How Slerf conquered the crypto industry

The recent buzz surrounding a Solana-based memecoin called Slerf has caught the attention of many, but the tale of Slerf’s emergence is rather Slerf-y! Slerf, characterized by its sloth-themed concept, is yet another addition to the landscape of meme coins on the Solana blockchain, having a strong community excitedly waiting for it to skyrocket in value.

The project encountered a significant setback during its scheduled airdrop at 09:00 (UTC) when the project’s developer inadvertently burned a substantial portion of the token supply, resulting in the loss of approximately $10 million – effectively wiping out the funds of presale participants.

 

What exactly is Slerf?

Slerf is another meme coin on the Solana blockchain, featuring a sloth theme and backed by a dedicated community eagerly awaiting its rise to the moon. The presale was supposed to kick off, and participants were eagerly anticipating their airdrop. However, a tweet from Slerf’s official handle announced the accidental burning of their tokens, sparking anger among followers.

 

What’s the plan now?

Since the mistake, the community has made it their mission to propel the sloth-themed token to the moon, where it can join other Solana memes. The next step involves aiming for a $1 billion market cap, as this is seen as the best way to rectify the situation. Optimism is crucial in the world of meme coins – it’s the essential ingredient needed for success.

Slerf’s trading volume has been steadily increasing since its launch, reaching $1.5+ billion in market volume. This surge has garnered attention from major decentralized exchanges, prompting them to list Slerf for their users.

In just one hour of trading, Slerf’s price dropped sharply from $1.10 to $0.40, showing how risky it can be to trade meme coins, highlighting the inherent volatility associated with trading meme coins, necessitating a cautious approach. This cautionary example warns users who, caught up in the excitement, rushed to invest and ended up losing a lot of money.

Presently, Slerf tokens are available for trading on major centralized exchanges such as Gate.io, HTX, Bitget, Bybit, and MEXC, or through the native Solana DEX Raydium. The current trading price of Slerf stands at $0.55, with a market capitalization of $280 million.