What’s SLERF? Solana Meme Coin Flies as Developer Loses $10 Million in Presale Funds

SLERF’s launch got here on the again of an ongoing narrative that has seen builders elevating hundreds of thousands of {dollars}, often in SOL tokens, on the promise of a meme coin airdrop. Some on-chain watchers estimate that over $100 million value of tokens have been despatched to such presales over the weekend. The frenzy contributed towards the SOL value crossing $200 for the primary time since November 2021.