SLERF’s launch came on the back of an ongoing narrative that has seen developers raising millions of dollars, usually in SOL tokens, on the promise of a meme coin airdrop. Some on-chain watchers estimate that over $100 million worth of tokens were sent to such presales over the weekend. The frenzy contributed toward the SOL price crossing $200 for the first time since November 2021.
Source: https://www.coindesk.com/markets/2024/03/18/solana-meme-slerf-notches-17b-in-volume-after-developer-loses-all-presale-funds/?utm_medium=referral&utm_source=rss&utm_campaign=headlines