SLERF token grew by 5000% in just two hours

Not financial advice!

The new Slerf meme coin, created on the Solana blockchain, has faced significant problems after the project developer accidentally burned a significant portion of the token supply. In fact, he lost $ 10 million, which is all the funds of the pre-sale participants, The Block writes.

«Guys, I’ve given up,» the project’s official account wrote on X. «I burned LPs and tokens that were set aside for the airdrop. The mint’s authority has already been revoked, so I can’t mint them. There is nothing I can do to fix it. I am very sorry.»

Later, the Slerf team created a channel on X Spaces to talk more about the situation.

SLERF’s price has risen by about 242% in the last hour amid the shocking news, with various X Space members claiming that the best course of action would be to «take it to $ 1 billion.» According to internal data cited by Lookonchain, one trader made over $ 3 million in 12 minutes trading SLERF.

Despite the unsuccessful launch of the SLERF meme coin, it grew by 5000% in just 2 hours.

As a reminder, Solana-based coins, the decentralized exchange aggregator Jupiter (JUP) and the decentralized oracle network Pyth Network (PYTH), have been growing in value recently. SOL itself rose by 43% last week alone to reach $ 200.

No Worries strongly recommends that readers do not invest in dubious crypto projects or little-known digital assets!