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Traders eagerly participating in Slothana’s presale reflect a broader market interest in Solana-based meme coins, signaling potential growth beyond the current frenzy.
The new ICO, Slothana, is faring one of the market’s hottest prospects as investors have invested $1.2 million into its presale.
Slothana’s presale launched just two days ago, reflecting an unwavering market appetite and setting a bullish outlook for its future trajectory.
Following in the footsteps of other Solana presale giants, SLOTH’s ICO is taking place at a single-tiered price. Investors send SOL to the presale’s wallet to receive their share of tokens.
However, with no hard cap mentioned, market participants are against the clock to ensure they gain presale eligibility.
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Solana presales are making millionaires
Slothana’s early success is no surprise, considering the meteoric triumph of Solana presales in recent weeks.
Kicking off the trend was Book of Meme. What began as an under-the-radar campaign made history by becoming the fastest meme coin to a $1 billion market cap, rendering countless early investors millionaires.
Data from the blockchain analytics account LookOnChain explains how one trader turned $72K into $30 million by purchasing the presale.
However, this was not the only Solana meme coin presale that caused a ruckus. SLERF is another phenom that comes to mind. Within two days of its launch, it eclipsed heavyweights like Ethereum in on-chain trading volume and received coverage in Bloomberg.
Other projects like PUDU and PUMP have also experienced immense success, solidifying the Solana presale narrative as one of the hottest ways to riches in crypto.
The acceleration of meme coin success reflects a growing mainstream acceptance, paving the way for newcomers also to explode.
In addition, Solana’s total value locked (TVL) is rising, expanding the investment potential for these new projects.
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Smart money and marketing prowess: Slothana’s secret key
Being the fastest meme coin to reach a $1 billion market cap, analysts were suspicious of Book of Meme’s strategy. Some suggested a team of back-seat whales joined the presale and colluded to ensure its success.
“You cannot tell me a 20k account did all this by himself,” said analyst Lord Ashdrake on X.
He then expanded, “There has to be some sort of arrangement because those 1000 SOL buys that came in to push the price ever higher have to come from somewhere.”
However, with Book of Meme now holding an astronomical market cap, smart money seems to be rotating profits to the next meme coin to explode. This is where Slothana comes in.
The presale has already raised a resounding $1.2 million in two days. Some deep-pocket players are already in.
But adding to the excitement, rumors are circulating that the Smog team is behind Slothana.
Smog launched in February and rose 100X, reaching over a $200 million market cap. Should the Smog team have launched Slothana, this would present a considerably bullish outlook.
The rumors are bolstered by the Smog team commenting on Slothana’s premier X post.
Although the Smog and Slothana teams are anonymous, both projects’ unwavering early success and shrewd marketing tactics illustrate a stark similarity.
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Analysts calling for massive gains
Despite launching just two days ago, leading analysts have rallied to support Slothana, backing it for explosive gains once it launches on exchanges.
YouTuber Crypto Guy recently published a video speculating that it “Could make you rich.”
Meanwhile, ClayBro analyzed the success of sloth-related Solana meme coins, speculating that Slothana could be the next to explode.
This bullish sentiment is furthered by prominent media outlets getting on board, with Coinpedia, CoinGape, Watcher Guru and others already featuring it.
These factors set a considerably bullish precedent for this new meme coin. However, without a predetermined hard cap, those looking to buy should act fast to avoid missing out.
Follow Slothana on X to stay updated. Alternatively, visit its website for the presale wallet address to buy SLOTH.
Read more: Solana’s Slothana meme coin presale raises $500K in 8 hours
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