An anonymous individual’s remarkable profit of $3.02 million within just 12 minutes has sparked a buzz in the crypto community, captivating the interest of thousands of investors. The impressive feat occurred when the person strategically invested $1.98 million to purchase 69.74 million SLERF tokens, converting them into 25,001 $SOL and generating a substantial profit.
The surge in SLERF’s price can be attributed to a significant event involving one of the developers accidentally burning $10 million worth of SOL during a token presale, resulting in the depletion of the entire liquidity pool. Despite the mishap, the developer publicly apologized and announced plans to refund participants from the initial presale. This incident inadvertently led to a surge of over 4500% in SLERF’s price, reaching $1.07 before experiencing a subsequent decline.
Although the token’s price has since fallen to $0.4179, with a trading volume of $704,516,902, SLERF has garnered significant attention and has been listed on more than ten exchanges. Whether perceived as a marketing strategy or an unintended consequence, SLERF has made a notable impact in the crypto industry, attracting both investors and scrutiny alike.