The latest rendition of the Solana presale saga, Slothana, has raised $2 million in just three days.
Such early interest resembles the impressive beginnings of other phenoms like BOME and SLERF, setting a bullish precedent for Solana’s new furry friend.
Slothana’s presale features a single-tiered pricing system, and investors send SOL to the project’s wallet address to buy
This presents a distinct outlook from most presales’ multi-tiered pricing systems and token generation events (TGEs).
Yet, this approach has captivated traders’ attention by embodying the nonchalant essence of meme coins.
Marketing Powerhouse Behind Slothana?
It is easy to consider meme coin success accidental and less sophisticated than other crypto asset classes.
But in reality, the sheer number of meme coins on the market means only the most shrewd and culturally adept survive.
An apparent example is Book of Meme. The project experienced unprecedented success recently, becoming the fastest meme coin to reach a $1 billion market cap following its presale. It achieved the feat in just two days.
BOME also quickly bagged listings on leading tier-one exchanges, including Binance. However, analysts suspect that a highly competent team was behind its success.
“You cannot tell me a 20k account did all this by himself,” alleged Lord Ashdrake.
He continued, “There has to be some sort of arrangement because those 1000 SOL buys that came in to push the price ever higher must come from somewhere.”
The analyst speculated a smart money cabal colluded to ensure Book of Meme’s triumph.
Similarly, speculation is brewing that a nifty team is powering the newest Solana sensation, Slothana.
Indeed, this would be no surprise, considering traders have sunk more than $2 million into the presale in three days. Such a total raise indicates that deep-pocketed players have strong conviction in $SLERF.
According to the rumors, the Slothana team is the same group that launched Smog.
Smog is a Solana-based meme coin that launched in February and soared 100x to over a $200 million market cap within weeks.
Considering Smog’s success, this would be massively bullish for $SLOTH if the rumors are true.
Adding to the excitement, the Smog X account was one of the first to respond to Slothana’s initial X post when it had less than 50 followers.
Slothana’s following has exploded since then, but the early interaction illustrates a likely connection.
Solana Has More Liquidity Than It Knows What To Do With
Recently, Solana has fared as a hotbed for grass-roots narratives and memetic innovation.
Two of the top three DEXs by trading volume are Solana-based, grabbing a total of 22.7% of the entire crypto market on-chain trading volume.
Meanwhile, Soalna’s TVL is exploding, currently approaching its highest-ever levels.
Adding to this, Solana meme coins hold a staggering $8 billion combined market cap.
These factors present tremendous potential for upcoming Solana-based meme coins.
On the one hand, massive value is locked into Solana smart contracts, potentially waiting to be deployed in new opportunities.
On the other, early meme coin investors are up tremendously, likely wanting to rotate their profits and compound their growth.
Given Slothana’s immense early success, this lazy meme coin looks primed to attract massive liquidity and climb higher than anyone expected.
However, with no predetermined presale hard cap on display, potential buyers should act fast to ensure they don’t miss out.
Follow Slothana’s X account to keep updated on its latest antics.
Alternatively, visit its website for the wallet address to send SOL and buy the presale.