Summary
TLDR: SLERF’s launch is part of a trend where developers raise millions in SOL tokens for meme coin airdrops, with over $100 million sent to presales over the weekend. This contributed to SOL price crossing $200 for the first time since November 2021.
Key Points
1. SLERF’s launch was driven by the trend of developers raising millions of dollars in SOL tokens through meme coin airdrops.
2. Over $100 million worth of tokens were sent to presales over the weekend, contributing to the frenzy in the market.
3. The excitement around these presales helped push the price of SOL over $200 for the first time since November 2021.