Solana’s meme coin space is heating up again after Plerf (PLERF) surged over 100% in just 24 hours.
This exponential rise has caught the attention of retail investors, many of whom are now speculating whether lightning can strike twice.
Some investors are turning to the upcoming Slothana (SLOTH) meme coin project – believing it has the potential for an explosive rally once its presale ends.
PLERF Rallies on Solana as Spot Volumes Surge 21,000%
It seems like every week brings a new trending meme coin, but PLERF has managed to stand out.
With no utility, PLERF’s main goal is to celebrate SLERF (SLERF) – the sloth-themed token that exploded just two weeks ago.
PLERF debuted on the Raydium DEX on March 20, and its price trajectory has been nothing short of a rollercoaster ride since then.
The token has experienced multiple spikes and sell-offs over the past 14 days as speculation led to volatile trading conditions.
But yesterday afternoon, PLERF shifted into overdrive, smashing its previous all-time high to reach $0.0059.
The numbers are even more staggering – PLERF’s spot trading volumes rocketed over 21,000% to $4.1 million as investors piled in.
While some have likely realized profits, many are holding their PLERF tokens in the hope that the price can rise even more.
Solana Blockchain Fuels Explosive Rises of WIF, BONK, & Others
PLERF’s explosive rise is just the latest in a string of Solana-based meme coins grabbing attention.
One of the biggest success stories has been dogwifhat (WIF).
This meme coin passed a $4.2 billion market cap at its peak, flipping Pepe (PEPE) to become the world’s third-largest meme coin.
WIF saw a quadruple-digit price spike after it hit the mainstream – and the token’s community even raised enough funds to advertise it on the Las Vegas Sphere.
Then there’s Bonk (BONK), the first Solana-based token to truly go viral.
BONK’s explosive rise was fueled by clever marketing tactics and listings on Tier-1 exchanges like Binance.
This meme craze has also extended to presale launches.
For example, the Pundu (PUNDU) token raised an incredible $97.6 million in just 36 hours from investors looking to get in early.
While not every Solana meme coin has been a success, these examples highlight the growing appetite for fun-focused projects hosted on non-Ethereum blockchains.
Can Slothana Token Become the Next Meme Coin Star on Solana?
With PLERF’s rise putting Solana meme coins back in the spotlight, all eyes are now turning to Slothana, a new project that many believe could be the next to explode.
Themed around an office sloth character dreaming of crypto riches, Slothana has quickly caught the attention of meme coin investors.
The relatable concept of escaping the 9-5 grind has struck a chord, with SLOTH’s presale raising an impressive $6.9 million in just over a week.
This hype is undeniable – over 9,300 people have opted to follow Slothana’s Twitter account.
A YouTube shoutout from influencer TodayTrader, whose video racked up 47,000 views in just three days, helped fuel the viral appeal even more.
Naturally, much of Slothana’s appeal stems from it being hosted on the Solana blockchain.
But given the success of other Solana-based meme coins, this could be enough to propel SLOTH into the stratosphere.
The development team also has their finger on the pulse when it comes to what resonates with meme coin traders.
They’ve already posted a poll on Twitter to determine whether SLOTH should be listed on a DEX only or a DEX and a CEX, with the latter option receiving 77% of the votes.
If Slothana can secure a top-tier listing right after launch, it could put it on track to become the next superstar on the Solana chain.