fixture in the crypto landscape.
Pacmoon’s transition from Blast to Solana underscores significant discontent over Blast’s insufficient support and lack of emphasis on community. This change might boost Pacmoon’s influence within Solana’s thriving community.
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2024-08-08 07:48