98% of Solana Pump Tokens are Rug Pulls: A Closer Look at the Shady Side of Memecoins

A new report from blockchain risk monitoring firm Solidus Labs has uncovered a shocking reality within Solana’s memecoin ecosystem. Over 7 million tokens launched on the platform since early 2024 have been flagged as potential rug pulls, with an astounding 98.6% of them exhibiting signs of manipulation or deceptive practices. This means most of these tokens are vanishing without any real investor capital behind them. The report reveals that only about 97,000 of these tokens held over $1,000 in liquidity, suggesting a lack of actual investment backing many of the projects.