$elijah on solana

SUPPLY: 1 BLN | BURNED: ~37% | HOLDERS: ~800 | ATH $3.64M

DS | BLX | PHO | GMGN | EXP 

ANNOUNCE

At the end of May, Elijah announced the release of a Solana version of his coin, aiming not only to attract a new audience from the Solana community but also to support the Base coin. Elijah emphasizes that the release of the Solana version is NOT a token migration but the creation of an alternative Solana version, which will exist and develop in parallel. He devised the following airdrop algorithm:

• To receive the Elijah Solana airdrop, users needed to burn as many Base coins as they wanted to receive on Solana. For example, if a user burned 1 billion tokens on Base, they would receive an airdrop of 1 billion tokens on Solana.

This mechanism allowed OG token holders to profit and attracted new buyers, thereby improving the health of the Base token by making it even more deflationary.

Currently, the Solana version has not been launched, as Elijah's developer resigned, seemingly unable to endure the embarrassment caused by the numerous errors in the NFT collection contract.

Despite this setback, Elijah guarantees the release of the Solana version as soon as he finds a new developer.

One of the main and most valuable results of the coin's launch was the significant increase in Elijah's popularity. Within a few days, the number of Twitter followers increased tenfold.

LAUNCH

On June 27, 2024, Elijah finally launched his token on Solana. Despite the launch being relatively smooth, there were some issues that may have negatively impacted the token's growth.

An airdrop was announced for those who burned Elijah's token on Base. In this case, you would receive an equivalent airdrop on Solana. Those who burned the token were placed on a whitelist, allowing them to later add their Solana wallet and receive the airdrop. Realizing that Elijah did not have the funds to add to the liquidity pool, he published a poll on his Twitter about conducting a presale. With a slight majority, the community chose to open the presale, and Elijah published a wallet for collecting funds, with a hard-cap of 333 Solana. However, within just 3 minutes, he deleted the post, fearing the rapid influx of funds. In those 3 minutes, he collected 560 Solana. Subsequently, he refunded the excess funds that surpassed the 333 Solana limit.

The token supply was 1 billion tokens.

• 52% of them were distributed to those who burned Elijah on Base and those who participated in the presale.

• 10% of the tokens were added to the liquidity pool, and the rest, including the LP tokens, were burned.

The positive trend didn't last long. Despite the token reaching 5th place in Solana's top coins on DEXscreener, within a few hours, the market cap dropped nearly sixfold, reaching a peak value of 1.5 million.

CONSEQUENES

Despite Elijah having the best intentions and executing everything correctly (the token launch on Solana was nearly flawless technically), the consequences for both tokens were catastrophic:

1. The negative trend for Solana tokens did not reverse positively, and the market cap dropped to 160k.

2. The token on Base hit its all-time low.

Despite this, Elijah remains optimistic. He believes that a sacred cleansing has occurred, that he has hit rock bottom, and is ready to bounce back strongly. Remarkably, Elijah is not deterred by failures. It seems that through his long history, he has witnessed both falls and oblivion, finding positive aspects in the current situation:

• Elijah's community has nearly doubled in size! Many new devoted followers have joined.

• 42% of the tokens on Base are now in the dead wallet.