Solana Meme Slothana Raises $10 Million in ICO Surge

April 9, 2024
·
2 min read

This is a Crypto Brand Press post. Brand Press is a paid service for brands that want to reach Techpoint Africa’s audience directly. Techpoint Africa’s editorial team doesn’t write Brand Press content. To promote your brand via Brand Press, please email business@techpoint.africa

Solana meme coin Slothana raises $10 million in ICO, aiming to capitalize on meme coin craze sparked by Bitcoin halving.

Slothana, a newly introduced meme token residing on the Solana blockchain, has garnered significant attention by raising $10 million within a short span of two weeks through its Initial Coin Offering (ICO).

The surge in funding coincides with a broader market rally among Solana meme coins, driven by anticipation surrounding Bitcoin's upcoming halving event. 

Solana, known for its high-speed Layer 1 blockchain, has emerged as a competitive alternative to Ethereum for meme coin projects.

Investors have shown considerable interest in Slothana's ICO, aiming to capitalise on potential gains similar to established Solana meme tokens like Slerf, DogWifHat and Bonk. 

PURCHASE $SLOTH USING PHANTOM WALLET

Slothana's persona, representing a leisurely character existing within the blockchain realm, has resonated with investors despite its seemingly laid-back demeanour.

However, achieving the speculated market cap of $420 million presents a formidable challenge for Slothana. At the current pace of demand, it would take approximately 84 weeks for Slothana to attain such a valuation, rendering it unattainable within the timeframe of a single ICO.

Despite the optimism surrounding Slothana's ICO, the cryptocurrency industry awaits potential catalysts in the coming weeks. The impending Bitcoin halving scheduled for April 19, 2024, historically precedes bullish trends, driven by heightened demand. 

Additionally, the Securities and Exchange Commission's (SEC) verdict on spot Ethereum Non-Fungible Tokens (NFTs) on 23 May 2024, could potentially influence market sentiment.

Speculations suggest a lineage connection between Slothana and the team behind Smog ($SMOG), a meme coin that witnessed significant price appreciation post-listing. Investors cautiously anticipate a similar trajectory for $SLOTH following its listing, although launch dates remain undisclosed.

BUY 10,000 $SLOTH WITH ONLY 1 SOL

In related news, Solana briefly crossed the $200 mark, reflecting its growing prominence within the cryptocurrency ecosystem. However, despite a temporary dip to around $181 currently, Solana's ecosystem continues to witness robust activity, driven by airdrops and memecoin speculation.

The steady growth of Solana's decentralised finance (DeFi) protocols and increasing stablecoin volume underscore the network's significance. Institutional interest, exemplified by Grayscale's Solana Trust, further solidifies Solana's position in the crypto market.

Secure your $SLOTH tokens before launch by contributing SOL to the contribution widget on the Slothana website.

This article is a Brand Press post. Brand Press is a paid service for brands that want to reach Techpoint Africa’s audience directly. Techpoint Africa’s editorial team doesn’t write Brand Press content. To promote your brand via Brand Press, please email business@techpoint.africa

This Brand Press article was not written by Techpoint Africa’s editorial team. To promote your brand via Brand Press, please email business@techpoint.africa.
Subscribe To Techpoint Digest
Join thousands of subscribers to receive our fun week-daily 5-minute roundup of happenings in African and global tech, directly in your inbox, hours before everyone else.
This is A daily 5-minute roundup of happenings in African and global tech, sent directly to your email inbox, between 5 a.m. and 7 a.m (WAT) every week day! 
Digest Subscription

Give it a try, you can unsubscribe anytime. Privacy Policy.

This Brand Press article was not written by Techpoint Africa’s editorial team. To promote your brand via Brand Press, please email business@techpoint.africa.

Other Stories

43b, Emina Cres, Allen, Ikeja.

 Techpremier Media Limited. All rights reserved
magnifier