In the wild world of meme coins, where hype can make or break a project, renowned crypto sleuth ZachXBT just dropped a bombshell on a Solana-based token called Memenetic. If you're new to this, meme coins are cryptocurrencies inspired by internet memes, often launched with viral marketing but carrying high risks like rug pulls—where creators dump tokens and vanish with the funds.

ZachXBT, known for his investigative threads exposing scams in the crypto space, took to X (formerly Twitter) to highlight how Memenetic's 48-hour presale turned into a spectacular flop. Despite over 150 promotional posts from what he calls "d-tier influencers" (think low-level promoters with questionable followings), the project only managed to raise a measly 65 SOL—equivalent to about $13,000 at current prices.

The presale, promoted as an AI-powered meme generation platform with 70% of supply locked for five years and no VC involvement, promised participants a share of tokens based on their SOL contributions. But as ZachXBT pointed out, the heavy reliance on botted likes and followers—fake engagements bought to inflate popularity—didn't translate to real investor interest.

He shared a video and screenshots showcasing the barrage of identical shill posts, many lacking disclosures that they were paid promotions. This lack of transparency is a red flag in crypto, where regulations like the FTC's endorsement guidelines require influencers to reveal sponsorships.

To help clean up timelines, ZachXBT even created a block list of these accounts: check it out here. His thread, which you can read in full on X, serves as a stark reminder of the dangers in meme token launches. Projects like this often prey on FOMO (fear of missing out), but without genuine community support, they crash and burn.

For blockchain enthusiasts diving into Solana's meme ecosystem, this episode underscores the importance of due diligence. Always verify wallet addresses on explorers like Solscan, check for audited smart contracts, and be wary of overhyped presales. Memenetic claimed utility through meme creation and sharing, but the execution screams caution.

Stay vigilant out there—meme coins can be fun, but they're not for the faint-hearted. If you're looking for more insights on legit projects or scam avoidance, stick around at Meme Insider for the latest updates.