Summary
TLDR: Due to operational oversight, Slerf meme coin lost all liquidity and airdrop tokens, resulting in $10 million loss. Token price rose by 745% post-disaster. Trader made $3 million in 12 minutes by trading Slerf tokens. Crypto community criticizes Slerf’s management and investors’ gullibility. $100 million invested in Solana meme coins in two days, sparking concerns over ethical and financial stability. Critics warn of risks involved in meme coin presales, urging investors to research thoroughly.
Key Points
1. Slerf, a Solana-based meme coin venture, disclosed the unintended destruction of all its liquidity and airdrop tokens, resulting in over $10 million in losses from the pre-sale.
2. Despite the financial catastrophe, Slerf’s token price has soared by 745% since its launch, leading to a trader earning over $3 million in just 12 minutes by trading Slerf tokens.
3. The debacle has highlighted the frenetic speculation surrounding meme coin presales, with around $100 million invested in new Solana meme coins in just the last two days, sparking debates on the ethical and financial stability of meme coin presales.