While the Solana-based meme coin craze continues, a new competitor surpassed $590,000 on its first day. Slothana (SLOTH), a Solana-based meme coin, has significantly disrupted the meme coin market by raising an impressive more than $590K from investors shortly after starting its pre-sale event.
With the rapid purchase of Slothana coins in the pre-sale, SLOTH is currently gaining popularity on Twitter (now known as X) due to the widespread belief that it will be the next Solana meme coin.
Slothana has a distinctive crowdfunding framework with no time frames or pricing levels, similar to recent meme coin phenomena SLERF (SLERF) and Book of Meme (BOME).
Solana meme coins ranging from DogWifHat to SLERF have emerged as prominent figures in the recent rise in cryptocurrency value. Now SLOTH’s potential profitability is under the spotlight from whales.
How to Buy Slothana Coin?
To participate in the presale and purchase Slothana coins, investors must transfer their Solana (SOL) tokens to a wallet address accessible on the slothana.com website.
It is reported that upon completion of the pre-sale, 10 thousand SLOTH will be airdropped to the contributors’ wallet for each Solana (SOL). There will be no delay in obtaining the tokens after the pre-sale is completed. The pre-sale is being conducted on a true first-come, first-served basis, with no posted caps.
SLOTH’s Place in Solana’s Multi-Billion Dollar Meme Coin Market
If Slothana continues this early momentum, it looks set to follow in the footsteps of SLERF and BOME by securing listings on major exchanges shortly after its airdrop.
This sector has experienced significant growth, reaching a significant market value of nearly $7 billion and a daily spot trading volume of $2 billion. It is also worth noting that four of the ten most valuable meme coins are currently based on Solana, thus pushing Ethereum’s position as the blockchain of choice for meme coin developers.
Solana faced several challenges. Blockchain outages occurred last year, albeit to a lesser extent than in the previous year. However, it seems to have successfully completed the beta phase.
Solana is emerging as the preferred option for creating meme coins due to its fast and cost-effective processing capabilities that surpass Ethereum in terms of performance.
Solana’s low transaction fees and high trading volume likely facilitate this changing of the guard, benefiting aggressive traders.
Will SLOTH Become the Next SLERF?
The excitement surrounding the launch of Slothana is seen as the latest highlight of the significant growth in Solana’s meme coin ecosystem.
On the other hand, paying a $50 fee to Ethereum validators to facilitate the buying and selling of a new meme coin on a decentralized exchange is also annoying for investors. The primary factor contributing to Solana’s emergence as the blockchain of choice for trading meme coins is its fundamental nature. The Solana blockchain is currently the most active blockchain in the world, primarily due to the seemingly trivial nature of meme coins.
SLOTH mimics the success of SLERF, PUNDU, BOME, and PUMP by allowing investors to purchase Slothana coins in advance by sending SOL tokens to a designated wallet address during the pre-sale. As it is known, SLERF accounted for 20 percent of the total transaction volume on Solana, thus making Solana the leading blockchain in terms of transaction frequency.
On the other hand, a significant number of these exceptionally performing coins, such as Dogwifhat (WIF) and Bonk (BONK), were launched without any practical implementation. Their significant progress is also attributed to clever marketing strategies and a passionate internet community.
SLOTH’s Advantage in the Meme Coin Market
The launch of Slothana coincides with Doge Day and Bitcoin’s halving. The timing of Slothana’s launch looks like it could be its most important catalyst, despite the repercussions of its brand and unhelpful strategy. On the other hand, Slothana coin
So, SLOTH token is preparing for its initial public offering on the stock exchange in anticipation of April 20, which is also known as “Doge Day” among meme coin fans.
However, Doge’s Day is expected to have greater significance this year as it coincides with Bitcoin’s upcoming halving event.
Given the combination of the meme coin craze and a major turning point in Bitcoin, it seems likely that a significant wave of speculation will occur in this space.
Moreover, Slothana appears to be well positioned to benefit from this speculation, according to many experts.
The Slothana pre-sale only requires potential buyers to transfer their SOL tokens to a wallet. Upon completion of the pre-sale, investors will be provided with an airdrop of SLOTH tokens in the same wallet to which they sent the SOL token.
No matter what happens with meme coins, the most important factor is usually getting into the market early. For investors who cannot participate in the above-mentioned meme coins, Slothana offers an opportunity to enter the market at an early stage.
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