Crypto Whales are Accumulating This New Solana Meme Coin Before it Lists on Exchanges – What Do They Know?
Meme coin stans are stacking Slothana (SLOTH), Solana’s sensational new 420-friendly token, ahead of Bitcoin’s halving and international stoner day on April 20.
Slothana the new red-eyed sloth lives on Solana.
The $SLOTH ICO has only been going for three weeks and it has already raised an eye-watering $10 million,
The news comes after established Solana meme coins like Slerf, DogWifHat and Bonk have followed (and on some days, outpaced) market leaders Bitcoin and Ethereum in small market-wide rallies off ahead of Bitcoin‘s (BTC) halving next week.
Ethereum’s high-functionality smart contracts made it the network of choice for meme coin projects for a long time. However, with the expansion and development of so-called “Ethereum killer” Solana, the high-speed Layer 1 blockchain has challenged Ethereum’s dominance in this sector.
Slothana isn’t lazy, although he certainly appears that way. High on ambition (and surreptitious toking), he’s eyeing the clock hands, waiting for 4:20.
From then on, he believes it’ll be a short journey to $420 million.
If Slothana can raise over $10 million in two weeks, it would take him 84 weeks at current levels of demand to reach a $420 million market cap. Given the fact that presales don’t last forever, it’s impossible for him to get there over the course of one ICO.
However, a couple of price-driving narratives will move the entire market in the coming weeks. As traders begin to take a risk-off approach, meme coins will get a look-in (they always do!), and this time Solana’s offerings could really leave Ethereum in the dust.
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