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Slothana (SLOTH), the latest viral Solana meme coin, which raised $15m at presale has mooned overnight and is up over 3x from the lows in defiance of FUD levelled against the project. Now holders are asking, what is next for Slothana?
Slothana launched on Solana at the beginning of this month after an incredible $15m raise during its presale.
While it initially pumped over 100% at launch, as with most presales, there was a sell-off from early investors taking profits.
This caused a lot of fear, uncertainty and doubt (FUD), eventually leading to the value of Sloth falling below the launch price.
(SLOTHUSD)
From May 3 to May 8, the chart traded sideways between $0.006 and $0.009 before finally exploding yesterday (May 9). All the signs were there for experienced on-chain degens. While the price was crabbing, the loyal holder count was stable, and the volume didn’t dip below a daily volume of $5 million.
Solana vs Ethereum – The Flippening?
All of these things are extremely bullish when trying to guess the price action of a token. Solana meme coins have been processing the majority of the volume within crypto for a while now and is up over +17% in the past 7 days, while the Ethereum network is down +25% in that same period.
The Solana network has racked up $8.16 billion in the last week, compared to $9.9 billion for Ethereum. If things keep trending this way then it is worth keeping an eye on the price of Solana as it is heavily underpriced compared to Ethereum when taking the above into account.
The market cap for Solana is $68 billion, whereas Ethereum has a market cap of over $360 billion, and if the market realises how underpriced Solana actually is, it could be in for a parabolic move up.
DISCOVER: The Best Solana Meme Coins to Buy in May 2024
Back to Slothana – What’s Next For SLOTH?
If there is a big move-up in store for Solana, then you can expect the strongest meme coins on the network to rocket alongside it, and Sloth is likely to be one of those.
It is up over +250% from the lows and has processed over $11m in volume over the past 24 hours which is an insane amount of volume for a meme coin that is barely 1 week old and only available on DEXs.
🔥 New listing $SLOTH is coming to #Bitrue Spot. @SlothanaCoin
🔹 Deposits opened
🔹 SLOTH/USDT trading: 10:00 UTC, 10 May
🔹 ZERO trading fees for a limited time👉 Details: https://t.co/Nluya4U7sV pic.twitter.com/6HdS2hpBQQ
— Bitrue (@BitrueOfficial) May 10, 2024
Talking of exchanges, the Slothana team announced their first CEX listing, launching on the BitTrue exchange less than an hour ago.
There are constant rumours swirling about even more CEX listings being inbound for Slothana, and these rumours seem to be growing stronger by the day.
Once Sloth begins to list on more and more exchanges, the sky is the limit for the token. Even after the recent pump, the market cap for Sloth is only $47 million.
When you compare that to the market cap of DogWifHat (WIF) at $3 billion, which got to that point after CEX listings began, you can see why Sloth holders are holding out for a 100x from here!
RELATED: Less than 24 hours before WienerDog Presale Price Increases – Secure Your Bags Now!
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
