Snowball Solana shocks the meme market: from $11 million down to $810,000 in a few days

StakeWhisperer · 2026-01-13T08:52:19+00:00

On December 23, the meme coin Snowball on the Solana blockchain reached a market cap of $11 million but has since plummeted to around $810,000. Snowball's unique market-making mechanism has generated mixed reactions, with some investors optimistic about its sustainability, while experts warn of inherent risks and volatility in meme coins. Snowball's case illustrates the challenges faced in the meme coin market, where innovative ideas attract rapid attention but rely heavily on market psychology.

StakeWhisperer

2026-01-13 08:52:19

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On December 23rd, the meme coin Snowball on the Solana blockchain reached a significant milestone when its market capitalization hit $11 million. However, this value has since sharply declined to approximately $810,000, with the current trading price at $0.008—a substantial drop in just a few days.

Unique Mechanism That Sets Snowball Apart from Other Meme Coins

What makes Snowball stand out among the sea of meme coins is its market-making mechanism. It is the first Solana meme coin to allocate 100% of the creator fees from Pump.fun to continuously support market-making efforts. When it was launched four days ago, this mechanism generated great anticipation within the community, with many investors believing it could be a way to address the helplessness of traditional meme coins.

Market Reactions and Expert Warnings

On X platform, Snowball has become a hot topic of discussion. Some investors remain optimistic, believing that this sustainable market-making mechanism could create continuous buying pressure, preventing the typical price drops seen in meme coins.

However, on the other side of the debate, warning voices have pointed out unstable factors: from psychological buying and selling motivations driven by FOMO (fear of missing out) to potential vulnerabilities in the developer’s wallet design. Experts like Chainthink have also cautioned about the inherent volatility of meme coins in general, along with the lack of real intrinsic value.

The case of Snowball reflects the current landscape of the meme coin market—where innovative ideas can quickly attract attention, but their sustainability largely depends on market psychology and underlying economic mechanisms.

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