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The SLERF price plunged 6% in the last 24 hours to trade at $0.8232 as of 4.20 a.m. EST on trading volume that plummeted 18% to $1.5 billion.
The Solana-based meme coin has only been trading for two days after getting off to a bad start when its developer said it had accidentally burned $10 million worth of pre-sale tokens
I initially tried to burn the LP using solana tools vercel and it wouldnt go through. So I went to sol incen and was clearing out the shitcoins people sent to the wallet and accidently burned them with the pile of other coins.
— Slerf (@Slerfsol) March 18, 2024
Despite the mishap, investors and traders actively engaged with the meme coin after it found its way onto Solana-based exchanges Jupiter and Orca. And on March 18, LBank announced its intention to list the new cryptocurrency.
Its market capitalization has since soared to more than $400 million and the token is up 26% since launch.
SLERF Price Prognosis
SLERF’s price post-launch saw a minor correction, followed by the surge on the second day of the token being live, only for it to correct once again and find a support at $0.84. In the last 12 hours or so, however, the price has been relatively stable, with rather small fluctuations compared to the first two days of the token being live.
With no more fundamental factors directly affecting it, traders are looking into technical indicators to try and determine what is coming next. For example, the token’s Bollinger bands have seen strong narrowing over the last day, which is a bearish signal.
However, the bands are showing hints of widening again, which could be a hint that the price will see a recovery in hours to come.
This is backed by the token’s Relative Strength Index (RSI) value, which previously dropped from the overbought zone to a more neutral area, only to start to increase once again. This suggests that traders have started buying SLERF again, and that the price is about to surge as a result of growing demand.
As such, its first great obstacle lies at $0.90, but if SLERF manages to build up enough momentum to breach this level, there will be nothing stopping it from returning to $1 once more.
Promising Alternatives to SLERF
While SLERF captured the attention of the market in a big way, opportunity seekers are always on the lookout for hidden gems in the crypto sector, one of which analysts say is 5thScape (5SCAPE). This is a brand new project currently holding a presale, which aims to act as the gateway to the “next big thing of the decade.”
Guys I fucked up. I burned the LP and the tokens that were set aside for the airdrop.
Mint authority is already revoked so I can not mint them.
There is nothing I can do to fix this.
I am so fucking sorry.
— Slerf (@Slerfsol) March 18, 2024
Essentially, this is the world’s first AR & VR crypto ecosystem that wants to connect the smartest minds together and allow them to explore the VR and AR world. The project believes that the world of VR holds infinite potential and that it can provide immersive experiences that can redefine boundaries and shape the future of entertainment and education alike.
According to its website, it encompasses VR gaming, VR movies, VR education, and more. As for its presale, it has seen quite a lot of popularity itself, raising over $1.6 million in just days, all while selling 5SCAPE for only $0.00215 per token.
Crypto analyst and YouTuber Michael Wrubel is bullish on the token and says it might be the next Sandbox with the potential to explode on launch by up to 200X.
The token’s headed for a 15% price rise in 2.5 days, so interested buyers should act soon to secure their purchases. With a listing price set at $0.01, buying now locks in gains of 365% by the time of launch.
You can purchase 5SCAPE in exchange for ETH, MATIC, BNB, or USDT, or buy it directly with your credit or debit card.
Visit the 5SCAPE presale and buy the token here.
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