According to @KookCapitalLLC, Solana meme coins, referred to as 'trenchers,' are showing trading patterns similar to the 2022 cartoon-themed NFT projects, which saw a decline in active participants and a rise in exit activity and scams as the cycle matured (Source: Twitter). This comparison suggests traders should monitor for diminishing liquidity and increasing risk signals within Solana meme coin markets, as historical NFT trends indicate potential weakening of community engagement and heightened volatility. Staying alert for these red flags is crucial for risk management in current Solana-based meme coin trading.

According to ZachXBT, a threat actor has stolen approximately $500,000 over the past month by compromising more than 15 X accounts, including those of Kick, Cursor, Alex Blania, and The Arena. The attacker used targeted phishing emails that impersonated the X team to steal credentials and subsequently launch meme coin scams.