Outside Source
TL;DR
- Slerf (SLERF) experienced a significant price surge, becoming one of the top Solana-based meme coins.
- The asset’s previous rise was accompanied by controversy, including a developer error, highlighting the risks associated with meme coin investments.
The cryptocurrency sector has recently returned to green territory, with the global market capitalization spiking above $2.8 trillion.
Bitcoin (BTC) and other leading digital assets have rallied significantly, but their ascents can’t be compared to Slerf’s (SLERF).
The price of the recently-emerged token has jumped by 35% on a 24-hour scale, surpassing the $0.80 mark (per CoinGecko’s data).
Its market capitalization exceeded $400 million, making it the fourth-biggest Solana-based meme coin. The top three assets of that type remain dogwifhat (WIF), Bonk Inu (BONK), and BOOK OF MEME (BOME). All of those are well in the green today (March 26), too.
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 developer behind it accidentally burned $10 million worth of funds raised from investors during the presale.
This came as a reminder that dealing with meme coins can lead to devastating losses due to their tricky nature and infamous volatility. Those willing to avoid some common mistakes when entering the ecosystem should watch our dedicated video below:
This article first appeared at CryptoPotato
