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Even with crypto prices cooling down over the past few days, smart-money traders continue to print millions with new meme coins.
One crypto trader made $3.02 million in a span of just 12 minutes through Slerf – a sloth-based Solana meme coin. He purchased 69.74 million $SLERF tokens by swapping 9,894 $SOL tokens – worth ~$1.96 million – immediately after the meme coin opened trading.
Just 12 minutes later, he sold his entire $SLERF holdings for 25,001 SOL tokens, worth ~$5 million.
Another crypto whale – that supposedly has never purchased any Solana-based cryptocurrency ever – has also purchased over $32M worth of Slerf at an average price of $0.35. Considering that the meme coin is currently trading at $1, this whale already has an unrealized profit close to $11 million.
Why Did The Slerf Price Explode?
The Slerf meme coin launch caught the attention of crypto traders when its developer accidentally burned $10 million worth of $SOL raised during its presale, along with the entire liquidity pool.
In such a scenario, all investors participating in the presale would not be able to receive the promised airdrop.
Instead of this being a disaster for the project, the Slerf price exploded, surging by 4,500% in a span of a few hours. Experts reveal that the attention drawn to the meme coin due to the accidental burn – along with the fact that the presale investors won’t be able to dump their holdings on late entrants – resulted in Slerf skyrocketing.
After launching at a penny price of $0.021, the meme coin is now trading at $1, with a market capitalisation of $512 million. Its all-time high is $1.35, with a valuation of $673 million.
Analysts such as Alex Kruger are calling it the “most incredible DEX launch in the history of crypto”.
The fact that BOME – another Solana meme coin that recently skyrocketed – is now falling is also helping Slerf’s cause. Investors believe that Slerf could soon flip Bome coin in market capitalization, which would be a stunning turn of events since the latter recently secured a listing on Binance – the world’s largest crypto exchange.
The best of Slerf still seems to lie ahead, since a number of crypto exchanges are rushing to list the meme coin. For instance, @Haoskionchain, the global head of derivatives and financial products at ByBit, just revealed that his exchange will list $SLERF contracts later today on Monday.
The meme coin has also gone live on Bitget and MEXC.
Could The Smog Meme Coin Reach $1 Billion Market Cap First?
Solana meme coins remain the main draw of the ongoing crypto bull run, offering plenty of opportunities to turn small-scale investors into millionaires.
One such meme coin – Smog – also stunned investors after its launch on February 7th. The token opened trading at the listing price of just $0.001419 and reached an all-time high of $0.38 less than a month later, representing a price rally of 27,000%. It boasted a market cap of over $263 million at its peak.
Smog suffered a marginal pull-back as part of the bearish broader market outlook, falling as low as $0.165 yesterday on Sunday. However, it appears to have started its next upside move, rallying 32% over the past 24 hours.
It is currently trading at $0.2293 with a market cap of $175 million. Analysts believe that Smog could be the next Solana meme coin to reach the $1 billion mark.
Smog Promises “The Greatest Airdrop In Solana History”
Solana airdrops are in high demand – even the $SLERF token promised an airdrop to all presale buyers before the accidental burn.
The Smog project promises the greatest airdrop in Solana history, which will reward over 10,000 token holders. The project roadmap – available on its website – also hints at more upcoming airdrops that could potentially benefit over 100,000 holders.
Investors simply need to hold $SMOG tokens and register for the airdrop on Zealy, where they can also complete daily quests to receive a bigger allocation.
Season one of the Smog Airdrop ends in just 15 days, on the 2nd of April.
Smog – A Multi-Chain Meme Coin
Smog is a multi-chain meme coin – after its launch on Solana, the token is now also available on the Ethereum network.
Investors looking to buy $SMOG with SOL will need a Solana-based wallet such as Phantom. They can then use the Jupiter Exchange or Birdeye to buy the token by swapping either SOL, USDT or BONK cryptocurrencies. They need to continue holding $SMOG in order to increase their airdrop points.
Alternatively, buyers can head to the Smog website and use the over-the-counter widget to buy the token with ETH – currently at a 10% discount. This will allow the buyers to also stake their holdings and earn passive income at an APY of 42%, while also farming airdrop points.
*Cryptonomist did not write the article or test the platform.