Goblintown, the creator behind the Ethereum-based NFT collection Goblintown, has launched a new meme coin called $GOB on the Solana blockchain. The token quickly gained traction, reaching a market capitalization peak of approximately $40 million before settling around $18 million. Goblintown NFTs holders are eligible to claim $800 worth of $GOB tokens, distributed weekly at a rate of 1% per week, with the circulating market cap initially at $1.8 million following a 10% unlock at launch. Meanwhile, another Solana-based meme coin, $ALT, experienced extreme volatility after its launch on July 8. It surged by 1,000% within five days, reaching a market cap of $177 million, but then plummeted 95% overnight to about $8.43 million. The $ALT crash followed reports of developer and insider sell-offs and was notably promoted by influencer @cryptobeastreal. This contrasting performance highlights the rapid and unpredictable nature of meme coin markets on Solana.