Solana Meme Coin, Slerf Accidentally Burns $10 Million Presale Funds

Slerf, a new Solana-based memecoin, lost $10 million after the project’s developers accidentally burned a large portion of its token supply.

Developers using the handle @Slerfsol in said In X’s Space they “We burned the LP and tokens that were set aside for the airdrop.”

https://t.co/aTA2zuCylP

— Slerfsol (@Slerfsol) March 18, 2024

Developers created the Slerf project “Side Quest” Have one Spaces participant say the following: “Losing $10 million on a side quest is crazy.”

Despite this setback, the price of SLERF soared more than 2900% in the last 24 hours as traders got in on the hype.

See Also: OKX Ends USDT Pair In EU, Still To List Solana Meme Coin

Raydium’s SLERF trading pair generated over $2.5 billion in daily trading volume, making it the highest volume pair on Solana.

Despite only launching yesterday, it has already secured listings on centralized exchanges such as HTX, Gate.io, Bitget, BingX, and MEXC.

Bybit also listed a perpetual futures contract on SLERF.

Over the weekend, several random Solana memecoin projects emerged and received significant funding, often in the millions.

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