Solana Ecosystem and SOL Price Experience a Spring Decline in April 2024

April 2024 proved to be an eventful period for meme coins associated with Solana. While certain ventures experienced an unprecedented surge in value, others withered away, prompting investors to ponder the genuine prospects of the meme coin frenzy. On April 29, an unusual scam unfolded on the Solana blockchain, featuring a meme coin named Bonk Killer (BONKKILLER), which momentarily attained the status of having the highest market capitalization globally, reaching a staggering $328 trillion. This seemingly absurd amount was, in fact, a product of a deceitful scheme engineered to pilfer funds from unsuspecting investors.