Another token on Solana has emerged, and it surged 1335% right at the opening.

Kabir903

They're shouting like this:

"No project party, no pre-sale, no insider trading, the pool is burned, permissions have been abandoned, and the base pool has 50,000 SOL. Let's send it to the moon!"

Which token are they talking about?
Well, previously, on the SOL chain, the Meme project SLERF raised over 50,000 SOL.

Did those SOL go into the founder's pocket? No!
The Twitter account @lerfsol posted that, due to an error, LP and airdrop reserved tokens were destroyed, and the minting authority has been revoked, claiming he was powerless. "I initially tried to burn LP using the Solana tool Vercel, but it failed. So I went to Sol Incen to clean up the trash coins people sent to wallets, and accidentally burned them along with a bunch of other coins."

What does this mean?
This project raised a total of 50,000 SOL, intending to allocate 500 million coins out of a total of 1 billion for LP and distribute the remaining 500 million to investors. However, the founder paired the 50,000 SOL with 500 million project tokens SLERF for LP, then accidentally burned the 500 million SLERF tokens meant for distribution to investors.

This means investors are in trouble, not getting their tokens. Sell pressure is gone.

With this news, the token with the code "SLERF" has quickly reached a market cap of 150 million, which is quite remarkable for a newcomer.

SLERF Token Address: 7BgBvyjrZX1YKz4oh9mjb8ZScatkkwb8DzFx7LoiVkM3!
According to dexscreener.com data, as of the time of writing, it has risen by 1296% since opening.

Currently, the entire crypto community is confused, and the SLERF founding team and investors are in chaos.

A tweet from KOL @BTCdayu might vividly illustrate the current situation of SLERF: "The coin is skyrocketing, people are rushing to bots to death, the founders are crying over there, the audience is cursing, and offline they want to 'destroy' the founder... When I saw it, it was already very high, I can only say good news for Solana, instant deflation."

Can SLERF replicate the legend of its predecessor BOME?

As for whether SLERF can perform miracles, well, information shows that scientists have already made a fortune, with some users earning $3 million in just 10 minutes.

Iti9

The opening also brought about some changes directly.

Jafar224

It's still necessary to choose a reliable wallet for trading.

Isha000

It seems quite impressive as well.