Solana is a real layer-one network. Its native token, SOL, pays fees, secures staking, and sits under a busy stack of payments, decentralised finance (DeFi), and apps. That is not the same as “every ticker on Solana is a sound investment”. The same traits that help genuine products — tiny fees, fast settlement, and simple SPL token creation — also let anyone spin up a meme coin before lunch.
Launchpads such as Pump.fun turned that into a conveyor belt. Industry research summarised in 2025 by Solidus Labs looked at millions of Pump.fun tokens and argued that the overwhelming majority lost meaningful liquidity soon after launch; Raydium pools showed a similarly grim pattern of soft rugs. Those figures are contested by the platforms, and methodologies differ, but the practical lesson for a retail wallet is blunt: cheap issuance means most new names are exit liquidity, not businesses.
Useful checks stay boring. Who minted the token, how concentrated the supply is, whether liquidity can be yanked, and whether you can explain the product without a cartoon frog. Treat a one-day chart as entertainment. For how those exits work mechanically, see rug pulls and Pump.fun on Solana.
If a Solana memecoin already emptied a balance, start at Get help. Anyone selling a guaranteed clawback for an upfront fee: Fake recovery.
This article is for general information only. It is not legal or financial advice. Details change. If you have lost money, contact your bank or card issuer and use the routes on the help pages.