Surge in Solana-based Meme Tokens – $PLERF Spikes 137%, $SLOTH Reaches $8M in Presale

Solana (SOL) grew by42% last month and nearly 800% year to date, and it's currently trading at $183. As the native coin is recovering from its lasting bear phase (all of 2023 and part of 2022) and enters the bull market, Solana-based meme tokens follow suit.

PLERF Trading Volume Surges 2,100%

PLERF, launched in March 2024, is another sloth-themed meme coin inspired by the successful project SLERF, which gained a $2.4 billion trading volume within 24 hours of listingon exchanges.

While PLERF's listing wasn't as explosive, it saw a 2,100% spike in trading volume on April 2nd, reaching $4.3 million and establishing its all-time high (ATH) of $0.005991.

Since then, the token's price has pulled back by 67% and now stands at $0.00199.

Given its volatility, we may see new spikes in the coming days. However, only time will show if this PLERF trading frenzy is a short-lived speculative bubble or a sustainable upward trend.

PLERF has no utility, initial token allocation, or a detailed roadmap, which means its value depends solely on community interest.

However, its listing on popular DEXs like Raydium and the upcoming CoinMarketCap listingshows the project's dedication to growth, leaving followers and investors bullish.

Slothana Raises Over $8 Million on Presale

Slothana (SLOTH) is the latest Solana meme coin capitalizing on the sloth mania. The project team is anonymous, but rumors claimSlothana is affiliated with Smog (SMOG), another popular meme coin.

Firstly, Smog expressed support for Slothana on X. Secondly, Smog is also a Solana-based token. Thirdly, both projects take a novel approach to presales.

You can send SOL directly to the developers' wallet addresses and get your token airdrops immediately instead of waiting for the presale to end to claim your funds.

Furthermore, the SLOTH presale doesn't have stages, and the price is fixed at 1 SOL for 10,000 SLOTH.

While SLOTH has no utility or a roadmap, it rapidly gained traction and raised $500k within eight hours of the presale launch. Currently, the project has passed the $8 million milestone and is confidently approaching new heights.

Visit the official presale website to learn more.

Bonus Mentions: WIF, BODEN, BONK

Other Solana meme coins, like DogWifHat, Jeo Boden, and BONK, have also hopped on the hype bandwagon.

DogWifHat (WIF) grew by 137% last month and 24% last week and is currently standing at $3.84 with a market cap of nearly $4 billion, the highest among Solana-based meme coins.

Jeo Boden (BODEN), a project playing on Joe Biden's name, saw a 1,623% price spike month to date. Currently, BODEN trades at $0.6161 and has a market cap of over $421 million.

Lastly, BONK, the first Shiba Inu-themed Solana token,surged 3,640% year to date but has since experienced a 51% drop from its ATH of $0.00004704 recorded in March.

Conclusion

As Solana's revival raises high hopes in the community, we remind you that cryptocurrencies are volatile by nature, and timing is everything.

However, trying to time the crypto market is a high-risk endeavor that may or may not pay off. Do your own research before investing in any project.

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