The post Solana ICO “Slothana” Launches April 29 – Best Meme Coin To Buy Now? appeared first on Coinpedia Fintech News
Slothana (SLOTH), a Sloth-themed meme coin that entered the Solana meme coin scene in March, has already taken the entire crypto market by storm by raising more than $10 million in less than a month.
Inspired by Slerf, another Solana-based meme coin that grew viral after its developer “mistakenly” deleted the liquidity pool, Slothana is a new offering that promises to be error-free.
In what some traders are tipping as the best Solana meme coin ICO to invest in, limited time remains – Slothana is set to launch in just under fourteen days.
The Rise of Solana Meme Coin ICOs
It was in the third quarter of 2023 that Solana meme coins started to gain steam. People who veered from Solana after many supposedly labelled it as a “Sam Coin” for its association with crypto fraud Sam Bankman-Fried returned in droves and embraced Solana meme coins wholeheartedly.
The first success that we saw with Solana meme coins was BONK. A Doge-based crypto with a simplified look and unique use cases, BONK became one of the first SOL-based meme coins to reach $1 billion in market capitalization.
Another successful Solana-based meme coin was dogwifhat, followed by Myro. There has been an onslaught of such Solana ICOs lately.
The cumulative market capitalization of Solana-based meme tokens is more than $6 billion according to Forbes, and the entire Solana ecosystem is valued at over $200 billion per CoinMarketCap.
Slerf was one of the latest offerings in this arena that gained notoriety shortly after it went live.
“I messed up,” said Slerf’s dev, revealing that he had mistakenly sent all the tokens meant for the liquidity pool to a burn address.
Driven to help investors after this supposed “mistake,” major cryptocurrency exchanges like Huobi and LBank came forward. That led to Slerf recovering in price and exploding to new highs, generating a daily trading volume of exceeding $1.5 billion at one point.
While Slothana’s inspiration comes from Slerf’s virality, it will likely not make the same blunders as people have become wiser about Slerf.
Was SLERF Really a Mistake?
The “mistake” that helped Slerf gain a lot of traction in the market is no longer seen exclusively as an accident.
Many have posed questions related to the timing of Slerf’s issues. Committing errors when the market is especially hot is a win-win situation for the developers.
As support came flooding in from LBank and Huobi shortly after this mistake was revealed, more people became interested in this project. Not willing to lose on this newly emerged token, investors came flooding in, which led to Slerf’s pump.
However, many have said that the team’s remedial efforts and the transparency surrounding SLERF about the identity of its team members don’t make it seem like a rug-pull.
However, the mystery remains as the issue’s positive consequences are as clear as day.
That said, Slothana (SLOTH) doesn’t have the same liberty as Slerf. Can it still go viral?
Slothana Price Prediction
Slerf was the first sloth-based meme coin, and its mistake is the only factor that contributed to its virality. Slothana is a different token. It only has its imagery to back it up and its airdrop model of its presale.
Sending 1 SOL to the address: EnSawje2vQSQKtGbPYdXEuYKm2sHgeLKJTqCmrDErKEA will give investors 10,000 SLOTH tokens.
However, as far as long-term utility or presale stages are concerned, Slothana doesn’t have them. So, how can it still go viral?
Here are some of the key factors that could position SLOTH as the best meme coin to buy now:
Sloth is a New Solana ICO
Solana-based meme coins are all the rage now, the newer the better.
People are attracted to the Solana blockchain’s low gas fee and high transaction speeds, which have helped Solana get positive reactions from the market, and traders are always chasing the next big meme coin.
The Right Market Conditions
With the halving near and people trying to cash in their gains, Bitcoin has attracted much interest, pushing it to its 2024 all-time high. Positive market conditions allowed it to blow past the $73k resistance.
Even though BTC has pulled back from that level and is now trading around the $66k mark, the community sentiment is still positive. Such circumstances present the perfect timing for meme coins to prosper.
Honest Appeal
Make jokes and make money; it doesn’t get any simpler than that. All Solana-based meme coins have focused on comedy, allowing that to become the key driver to its growth. They don’t make any long-term promises and don’t discuss any future-focused perks. Only profits remain the focus, and the degens love it.
Good Aesthetics
Slothana has good aesthetics and lore. Showing a suit-wearing Sloth dreaming about quitting his 9 to 5 job, it speaks to the minds of degens who want to get rich fast rather than creating wealth slowly from their daily jobs.
In Slothana’s words, “Our office sloth is ready to ditch the daily grind and embrace the world of crypto trading.”
Timed Presale
Even though Slothana entered the presale arena as a “no-timed” presale and could raise upwards of $10 million to date, it has now adopted a timed structure.
A 14-day timer has now been introduced to this Solana ICO, adding more urgency to the presale. People now have a limited time to buy. This urgency can give it the boost it needs to rise high on the price charts.
This news came shortly after the Slothana dev team revealed that the airdrop is being prepped for launch.
Another key factor that could boost more support for this token is Solana’s resurgence. After crashing due to congestion issues last week, this crypto has now bounced.
SOL’s resurgence can boost Slothana’s value when it finally launches.
Best Meme Coin To Buy Now?
A simple lore, good imagery, and an attempt to capitalize on the recent influx of Solana-based meme coins – Slothana has all the perks that could make it the next meme coin hit post-ICO.
Will it hit 10x or even 1000x? Only time will tell. For now, the market is hot enough to consider it a decent investment for short-term parabolic gains, and a significant amount of longs were liquidated this past weekend, with the Solana price now bouncing hard.