The world of meme coins is notoriously unpredictable, and the DORAE token on the Solana blockchain perfectly encapsulates this wild ride. Inspired by the universally beloved Japanese manga character Doraemon, DORAE (Token Symbol: DORAE, Address: F6s6hxSW6yWF4h5YBbW28JHLFEGXKYbEmungaTPtpump) emerged with a bang, only to experience an equally dramatic fall. This report dives into its history, controversies, and current standing.

What is DORAE?

At its core, DORAE is a meme coin launched on the Solana network, leveraging the nostalgic appeal of Doraemon. It's important to distinguish it from other tokens with similar names, like "Doraemon Token" or "Dora Factory" (DORA) on the Binance Smart Chain (BSC), as DORAE is uniquely tied to its Solana contract address.

Here’s a quick overview of the token’s key details:

• Token Symbol: DORAE
• Token Name: Doraemon
• Blockchain: Solana
• Token Address: F6s6hxSW6yWF4h5YBbW28JHLFEGXKYbEmungaTPtpump
• Nature: Meme Coin
• Launch Date: June 25, 2024
• Total Supply: Approximately 999.71 million DORAE
• Circulating Supply: Varies, but often reported close to total supply. Note that some sources indicate no maximum supply, meaning new tokens could potentially be created.
• Primary Trading Platforms: Primarily found on decentralized exchanges (DEXs) like Raydium (DORAE/SOL pair).

The Meteoric Rise and Dramatic Fall

DORAE first appeared on Pump.fun, a popular platform for quick meme coin launches on Solana. Its debut was nothing short of spectacular. Within a mere nine hours of its launch on June 25, 2024, DORAE’s market capitalization exploded from $69,000 to an astonishing $2.37 billion. This represented an incredible 34,400x increase, quickly earning it the moniker "the first cat coin to a billion" across crypto social media platforms like X. This rapid ascent was fueled by intense hype within the buzzing Solana meme coin ecosystem.

However, the euphoria was short-lived. Just a day after its peak, on June 26, 2024, DORAE’s price plummeted by over 99%. This drastic crash was widely attributed to an alleged "rug pull" by the token’s developer. On-chain analysis by Lookonchain revealed that a wallet suspected of belonging to the developer sold 2.5 million DORAE tokens for 10,538 SOL, valued at approximately $1.45 million at the time. This massive sell-off triggered widespread accusations of market manipulation and labeled DORAE as "the greatest rug of all time" by many in the crypto community.

Market Performance at a Glance

DORAE's price history is a stark reminder of meme coin volatility:

• All-Time High (ATH)​: The token reached a peak of $0.0007531 on June 25, 2024, corresponding to its $2.37 billion market cap. Another reported ATH was $0.000460 on November 3, 2024.
• Post-Crash Low: Following the alleged rug pull, the price dipped to $0.00009431.
• Recent Prices (as of May-June 2025)​: Prices have fluctuated significantly, ranging from around $0.0001 to $0.0003, with one outlier report of $0.054044 (though with no reported trading volume).

Trading Volume and Liquidity:

• Peak Volume: During its initial surge, 24-hour trading volume soared to $770.45K on June 25–26, 2024.
• Recent Volume: As of May 2025, daily trading volume has significantly declined to minimal levels, sometimes reporting 0 USD, indicating very low market activity.
• Liquidity: The DORAE/SOL liquidity pool on Raydium was approximately $85K in May 2025.

Market Capitalization:

• Peak: $2.37 billion on June 25, 2024.
• Post-Crash: Market cap has drastically fallen, with reports ranging from $2.23K to $131.97K at various points in May 2025, reflecting its diminished activity. Its Fully Diluted Valuation (FDV) was $159.03K in May 2025.

Community and Current Status

After the initial dump, some community members expressed intentions to "take over" and revitalize the DORAE project. Mentions of a community-driven effort can be found on platforms like Telegram and X (formerly Twitter), where updates are shared. DEXScreener describes "Doraemoncoin" as a meme coin based on a beloved character.

However, as of June 2025, there is little verifiable evidence of a successful community-led revival. The token remains largely unverified on major platforms like CoinMarketCap and Phantom, which increases risk for potential investors. Phantom specifically advises users to only interact with trusted tokens. Claims of verification on lists like Jupiter Strict List or Birdeye from July 2024 haven't been consistently substantiated by recent data.

Navigating the Meme Coin Market with Tools like GMGN.AI

For those looking to engage with meme tokens like DORAE, platforms designed for detailed analysis and tracking can be invaluable. GMGN.AI is one such state-of-the-art platform that specializes in meme token analysis and trading across various blockchains, including Solana.

GMGN.AI offers features like:

• Real-time analytics: Stay updated with instant data and alerts for new tokens.
• Smart money tracking: Monitor the wallet activities of top investors to spot potential opportunities.
• Automated trading: Automate buy/sell actions and even replicate strategies from successful wallets (requiring a Telegram account link).
• Security checks: Identify common risks such as honeypots or high transaction taxes to facilitate safer trading decisions.
• Cross-chain compatibility: Trade seamlessly across multiple chains with minimal costs.

While GMGN.AI charges a flat 1% transaction fee without subscription services, it provides comprehensive tools for navigating the volatile meme token market. You can explore DORAE's dedicated page on GMGN.AI for detailed performance insights and trading options here.

Risks and Considerations for Investors

Investing in meme coins like DORAE comes with substantial risks, and potential investors should exercise extreme caution:

1. Extreme Volatility: DORAE's history of a massive pump followed by a rapid 99% crash within hours highlights its inherent price instability.
2. Rug Pull Risk: The alleged developer dump demonstrates a clear risk of market manipulation and the potential for founders to abandon the project while absconding with funds. This is a common issue in the meme coin space, with reports like Immunefi's indicating significant losses from hacks and rug pulls in the crypto space.
3. Unverified Status: The token's lack of verification on major crypto platforms increases the risk of scams or fraudulent activity.
4. No Security Audit: There is no readily available security audit specifically for the Solana DORAE token's smart contract. While general token security platforms like GoPlus might offer insights for other tokens (e.g., a BSC version), this information does not directly apply to the Solana DORAE token, leaving its contract integrity unchecked.
5. General Meme Coin Market Risks: The Solana meme coin sector is highly speculative and prone to rapid pumps and dumps, often lacking fundamental utility or long-term development.
6. Regulatory Scrutiny: The broader Solana ecosystem faces ongoing regulatory challenges, including allegations by the SEC that SOL and related tokens may be unregistered securities. Such scrutiny could indirectly impact meme coins operating within this ecosystem.

Conclusion

DORAE represents a classic tale from the meme coin world: an overnight sensation followed by a swift and brutal decline. While the community has expressed a desire for revival, the token's market activity remains minimal, and its unverified status, coupled with its history of an alleged rug pull, paints a cautious picture. For blockchain practitioners and investors, DORAE serves as a potent reminder of the high-risk, high-reward nature of meme tokens. Thorough due diligence, awareness of significant volatility, and understanding the potential for malicious activity are absolutely essential before considering any involvement with such assets.