Solana Memecoin Skyrockets to $620,000,000 Market Cap Hours After Launch Amid Multiple Exchange Listings
A new Solana (SOL)-based memecoin has soared to more than a $620 million market cap shortly after launching and securing listings on multiple crypto exchanges. Slerf (SLERF), a new sloth-themed memecoin, is now trading on at least four crypto exchanges as of Monday. MEXC added Slerf to its “assessment zone,” which is reserved for low-cap digital assets prone to volatility. Poloniex, Bitget and Bybit also said they are listing Slerf for trading. Amid the token launch and exchange listing news, Slerf soared to a high of $1.25 on Monday, and the project’s market cap shot up to $622 million. SLERF has since retraced to $0.51 at time of writing, and its market cap declined to $255 million, making it the 277th biggest crypto asset on the market. The token launch got mired in confusion as the project’s official account on the social media platform X announced a major mishap. The project team says that in the process of burning liquidity providing (LP) tokens, they als