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Pre-sale and early investors are now celebrating massive returns from Slothana, Solana’s most popular new meme coin. According to data from DexTools, the $SLOTH token has risen 107% in the past 24 hours to hit an all-time high of $0.032.
$SLOTH launched earlier this month after raising an eye-popping $15 million through a month-long pre-sale that ended in April. The tokens hit the market on Wednesday after being airdropped to buyers.
Meme coins are being pumped hard these days. A steady series of developments appear to be driving buying momentum this week.
On Wednesday, the token airdrop ended and $SLOTH was launched on Raydium, a Solana-based decentralized exchange (DEX). The team also announced that it has submitted an application for listing on CoinMarketCap and CoinGecko, two of the most popular cryptocurrency aggregators, through its X account, a clear nod to the project’s market share ambitions.
team on thursday presentation You have now given up all control over the $SLOTH smart contract. This means that all tokens are currently in circulation.
Finally, today the Slotthana team unveiled a new burn mechanism where every time the price of $SLOTH rises by 1 cent, the equivalent dollar equivalent token (multiplied by 1 million) is burned. If it sounds confusing, it really isn’t. Take a look at the tweet:
🔥🌲🦥 There is a risk that your Slotthana tokens will go up in smoke! As follows $SLOTH Prices rise, wildfires intensify faster, $SLOTH Reduces the token to ash.
📈 $0.03 = $3 million $SLOTH It burned down 🔥
— Slothana (@SlothanaCoin) May 10, 2024
📈 $0.04 = $4 million $SLOTH It completely burned down 🔥
📈 $0.05 = $5 million $SLOTH It completely burned down 🔥
📈 $0.06 = $6 million $SLOTH… pic.twitter.com/xdhd69JD55
This mechanism serves to increase the scarcity of Slotthana, further increasing its value, and setting the stage for a potentially explosive future rally as the token becomes rarer the higher its price.
$SLOTH’s DEX debut
Slotthana’s trading chart for the week shows the token starting to rally hard after the airdrop ended on the evening of May 8th UTC. This line forms a textbook bullish pattern from then on, followed by a sharp uptrend followed by a brief period of consolidation.
$SLOTH is a good price right now. A relative strength index of 59 and falling indicates that the asset is not overbought and healthy selling momentum is returning to offset speculation as the token takes a breather before its next uptrend.
There’s a good chance we’ll launch the rocket again. In the last 24 hours, trading volume for the $54 million market capitalization token hit a whopping $11.57 million among over 36,000 holders.
As demand for Slotthana surges, the two exchanges announced that X will list the token for trading starting today. XT.com and poloniex We’ve released a new $SLOTH list by lunchtime UTC.
People trust it as a meme coin that will bring value. The token contract has been verified on DexTools and the project’s DEXTscore is 82/99. Additionally, according to Token, approximately 93.5% of community voters trust it. profile.
Clearly, this fun and irreverent meme coin is gaining momentum. From a huge launch to a hot listing, Slotthana is already one of Solana’s best debuts of all time.
Slotthana Presale: $15 Million Raised
Slotthana’s month-long ICO ended late last month after attracting a whopping $15 million in investment.
The auspicious timing, along with the growing appetite for meme coins that have provided all kinds of laughs to Dogecoin imitators who are currently vying for supremacy in the sector, helped make the project a success.
First of all, Slotthana has its roots in counterculture. From the clock hands on the wall showing 4:20 to his glazed, red eyes, Slothana was born with a clear display of his allegiance to the legions of potheads around the world.
In keeping with the lackadaisical vibe, Slotthana is a sloth. Like his predecessor Slerf ($SLERF), he creates space for a much more diverse meme coin sector beyond the typical operation of Shiba Inu Doge meme themed coins such as Dogecoin, Shiba Inu, Bonk, DogWifHat, and Floki.
Shortly after the international stoner holiday weekend on April 20, which also happened to be the Bitcoin halving update day, Slotthana’s presale value jumped from $10 million to $15 million.
With the cryptocurrency’s success this year closely tied to the news cycle, two price-boosting events have Slotthana holders expecting a fierce rally following its launch.
Is the 2024 Bull Run coming for the Slothana and Solana ecosystems?
On April 20th, Slotthana’s favorite day of the year, a pre-programmed four-year Bitcoin software update called the “halving” made mining Bitcoin twice as difficult as earning the same rewards.
As the market moves in lockstep with Bitcoin, these supply shocks have previously resulted in significant strength within a year of the last three halvings, and analysts expect this year to be no different.
When Bitcoin is strong, so is the rest of the market. Almost all major cryptocurrencies track Bitcoin’s price movements, and late February/early March saw the steepest gains so far this year for many projects. Bitcoin set a new high watermark of $73,737.94 on March 14.
❤️💰 Get ready for the arrival of Slotana! With our coffers overflowing, it is time to embark on a sloth crusade to build a global empire. Slotana’s reign is at hand. ⚔️ Anyone who stands in the way will face the wrath of the Holy Slotana Army! 🚀🦥 #SlodhanaEmpire… pic.twitter.com/TyFjlJTL8q
— Slothana (@SlothanaCoin) April 11, 2024
It’s an exciting time to be a part of Solana. The second most commercially important blockchain for cryptocurrencies is quickly surpassing Ethereum to become the blockchain for the biggest meme coins of tomorrow.
In a relatively short period of time, projects such as DogWifHat ($WIF), Bonk ($BONK), Book of Meme ($BOME), and Popcat ($POPCAT) have emerged as top 10 meme coins by market capitalization. The market also wants more. Solana’s most notable recent launches include Dogeverse, a multi-chain Dogecoin killer, and Sealana, a US-wide cryptocurrency exchange.
It’s no mystery why the network is on the rise. Solana is a digital economy that hosts over $4 billion in Total Value Locked (TVL) across a variety of apps and financial services. It has over 1.15 million daily trading active users and over 2,500 monthly active developers.
Will the Ethereum ETF be a catalyst?
One of the main catalysts for Bitcoin’s rise this year has come from the fact that Bitcoin has become a multibillion-dollar investment product in the U.S. this year, thanks to the launch of 11 spot Bitcoin ETFs in January.
Now analysts suggest that a spot Ethereum ETF will come out next on May 23rd. This is the first deadline for the SEC to return its verdict on the latest spot Ethereum ETF. If the Ethereum investment product is approved in the United States, it would be a clear signal to the world that the cryptocurrency is more than just Bitcoin.
This could foster explosive rallies across Ethereum as well as so-called “Ethereum killer” blockchains that deploy highly functional smart contracts, such as Slotthana’s native blockchain, Solana.
So, the $SLOTH pre-sale period may be over, but it’s still not too late to join the crowd of cryptocurrency’s funniest and most disruptive new meme coins after the airdrop.
Visit Slotthana official website is here.
Check out the latest developments at Slotthana’s. X account.
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