Meme Coin Bonanza: Insiders Cash In Billions on Solana

The hype surrounding meme coins has generated significant revenues for insiders and infrastructure players in the decentralized finance (DeFi) sector. According to 0xngmi, the co-founder of DeFi Llama, these revenues range from $3.6 billion to $6.6 billion, primarily earned on the Solana blockchain.

The distribution of these profits is as follows:

• Trading bots and dapps: $1.09 billion
• Pump.fun: $492 million
• Maximum Extractable Value (MEV): $1.5 billion - $2 billion
• TRUMP insiders: $0.5 billion - $1 billion
• Automated Market Makers (AMM) like Raydium, Meteora, and Orca: up to $2 billion

One of the main MEV bots for sandwich attacks on Solana earned approximately $500 million. The profit structure of trading bots includes:

• Phantom: $120 million
• Photon: $357 million
• BullX: $153 million
• Maestro: $27 million ($102 million across all networks)
• Moonshot: $27 million
• Mevx: $30 million
• Bonkbot: $168 million
• gmgn: $38 million
• Trojan: $166 million

0xngmi explained that market participants view meme coins as an "unstable casino" and aim to "cash in" before the market collapses. This short-term focus is driven by the belief that the current cycle may be the last, leading to increased competition for profits.

The expert also highlighted the risks associated with the meme coin hype. The LIBRA token, for instance, gained significant attention after being mentioned by Argentinian President Javier Milei but subsequently crashed by 94% within hours. This incident raised concerns about the potential negative consequences of