Socials.fun on launch day. Platform looks like pump.fun and wants to work like pump.fun, but has been suffering from hickups and technical difficulties.
TL;DR: Degens can now turn tweets into memecoins with socials.fun, but its rocky launch left many bags frozen. While the ELON token hype is dead, Solana’s memecoin frenzy keeps fueling degen dreams.
History doesn’t repeat, but it sure rhymes. Back in 2020, the platform Valuables let users turn tweets into NFTs, culminating in Jack Dorsey’s first tweet selling for $2.5M. Fast forward to 2024: NFTs are out, and memecoins are in. Enter pump.fun and socials.fun, platforms fueling the memecoin frenzy on Solana. The latest twist? Turning tweets into tradable memecoins.
A Rough Start for Socials.fun and ELON Token
On launch day, degens rushed to mint the first token based on Elon Musk’s Twitter account, pumping through the bonding curve at lightning speed. But there was a major snag—no liquidity pool was created, and the ELON token wasn’t tradeable. Bags were left frozen, and degens got rugged by technical glitches.
After a few days, the project fixed the issues, but the initial hype had fizzled. The ELON token now sits at a measly $31K market cap with zero volume—more of a meme than a moonshot.
Deja-Vu or New Degen Era?
The parallels between socials.fun and 2020’s tweet-to-NFT craze are hard to ignore. Degens are once again chasing the dream of monetizing internet culture, this time through tokenized tweets. But whether socials.fun can replicate the success of pump.fun or fizzle out remains to be seen.
For now, degens remain undeterred, ready to hit that pump button again—because in crypto, history doesn’t just rhyme; it pumps, dumps, and repeats.