The cryptocurrency world witnesses new and surprising stories every day. Recently, Slerf, a Solana-based meme coin, wrote a success story that stunned both investors and the crypto community. Launched on March 18, 2024, Slerf coin managed to surpass the transaction volume of all Ethereum-based decentralized exchanges in the first 24 hours. There is a very interesting story behind this miraculous rise.
Slerf coin surpasses ETH in transaction volume
The cryptocurrency world has seen its share of strange events, but the story of Slerf, a “laziness”-themed meme coin on Solana, takes the cake. Launched on March 18, 2024, Slerf managed to surpass the trading volume of all Ethereum-based decentralized exchanges within the first 24 hours, thanks to a surprising twist of fate.
cryptokoin.com As we reported, the initial launch was marred by the developer’s error. In a move that sent shockwaves through the crypto community, the developer accidentally burned $10 million raised during the pre-sale. This seemingly catastrophic error, in which funds were sent to an unrecoverable wallet address, should have meant the end of the project.
Developer error played a role in meme coin recognition
However, the opposite of what was expected happened. The incident sparked a frenzy, thrusting Slerf into the spotlight. Social media platform This exceeded the total trading volume of all Ethereum-based exchanges, underscoring the intense demand for Slerf despite the initial disruption.
The price reflected the trading frenzy. Starting at just 3 cents, Slerf rose a staggering 4,666% to $1.4 within hours. This rapid price increase has led some professional investors to dub Slerf a “blue chip,” referring to its potential for long-term success. Reasons for this sentiment include the fair distribution of the project among token holders and the expected future demand for meme coins.
Support pours in for Slerf
The Solana community rallied behind Slerf after the pre-sale mishap. Developers are actively seeking donations to compensate pre-sale participants who lost their investments. Leading crypto exchanges such as HTX and Bitget have pledged support by transferring trading fees from Slerf transactions to a special donation address. Additionally, LBank, another Solana exchange, took the initiative to donate funds directly to affected presale buyers.
Tron founder Justin Sun took action to support Slerf investors affected by the unfortunate incident. Sun announced that the revenues from all SLERF transaction pairs to be made on the cryptocurrency exchange HTX will be transferred to the victimized pre-sale users. Solana-based decentralized exchange Jupiter was also among the platforms that supported Slerf. Jupiter announced that proceeds from SLERF transactions will be transferred to pre-sale participants.
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