PLERF price crashes 60% as Solana memecoin traders pivot to Slothana presale

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Sloth-themed tokens are the latest trend making waves in the Solana memecoin ecosystem.

A slew of sloth-themed coins started by SLERF are now poised to overtake dog-themed tokens amongst memecoin traders.

This week PLERF was the latest coin to carry the trend.

Since reaching an all-time-high of $0.0055 earlier today, the project has since crashed to $0.0014 as traders take profits and pivot to new opportunities.

Is the Slothana presale next to blow up?

Slothana is the new Sloth on the block, which is leveraging the success of memecoin presale mania in the hopes of becoming Solana’s next big thing.

The presale has already picked up more than $7 million in funding, and is believed to be led by the same team which launched the wildly successful Smog presale.

Smog is currently trading at a $285 million fully-diluted valuation and is expected to launch on a tier-1 exchange later today.

SatoshiClub's tweet about Slothana pre-sale

Twitter user SatoshiClub has joined the dots between the Smog and Slothana teams. Source: X

Presales have become the new meta for memecoin traders looking to make it big. Presales allow buyers to get in at wholesale prices which is similar to investing in an ICO before a coin is traded on the public market.

This maximizes the potential for significant gains, provided the coin does well on launch.