Lookonchain: Crypto Whales Purchase Millions of Sloth-Themed Meme Coins, Slerf and Slothana

Sloth meme coins are a new asset class that cryptocurrency whales want to pump. 

When Slerf surged more than 5000% in a matter of hours and had over $2 billion in trading volume, these tokens gained popularity. 

These tokens with a sloth theme are back in the spotlight due to meme coins' recent revival.

A crypto whale invested $1.5 million in Slerf, despite the fact that the new Slothana meme coin has already raised over $15 million in its soon-to-end presale. 

Crypto Whale Invests Millions in Slerf Meme Coin

According to data from Lookonchain, a crypto whale exchanged 9,453 Solana worth $1.5 million for about 3 million Slerf tokens. 

But this whale has yet to have much luck with Slerf. In his seven trades of the meme coin, he turned a profit only twice. 

On April 12th, he once sold his Slerf holdings for a loss of 5,103 SOL tokens, which were valued at roughly $934k at the $183 price of Solana at the time. The trader keeps chasing green candles despite his whale status and frequently finds himself on the wrong side of the price trend.

He bought the meme coin again on this occasion, most likely because of its increasing value. In fact, on April 23, the price of Slerf increased by 18% following the return of more than $4.5 million to the disgruntled presale holders.

For those unaware, this developer has already disclosed that he unintentionally burned over $10 million in presale proceeds and tokens reserved for the airdrop. The widespread attention that followed caused Slerf to rise in value but the presale participants received nothing.

However, the developer said they would reimburse all disappointed investors using Slerf trading fees from exchanges like HTX and LBank.

The Slerf price initially responded positively, and the aforementioned crypto whale was probably convinced to chase another green candle since over $4.5 million had already been refunded.

Still, he lost $666 SOL tokens, or $100k at an average Solana price of $150, when he sold his Slerf holdings late on Wednesday. This is because, as part of the larger crypto market meltdown, the price of Slerf fell by 7% today on Thursday.

Even though this specific whale might have lost money, the meme coin community is still very positive about Slerf and other tokens with a sloth theme. 

New _Slothana Presale Surpasses $15 Million Raised

As the next big Solana meme coin, Slothana is being viewed by astute investors as Slerf's successor, with the potential to yield 100x to 100x returns. 

This optimism is also evidenced by the rapid demand for the new meme coin immediately during its presale, with $SLOTH raising over $15 million in less than three weeks.

One of the things that has caused so much hype for it is the hilarious representation of its mascot, a bored office-going Sloth. Another is its novel presale model, which, like Slerf, enables investors to send Sol tokens straight to the project wallet. 

Well, Slerf was led by an inexperience developer of his own (more on that tomorrow), though today it comes to light that Slothana was ran by the few admins from Smog. Specifically, Smog has almost already given its early investors 27000% return of less, consequently making it one of the most high-performing meme coins in this bull run.

However, if the rumors about Slothana are true, the meme coin community is pretty pumped for it and YouTuber ClayBro insists that it could become one of if not the biggest Solana meme coin.

With the presale for the Sloth ending on April 29th, anticipation and FOMO surrounding it are now at an all-time high.