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The memecoin project SLERF, launched on the Solana Blockchain after a pre-sale on social media platform X, has managed to surpass BOME in market value with a significant increase. SLERF is currently standing out as the eighth largest memecoin with a market value of $612 million and continues to make headlines with developments in its ecosystem.
SLERF Made Headlines with Liquidity Pool and AirDrop Token Burn Incident
In a surprising turn of events, SLERF made headlines when it was announced that due to a careless operation during the token’s creation, the entire liquidity pool (LP) and AirDrop tokens were accidentally burned, capturing the attention of the cryptocurrency world.
The end of the road seemed near for investors who participated in the pre-sale when it was announced that the project’s contract had canceled the permission to mint new tokens. Despite collecting over 50,000 SOL worth $10 million in the pre-sale on X, it was declared that no tokens or SOL refunds would be made to the participating investors.
The accidental burning of the LP and AirDrop tokens led to disappointment among investors and raised questions about the future of the project. SLERF’s decision not to reimburse pre-sale investors increased concerns within the community and led to a loss of confidence in the project, yet SLERF’s continued show of strength is noteworthy.
Project Receives Strong Support
Despite all the setbacks, the SLERF community has seen significant support from various cryptocurrency exchanges and donors, as evidenced by contributions to the donation address set up to support the project. Leading cryptocurrency exchanges including BingX, HTX, and Bitget have pledged to donate all transaction fees from SLERF trades to support the SLERF community.
Current data shows that the SLERF donation address has received substantial support, with a total of 2,300 SOL (approximately $430,000) and various SPL tokens amounting to about $16,000.
The donated funds are expected to be used to support the project and its community and potentially mitigate the negative impact caused by the token burn.
