An unprecedented number of new meme coins entered the cryptocurrency market in April, as reported by on-chain analysis platform Crypto Koryo. The month saw the introduction of 138 new meme coins, a stark contrast to the previous year's 18 new coins.

Reasons Behind the Surge

The surge in meme coin production is mainly driven by investors seeking quick, high-risk profits. Platforms like Solana (SOL) and Base blockchains are favored for creating these meme coins, reflecting the growing interest in this sector.