Memecoins
Slothana Reaches ATH, Shiba Inu Bullish, Sealana Raises $500,000
It’s been a great few days for meme coin investors.
The sloth-themed Slothana token just hit a new all-time high less than two weeks after its debut on DEX.
The OG Shiba Inu dog coin also appears bullish, while newcomer Sealana has raised over $500,000 in pre-sale funds ahead of its stock market launch.
Slothana hits record highs as demand from retailers surges
Slothana (SLOTH) is currently one of the most discussed meme coins in the Solana ecosystem.
Since listing on Raydium, the SLOTH token has surged 245% to hit a new all-time high of $0.042.
The market capitalization of SLOTH it also surpassed $84 million – superior to established joke coins such as Snek (SNEK) and Grok (GROK).
This stunning rally appears to be fueled by several positive developments that occurred simultaneously.
First, SLOTH was listed on major crypto data trackers such as CoinMarketCap and CoinGecko, significantly increasing the token’s visibility.
Secondly, the development team relinquished ownership of SLOTH’s smart contract and bring the entire supply of tokens to market.
Finally, the Slothana team also announced a burn mechanism designed to increase scarcity (and potentially price).
These three bullish events in quick succession led to a surge in demand from retail investors.
And with the token now listed on several CEXs, including Poloniex and XT.com, LAZINESS it may be poised to reach even greater heights in the coming weeks.
Shiba Inu joins the rally with an 8% increase.
The upside isn’t just isolated to Slothana.
The OG Shiba Inu dog token (SHIB) is also getting in on the action and has surged in recent hours.
SHIB is up about 8% since this morning, settling at $0.0000233.
This rebound helped the token erase all the losses it incurred over the weekend.
Supporting recovery, 24-hour trading volumes for SHIB have increased dramatically by 144% at $453 million, according to CoinMarketCap data.
This volume spike makes SHIB the third most traded meme coin globally.
While no clear fundamental catalyst appears to be driving SHIB’s surge, the momentum may simply come from the token rejecting key support around $0.0000215.
This support level has held several times over the past month, so its rebound appears to have been a signal for traders to open long positions.
Regardless of the reason, SHIB’s army of supporters are probably breathing a sigh of relief after a particularly volatile few days.
Sealana presale surpasses $500,000 milestone as token aims to become the next meme coin star
Sealana (SEAL)a new seal-themed token on Solana, is also making waves.
Its pre-sale went swimmingly, surpassing the $500,000 funding milestone over the weekend.
For those who don’t know, a pre-sale is essentially a crowdfunding round that occurs before a token is listed on exchanges.
In the case of Sealana, its pre-sale struck a chord with the “degen” audience.
Traders can get SEAL tokens for $0.022.
Purchases are accepted using ETH, USDT or credit/debit card via the Sealana website.
Given the recent success of meme coins featuring hilarious (and pointless) mascots, early proponents hope SEAL follows a similar trajectory.
In fact, YouTuber My Financial Friend even said he believes in SEAL could 10 times in value when it hits the open market.
Sealana’s social media channels have also seen an increase in activity.
That of the project Twitter AND Telegram followers are growing exponentially as the buzz around the SEALs intensifies.
Parallels are also drawn between Sealana and the previously mentioned Slothana token.
Both have a similar agenda and focus on growing the community organically through memes before potentially adding use cases later.
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