After the developer accidentally burned $10 million in pre-sale funds, SLERF's market value reached $505 million, an increase of 52%

The SLERF price has skyrocketed 52% in the past 24 hours to $0.9422 as of 3:30 AM EST. This comes after the developers accidentally burned $10 million in pre-sale funds, making SLERF the newest memecoin in the Solana ecosystem with over $3.2 billion in trading volume and a market cap of $505 million. Although the project attracted thousands of unique addresses holding the token within hours of listing, hitting an all-time high of $1.37, this all happened after a very unusual market entry. The developers said that $10 million worth of pre-sale tokens were sent to a burn address that no one controls and cannot be recovered. Despite this mistake, investors and traders are still actively involved in the memecoin as it has been listed on Solana's Jupiter and Orca exchanges. In recent days, Solana's memecoin pre-sale has been flooded with money, just through the post of X. Some on-chain analysts estimate that over $100 million worth of SOL tokens were sent to various memecoin pre-sales over the past weekend. ICO projects outside the Solana ecosystem are also booming, with the crypto community trying to find the next BOME or SLERF. In recent days, a project called Dogecoin20 has attracted attention, attracting more than $2.8 million in funds in just a few days.