newly launched on the market solana based-based token PLERF is in a bullish trend in the crypto market with a 2100% increase in trading volume of $4.32 million. In addition to this impressive increase, the token price increased by 88% in just one day and 248% in one week. Currently, the price of PLERF stands at $0.004014.
It is also important to note that the token reached its all-time high of $0.005991 but is currently down 27%.
PLERF, a meme coin SLERFIt is seen as the next version of . It is stated that after SLERF achieved a transaction volume of $ 2.41 billion in the first 24 hours of its launch, PLERF aims to continue this legacy.
Why is PLERF Traded on the Market?
PLERF is an undervalued meme coin that was launched very recently. It was easier for it to gain the initial interest it sought from investors. It may also become prone to decline with continued slow markets and changes in trends. Regardless, the token is rising to new highs for now.
On the other hand, it is similar to the SLERF token, which dominated the market until recently but is in decline as of now. Called the next part of the SLERF meme coin, PLERF suddenly became the focus of investors due to its marketing.
Currently, SLERF has more than 75 thousand owners and liquidity of $129 and has attracted the attention of investors. Its market value is around $247,686,968 and its trading volume is $276,790,371. Therefore, investors hope that PLERF will follow a similar pattern and turn it into a huge profit-generating coin.
However, all crypto- The market is shifting towards a bear trend, with major cryptocurrencies suffering mainly due to the Bitcoin price drop. Amidst this chaos, the meme coin is able to maintain a run rate to either outperform the market or fall.
If PLERF achieves similar reach to SLERF, it has a good chance of gaining value. But due to the nature of meme coins, a few hidden fears always interfere with their value. Investors should be careful when investing in such high-risk cryptocurrencies.
