Meme coin Slerf is making millionaires despite presale mishap

After launching with a botched presale, another Solana meme coin, Slerf, rallied over 1,500% today. 

The meme coin frenzy continues dictating the bull market, with new tokens attracting notable daily trading activities. Although leading meme coins like Dogecoin and Shiba Inu are seeing liquidations, the latest Solana-based meme coins are seeing massive inflow, driving prices higher within hours of launch. 

Last week, the Book of Meme (BOME) token made the headlines after rallying over 20,000% in four days. Several investors made five-figure profits with minimal investments. This week, another Solana meme coin, SLERF, is experiencing a similar trend. 

Lookonchain said Solana whales cashed in on Slerf when it opened trading earlier today. One whale invested $1.98 million in the token and made $3 million in profits within 12 minutes of trading. Another Solana whale, who never purchased tokens, invested $606,000 in Slerf. 

Read more: Binance launches investigation into BOME insider trading allegations

Given its popularity and demand, Slerf was immediately listed by several major exchanges, including HTX, formally Huobi, and Bitget. Bybit also posted on social media, asking its community whether to list the trending token. 

Slerf’s hype continues despite its botched presale earlier today. The token’s developer accidentally burned its entire liquidity pool of $10 million in SOL tokens raised from presale investors. Since then, the developer has launched a bonus presale round.

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