Aptos

Bank AI

Toncoin

when

Trillion

Memecoins are emerging as a popular investment option alongside traditional crypto. The memecoin WIF has surged the most in the memecoin market in the past 365 days.
The Solana-based memecoin Slerf (SLERF) launch has raised questions and rumors, as its developer asserted that it accidentally burned a substantial presale allocation of Solana (SOL) tokens worth $10 Million. This incident has also raised several questions about the presale.
The developer of Slerf accidentally burned both the liquidity and the 500 million tokens allocated to presale participants.&nbsp;
The project successfully raised over $10 Million in presales. Over the weekend, the project was one of several Solana-based self-starters that attracted millions of crypto-enthusiasts through presale initiatives.
Despite a decline in Solana’s price, Slerf’s price surged 48.51% intraday; at the press time, it was trading at $0.888. The coin went live on March 18, 2024, and in a few hours, it grew significantly.&nbsp;
The market capitalization of Slerf is $505.49 Million, and the past 24-hour trading volume is $1.72 Billion. There are also claims that other than funding, a significant portion of funds is injected.
<h2 class="wp-block-heading" id="strong-is-sol-price-affected-by-slerf-event-strong">Is SOL Price Affected By Slerf Event?&nbsp;</h2>
In the past 24 hours, the trading price of Solana (SOL) slipped 10.69% when it was trading at $184.73. As per market observers, the decline in the price is influenced by the news of Slerf memecoin.&nbsp;
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/bim8Mr37Uw3TfNdVZPb4VZqbrQ8WwR6zivzIvy8Pxuug_gPAAdgVAQWEjjaMDyZQdbLmhAWmUmbaVPbTAnMveGaPqdqwUU_tQG7ntn7xVgf6-S3XSjN89X_MlVd09ofZ9iqAH1SR4aOHzKtpac4RcvE" alt="">
 <figcaption class="wp-element-caption">
 Source: CoinMarketCap
 </figcaption>
 </figure>
</div>
The claims are yet to be proved, but the speculation indicates that the Slerf presale incident is largely behind the sharp decline.
<h3 class="wp-block-heading" id="strong-market-update-strong">Market Update</h3>
Abuja’s Federal High Court, on March 19, 2024, summoned Binance Holdings Limited to provide comprehensive information to the Economic and Financial Crime Commission (EFCC) on all users trading from Nigeria on its ecosystem.
China’s Central Bank, the People’s Bank of China, has now released a service guide for foreign visitors to help them ease the usage of e-CNY. The aim of publishing the guide is to help visitors make contactless payments with the central digital currency.&nbsp;
Not just a single crypto or a few cryptos, but a large chunk of the <a href="https://www.thecoinrepublic.com/2024/01/31/how-is-the-fed-meeting-going-to-affect-the-crypto-market/" target="_blank" rel="noopener noreferrer nofollow">crypto market</a> has slipped significantly in the past 24 hours. A significant decline of 7.12% to $2.41 Trillion was seen in the market capitalization when writing.&nbsp;
The industry leader, Bitcoin, lost 7.01% of its trading price and fell to $63,418. A day earlier, it was trading above $68k. However, earlier this week, BTC had traded at its all-time high.
Dogwifhat (WIF), one of the most popular memecoin lost 23.45% intraday, and made it to the top of the losers topper. Aptos (APT) remains bullish as it added 4.44% to its trading price, Stacks (STX) gained 3.08%, Toncoin (TON) gained 1.61% and Fantom(FTM) is up 1.32%.
Even after this significant decline, the fear and greed index of the crypto market shows that there is still greed among investors. Further, a decline is expected if the F &amp; G indicator continues to show greed.&nbsp;
<h4 class="wp-block-heading">Disclaimer</h4>
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.

Slerf Presale Creates Controversy, $10M Burnt Accidentally!

Table of Contents

Thecoinrepublic.com

Other articles published on Mar 19, 2024

Here's Why Bitcoin (BTC) Is Dropping: Top Binance Trader Explains

XRP and ATOM Listing Unveiled on BitMEX, Price Rally In View

Bakkt announces leadership shake-up ahead of financial release

NEAR Price Dynamics: A Closer Look at Recent Market Movements

Is Terra Classic Approaching a Turning Point? Pay Attention to These Metrics

Lido Staked Ether Decreases More Than 6% Within 24 hours

Join our free newsletter for daily crypto updates!