How did the SLERF memecoin manage to recover after the great chaos caused by Devs and the great drop of more than 80% in the price of the token?
What was the reason for the confusion that triggered chaos in the token?
SLERF was born after a token pre-sale, during which it raised $10 million from users. It quickly went viral on social platform
That did nothing to prevent a frenzied market from buying and trading tokens. SLERF finally came out on Solana-based CEXs, including Jupiter and Orca, and several exchanges rushed to list it, driving the price up to $1.6 within a few hours from an initial value of around 3 cents.
Achieving a MarketCap of more than 500 million dollars in just 3 hours, but the price of the token fell sharply again to $0.3.
How did the SLERF memecoins manage to recover so quickly?
The Devs of SLERF in an attempt to recover the money burned, to complete their pre-sale participants have requested donations from the Solana community.
Immediately, several LBank exchanges, Bitget, HTX, Jupiter, and Justinsun, responded to the SLERF team's donation request, and committed to the effort by pledging SLERF trading fees to a donation address.
Slerf reported that the LBank exchange will be the custodian of the donation wallet, in charge of collecting and distributing the airdrop for all participants in the pre-sale of the SLERF token
“LBank, as the first donor, will act as custodian of the donation address.”
