Solana’s Fully Baked New Meme Coin Slothana ($SLOTH) Rises 107% in 24 Hours, Hits New ATH After Burn Mechanism Announcement
Friday, May 10, 2024 – Presale and early investors are now celebrating blistering returns for Solana’s hottest new pothead meme coin, Slothana. The $SLOTH token has risen 107% in the last 24 hours to hit an all-time high of $0.032, according to data by DexTools.
$SLOTH went live at the beginning of the month after raising an eye-watering $15 million in a month-long presale that ended in April. It hit the market after tokens were airdropped to purchasers on Wednesday.
Today, the meme coin is pumping hard. The buying momentum appears to be driven by a steady string of developments this week.
On Wednesday, the token airdrop concluded and $SLOTH hit the Solana-based decentralized exchange (DEX), Raydium. The team also announced through its X account that it submitted applications for listing on the two most popular crypto aggregators: CoinMarketCap and CoinGecko, a clear nod to the project’s market-capturing ambition.
On Thursday, the team announced it has now renounced all control of the $SLOTH smart contract. That means all tokens are now in circulation.
Finally, today, the Slothana team revealed a new burn mechanism, whereby every time the price of $SLOTH increases by a cent, a corresponding number of dollars worth of tokens (multiplied by a million) will get burnt. If that sounds confusing, it really isn’t. Just look at the tweet:
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