As reported by CryptoPotato, Slerf (SLERF) price increased by 35% in 24 hours, surpassing the $0.8 mark, becoming one of Solana’s top memecoins. According to data from CoinGecko, SLERF has a market capitalization of over US$400 million, making it the fourth largest memecoins in the Solana ecosystem. The top three memecoins are dogwifhat (WIF), Bonk Inu (BONK) and BOOK OF MEME (BOME).
However, the development of SLERF has not been smooth sailing. SLERF’s previous resurgence enabled savvy traders to make multi-million profits (at least on paper). CryptoPotato reported that one such investor made approximately $3.5 million in less than three days. However, it is not all sunshine and roses with SLERF since the token was also involved in suspicious activity. A week ago, the developers of SLERF accidentally burned $10 million worth of funds raised from investors during the presale. This also reminds investors that due to the complexity and volatility of memecoins, investing in memecoins may result in huge losses.
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