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The latest crypto craze is unleashed by Slothana – a Solana-based meme coin themed around an ‘office sloth’. Like most of the crypto community, Slothana is burnt out from the 9-5 routine and is thinking of diving into crypto trading.
Slothana has raised $2M in less than a week of launching its presale. The unique presale model became an instant sensation for its simplicity. It opens doors to traditional investors as well who are looking to onboard the meme coin mania, inspired by the recent success of projects like $SLERF and $BOME.
Why is $SLOTH trending?
Multiple factors contribute to $SLOTH’s growing virality across social media platforms.
To begin with, Slothana has launched a radically new model of presale that is simple and straightforward. Investors just need to send SOL to the address mentioned on the website to receive SLOTH tokens after the presale. No white lists, no waiting lists, and no technical complications. The presale lowers the technical and financial barriers to early crypto investment.
To further simplify the process, the project features a ‘BUY’ button on the website now. It guides investors through the purchase.
1 SOL gets investors 10,000 $SLOTH in the current presale stage. The attractive exchange rate expedites the presale traffic.
By opting to build its foundation on Solana, Slothana takes advantage of its fast and low-cost transactions. In addition, Solana meme coins have emerged as a viral crypto niche this year with the success of Bonk and Dogwifhat.
The latest examples are Smog, Book of Meme, and Slerf. Social media rumors that Slothana is launched by the team behind SMOG, which jumped up to 75X on its launch, add to the craze.
Within 24 hours of launching the presale, Slothana raised over $650K. It speaks for its strong community support. That, in turn, translates to high upside potential as meme coins heavily rely on community support for price action.
If the momentum is maintained, Slothana has the potential to make a grand debut on popular crypto exchanges in the coming days. The upcoming Bitcoin halving and Dogecoin Day on April 20th, in particular, are expected to catalyze the meme coin’s virality.
Funny and relatable, liquidity provision, and strong community support
In the meme coin market, humor and trends prevail over utility. Here, creativity is rewarded more than technical innovation. Meme coins that feature quirky and relatable themes have a history of going viral and generating multifold returns for strategic investors in the market.
Throwing all traditional investment criteria out of the window, meme coins rule the crypto market now with their volatility and multifold surges. Slothana is the latest to join the list. It checks all the boxes, from the relatable theme to fair liquidity provision and community support.
Slothana represents most of the crypto community that is looking for its way out of the daily 9-5 grind. The theme, being relatable, has catalyzed the presale traffic. Being highly volatile, it’s important for meme coins to create relatability with the community. A solid community lays the foundation for expansion, as seen in the case of projects like Shiba Inu which later ventured into gaming.
$SLOTH follows the success of $SLERF and $BOME
The success of Solana-based projects like SLERF and BOME has paved the path for SLOTH’s growing popularity.
For example, $SLERF climbed to a $750M market cap within a few hours of its launch. In fact, the 24-hour trading volume of the meme coin surged close to $2.5B on day 1. $BOME (Book of Meme) is another hot meme coin sensation of March. The experimental project boasts a $690M market cap now.
While both $SLERF and $BOME are on a decline now, they went on to prove the unparalleled volatility of the meme coin market. Despite their erratic price action, meme coins are highly rewarding for strategic investors who make timely entries and exits. One of the popular strategies to limit risk on meme coin investments is to purchase them early at low costs, ideally during the presale stage.
That explains the growing traffic to the $SLOTH presale, which features an attractive exchange rate of 1 SOL for 10,000 SLOTH. The rumored connection with SMOG also lends credibility to the project and raises expectations for its upcoming price action.
Limited presale window: How to buy $SLOTH before it’s too late?
To buy $SLOTH, investors need a Solana-compatible wallet like Phantom Wallet, Solflare Wallet, Coinbase Wallet, or Trust Wallet. Once the wallet is set up, the next step is to load it up with enough SOL, which is available for purchase on leading crypto exchanges.
Now you need to send SOL to the Slothana address given on the website. Double-check the address before confirming the transaction. But for even lazier sloths, the project has activated a ‘Buy Now’ widget on the website, which simplifies the process.
Once the Slothana presale concludes, SLOTH tokens will be distributed to presale participants.
Vladislav Sopov
Dan Burgin
U.Today Editorial Team