Sanae Token, a Solana-based token, has fallen nearly 75% from its peak after Japanese Prime Minister Sanae Takaichi denied involvement with it.
Another politician under Memecoin Fenzy
Japanese Prime Minister Sanae Takaichi clarified in a message posted on social network X on March 2 that he had nothing to do with the so-called “Sanae Token” and cautioned the public against accepting any official endorsement because the coin uses his name or image: “I have absolutely no knowledge of this token, and my office has not been informed about it.” warns that it wants to make sure not to mislead the public, despite Sanae Token’s website posting a clear disclaimer that it is “not affiliated with or endorsed by Ms. Takaichi.”
A virtual currency called SANAE TOKEN has been issued and certain transactions are being carried out.
— 高市早苗 (@takaichi_sanae) March 2, 2026
Japanese publications report that after Sana’s statement about X, Sanae Token dropped more than 50% in four hours, while Wu Blockchain shows a drop of about $6 million.
According to GMGN, the Solana-based meme token SANAE TOKEN briefly reached a market cap of $27.72 million before falling to around $6 million. The top three addresses account for nearly 60% of the token supply, and many of the top addresses are showing token influx activity. Sana Takaichi stated…
– Wu Blockchain (@WuBlockchain) March 3, 2026
More recently, another political leader, Argentine President Javier Miley, was accused of being part of a fraud scheme after his approval of LIBRA, which clashed with another Solana sign.
Token Sanae in the context of Solana Memecoin
Solana Token was announced on February 25 by Japanese entrepreneur Yuji Mizoguchi via NoBorder, a Youtube channel that focuses on political content. The project was launched at the height of Solana’s memecoin craze with the goal of stimulating NoBorder’s “Japan Back” project, which aims to “renew democracy” with AI and Web3.
Like many of Solana’s storied coins, it sought to create publicity around Japan’s new prime minister and broader “political business” notes. The name of the project is derived from Takaichi’s motto, inherited from former Prime Minister Shinzo Abe. NoBorder’s claim that the name “Sanae” is a symbol of a democratically elected leader rather than any official government endorsement.
Access for merchants
For traders, this means something bigger than a funny memecoin scandal. According to Bitcoinist and our sister site, Solana, memecoins routinely bounce 70-90% within hours, and many famous or legendary plays bleed 94-99% from their peaks after the first division drops. In a market with a 10-fold run and then a total return, the only real advantage is to treat these positions as short-term, high-risk trades: small size relative to your stack, planning exits on the way up, and never assuming that an interesting story or a famous name will be there to reach the fall.
SOL's price trends to the downside on the daily chart. Source: SOLUSDT on Tradingview
Cover image from ChatGPT, SOLUSDT chart from Tradingview
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