Following the Pentagon’s directive to release the alleged files about UFOs and UAPs, Solana-based UFO tokens are rallying. Several tokens have posted double-digit gains, reinforcing the smart contract platform’s reputation of being the home of trending tokens.
Solana UFO coins post double-digit gains
On Friday, U.S. President Donald Trump ordered the Secretary of War to push out the so-called alien files. A tranche of the files has been uploaded to the website WAR.GOV/UFO, with more releases scheduled to be uploaded in the coming weeks.
Meanwhile, the crypto market reacted in a rather predictable way. Memecoins associated with UFO and UAPs started to trend, with those based in the Solana ecosystem posting strong gains.
For example, Solana UFO coins such as UFOPEPE surged by about 45 percent, while other tokens like UFO Price and UFO Gaming posted gains of more than 30 and 7 percent, respectively.
Bucking the trend, the so-called original UFO Token actually slumped, losing almost 11 percent of its value. The following chart shows the perils of narrative-based pumps, which can fizzle out just as quickly as they can surge.
Is memecoin season making a return?
The unexpected surge of Solana UFO coins begs the question of whether the memecoin season is back. To find the answer, it’s important to see the relevant metrics.
The rally observed today among UFO-linked tokens should not be interpreted as a sign that a narrative-based market is making a comeback.
Rather, it is the time to be cautious, since recent analysis found that bots are responsible for activity in between 60 and 80 percent of trading volume on Solana memecoin venues like Pump.fun.
However, this should also not eliminate the possibility of a short-lived memecoin frenzy. If more UAP files are released, expect an increasing number of Solana UFO coins to perform well in the coming weeks.