Over the past weekend, the cryptocurrency market witnessed a frenzy of activity as memecoin mania took center stage. Following the meteoric rise of Darkfarms’ Book of Meme ($BOME) token, which soared to a staggering $1.46 billion market cap within just two days of its March 14 presale, numerous artists and projects embarked on their own Solana memecoin presales, raising millions in the process.

Amidst this fervor, pseudonymous artist Kero garnered attention by raising over $10 million for his SNAP ($NAP) memecoin in under 24 hours. Despite having a smaller following than Darkfarms, Kero’s success ignited further enthusiasm within the community, exemplifying the allure of memecoin presales.

Following Kero’s lead, other artists like Satoshi’s Mom swiftly launched their own presales, with impressive results. The floodgates opened wider as artist Dekadente raised a staggering $30 million for the $SMOLE memecoin launch, slated for Monday night, alongside Trippy Labs’ $SHROOM token, which raised $3.8 million in a capped presale.

However, amidst the frenzy, technical issues plagued several memecoin launches, with mishaps like $SLERF’s liquidity pool mishap and Pokeee’s refund debacle underscoring the risks inherent in such ventures. Nevertheless, the presale fever persists, with notable launches like Redlion’s $RED presale and Shakkablood’s $SMLE presale adding to the excitement, reminiscent of previous fundraising spectacles in the crypto space.