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The Solana presale saga continues as new meme coin Slothana raises $500K in its opening hours.
Following in the footsteps of sensations like SLERF, BOME, PUMP, and PUDU, Slothana’s presale is a single-tiered event where users simply send SOL to the presale’s wallet.
This no-thrills approach is opposed to the typical tiered presales, which comprise incremental price increases in a bid to arouse FOMO. Yet, the nonchalant nature of Slothana and its predecessors is precisely the allure that is captivating meme coin degens.
Market participants simply send SOL to the Slothana wallet address and then sit back and wait until the tokens are airdropped. According to its website, 1 SOL equals 10,000 SLERF.
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Slothana starts strong
Despite launching just eight hours ago, the Slothana presale has already raised a staggering $500K.
Indeed, lots of new IEOs can hit a $500K market cap, but a $500K total raise is different. While the market cap represents value based on the price of one token, Slothana’s total raise comes from cold, hard liquid investments.
This illustrates an unwavering appetite from some deep-pocketed whales and smart money. However, its early stage sparks speculation as to why they are investing.
Could it be general excitement about Slothana’s fresh outlook? Is SLOTH the Solana meme coin saga’s next evolution? Or do they know something the broader market does not?
Is the 100X Smog team behind Slothana?
It would be understandable to think that meme coins are light-hearted moonshots with very little thought or organization in their construction. However, this is simply not the case for many.
For instance, the new Solana phenom Book of Meme recently became the fastest-ever meme coin to a $1 billion market cap, achieving the feat in just two days. Did this happen by chance?
Analysts think not. Lord Ashdrake alleges that BOME is a “cabal coin,” speculating, “You cannot tell me a 20k account did all this by himself.”
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The tweet has garnered almost 700K views, illustrating the broader market is also suspicious of BOME’s meteoric success.
However, Book of Meme is far from the only meme coin employing advanced strategies for success. And now rumours are circulating that the Smog team is behind Slothana.
Smog soared over 100x after launching in February, peaking above a $200 million market cap.
While it remains to be seen if Smog’s team is behind Slothana, the new project’s considerable early success undoubtedly resembles Smog’s.
The Solana presale narrative is gaining pace
What started as an inner-circle degen play is now discussed on mainstream media outlets.
The meteoric rise of Book of Meme and Slerf has captivated market analysts, as evidenced by Bloomberg’s recent coverage of Slerf and how it eclipsed the market in on-chain trading volume.
Since both BOME and SLERF started as presales, the narrative is undoubtedly gaining legitimacy. With that, market participants sidelined by the two phenoms are now hungry for their slice of parabolic pie, presenting Slothana with a vast addressable market.
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But in addition to investment flooding in, Slothana is also gathering momentum in the social realm. With just two tweets on X, it has already started to trend by outlining its plans to become a “$420 million crypto chad.”
⏰ Tired of the 9-5? So is Slothana!🦥Our office sloth is ready to ditch the daily grind and embrace the world of crypto trading. No more getting high on herb, just high on profits! Send SOL to help our sloth go from 420 couch surfer to $420m crypto chad! #slothana #memecoin
— Slothana (@SlothanaCoin) March 25, 2024
⏰ Tired of the 9-5? So is Slothana!🦥Our office sloth is ready to ditch the daily grind and embrace the world of crypto trading. No more getting high on herb, just high on profits! Send SOL to help our sloth go from 420 couch surfer to $420m crypto chad! #slothana #memecoin
— Slothana (@SlothanaCoin) March 25, 2024
Slothana investors can help spread the project’s word by engaging with or sharing the tweet. Having launched just eight hours ago, Slothana is already proving a formidable contender in the Solana meme coin sphere.
To learn more about this project, Visit the Slothana website or Join the community
Read more: Solana meme coin costs trader $46k in 3 minutes
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