Nothing hinders the growth of Slerf (SLERF) Memecoin, not even the loss of $10 million earned by the project during the pre-sale. The broader crypto market has been falling in recent days. However, “memecoins” continue to shine, such as the SLERF token. The daily trading volume of the new Solana-based asset broke the $3 billion mark, surpassing all sector leaders.
SLERF Market Indicators
The market indicators according to coinmarketcap, at the time of writing for SLERF indicates that it ranks tenth in the ranking of the largest memecoins by capitalization. The new project figure currently stands at $423 million. SLERF, meanwhile, is trading at $0.8654. The maximum value over the last 24 hours was $1.30, which became the absolute maximum (ATH). The minimum is $0.3693, which is where the token debuted.
The daily trading volume of the SLERF memecoin now exceeds $2.8 billion. For comparison, Dogecoin (DOGE) is $2.4 billion, and Shiba Inu (SHIB) is $1.7 billion. The latter assets occupy the first and second positions in the top capitalization, respectively.
Now the token can already be traded on such large exchanges as Gate.io, HTX, MEXC, and Bitget. However, the crypto community is extremely skeptical of the project.
Some call the SLERF team scammers
Yesterday it turned out that the developer of SLERF accidentally burned all the tokens received during the pre-sale. The total amount was 50 thousand SOL, or $10 million. In fact, it was with this event that the SLERF token attracted so much attention. Therefore, many participants in the crypto community began to assume that such a step on the part of the “unsuccessful” developer could be either a targeted action or part of a fraudulent scheme.
Thus, Gary Henderson, one of the developers of the Solana community, pointed to the wallet of the creator of the token. Before burning liquidity tokens and airdrop coins, he withdrew 1,050 SOL – perhaps the founder of the project knew what would soon happen. The creator of the Wildcat project, Lawrence Day, also believes that the burning of tokens was probably intentional.
SLERF founder refunded his 1,050 SOL before burning your tokens
PSYOP pic.twitter.com/gFarEmTqjl
— Gary (@GaryLHenderson) March 18, 2024
Thus, the developer, in his opinion, tried to raise hype around the memecoin. “In all seriousness, the burning of the SLERF LP was almost certainly intentional to create a buzz. Shortly thereafter, someone bought SLERF tokens for $1.9 million (and sold them for $5 million),” he wrote.
Community Rebuilding Efforts Amidst Setback
After the incident, the team noted that it was doing everything possible to return lost funds to users. At the same time, the developer who burned them previously stated that it would no longer be possible to do this. Meanwhile, several trading platforms offered their help. Thus, the founder of Tron (TRX) Justin Sun promised that he would transfer to the memecoin project team all the profits from trading SLERF tokens on HTX (formerly Huobi).
