$SLERF has just done a refund of its pre-sale from early investors who went in on the private sale but did not receive any $SLERF.
This was a result of the accidental incident of the initial liquidity pool token of $SLERF being burnt by the team.
Currently, the refund is still in progress in the distribution phase, but this has made investors and traders believe that the team behind $SLERF operates on goodwill and can be trusted, prompting a new buying volume.
Is $SLERF Recovering?
The positive sentiment was brought in by the refund news which created more trust among the Slerf Community.
This refund program was coordinated with an exchange in the distribution process, however, the initial capital came mainly from the community.
While most of the funds came from the treasury of Slerf, some of it came from other holders of $SLERF in the community who donated to the project to pay back the victims of the incident.
The incident happened in the early days of $SLERF where the accidental token burn made $10 Million worth of treasury funds disappear.
The funds were originally planned to be used as a development fund to grow the project as well as for airdrops to gain traction among crypto enthusiasts.
The team behind the token carried on by launching a public sale in which they managed to gather some funds to continue the development of $SLERF.
Currently, there are no clear plans on where the project is going after the refund is done. But, partnerships with other meme and crypto projects have made this project one of the most notable meme tokens in the crypto space.
New 100% Price Gain Potential
Looking at the price movement, the token seems to be recovering from its downtrend, which happened at the end of March 2024.
$SLERF’s Chart / Source: Tradingview
The price of the token is currently trending upwards, prompting speculations that the price is ready for another surge.
The recovery seems to have started after the Bitcoin Halving, which is not a huge surprise considering most meme coins and tokens went up after the halving.
However, the confirmation was created after the refund news became popular, which triggered a new influx of buying volume to the token.
If $SLERF manages to stay above $0.4363, then there is a potential for the price to go up even higher than it currently is.
The next target is at $0.6475 going all the way up to $0.8639, which could trigger a new price surge of around 100% in the coming days.
This prediction all depends on the overall meme coin sector and the crypto market sentiment. As long as the market continues to be positive, then there is a potential for this prediction to be true.
To capitalize on this, traders and investors can buy $SLERF safely on the spot market through Bitrue with the $USDT Token.
However, note that this token is still categorized as a meme-based project, which still has huge volatility in its price movement.
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