- Pain token is trading at $16.38 with a 17% surge from the starting price.
- Snipers are grabbing PAIN tokens amidst the presale hype.
Memecoins are losing their momentum amidst the delayed bullish rally in the broader crypto market. However, new token launches and presale have always recorded price surges with the initial hype. The same happened with the latest memecoin PAIN. It is created based on the popular internet meme of an old person and with a tagline of “No Pain No Gain.”
The PAIN token presale launched today with a starting price of around $13.7. Similar to all the other memecoins launched on the Solana blockchain, Solana snipers were ready to grab the token. As a result, the PAIN token price reached a peak of $25.48 within a few hours after the launch.
The Pain token presale is distributing 25,000,000 PAIN tokens and the presale is about to end in the next one hour. After reaching a peak of over $25, the token is now trading at $17.22 with 23% gains since the launch. While its market cap is standing above the $60 million mark, 24-hour trading volume recorded $94.74 million.
PAIN Token Price Starts Dropping, Another Pump and Dump?
While the PAIN token price increased in the initial few hours, it is now gradually dropping. As the presale comes to an end, early investors seem to be dumping the token as there is no real value behind it. Even though this is a similar case behind any memecoin, there seems to be no other reason behind Pain token to bring back its uptrend.
Meanwhile, on-chain analyst platforms are tracking traders who are investing in this brand new memecoin. As per Lookonchain, a new wallet was created to participate in Pain presale and received 215,328 PAIN tokens worth $3.85 million. This investor holds an unrealized profit of $2.3 million from this participation.
On the other hand, another sniper of Solana lost 2,540 Solana worth $436K on PAIN. He spent 15,000 Solana and purchased 107,212 PAIN and sold all of them, making a loss.
Amidst the average crypto market performance, several investors believe the memecoin frenzy is over. In the last few months, AI agent tokens showed their dominance over memecoins. Castle Island Ventures partner Nic Carter stated that the era of memecoins is “unquestionably over.” Thus, this seems to be not the right time for the launch of a new memecoin.
Highlighted Crypto News Today:
World Liberty Financial Purchase of $125K SEI Lead to 12% Price Surge
