The cryptocurrency market is experiencing a correction with many assets declining, but the new sloth-themed meme coin Slerf (SLERF) is bucking the trend, rising 70% to reach $1.30. 📈😮 However, the coin ran into trouble when the developer accidentally burned $10 million in funds raised from investors during the pre-sale.

The cryptocurrency sector is lower today (March 19) after a significant rise in the past few months. Leading digital assets such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP) and many others are in the red zone, and the global crypto market capitalization has dropped to approximately $2.5 trillion (according to CoinGecko) .

Solana-based meme coins have already made big waves this cycle. As a reminder, dogwifhat (WIF) and Bonk Inu (BONK) received support from Binance and other exchanges, and their market capitalizations briefly exceeded the $3 billion mark. Such assets are attractive because of the potential for significant profits in the short term, but they can be dangerous due to its known volatility.