SLERF Crypto Bull Run, registers 40% Amid Binance’s Extended Support
- SLERF crypto is a Solana-based that is designed to bring humour and excitement into the Solana ecosystem.
- SLERF crypto on 21 November was trending hot with a gain of over 42.86%, according to CoinMarketCap.
- As a result, the global crypto market cap stood at $3.21 trillion, witnessing a 3.32% increase over the last day.
The meme coin craze is on the bull run as Slerf (SLERF) crypto is a Solana-based that is designed to bring humour and excitement into the Solana ecosystem. The second-most popular ecosystem following Ethereum, the Solana ecosystem is host blockchain of several mem coins, which have not only gained a cult, but carved out a niche in the world.
The SLERF crypto on 21 November was one of the most profitable crypto of the day, witnessing gains of over 42.86%, according to CoinMarketCap. As a result, the global crypto market cap stood at $3.21 trillion, witnessing a 3.32% increase over the last day.
What is SLERF crypto?
SLERF’s appeal lies primarily in trading and speculation. As a meme coin, it thrives on its community’s support and the viral charm of its sloth mascot. While it doesn’t claim to revolutionize finance, its Solana-based exchanges like Jupiter and Orca have seen significant trading volume, thanks to SLERF’s rising popularity.
During its launch, a technical error resulted in $10 million worth of tokens being accidentally burned — a mishap that turned into a marketing goldmine. This “happy accident” sparked massive community interest, propelling SLERF to a stunning market cap of $750 million, making it the fourth-largest meme coin on Solana.
What’s the reason for the token’s momentum?
The SLERF token is rising on the back of a Binance announcement announcing the launch of the SLERFUSDT (USD-Margined) perpetual contract today at 11:30 UTC. This has sparked a SLERF price rally recently, indicating the growing market confidence.
Further, the leading crypto exchange set the capped funding rate for the token at +2.00% / -2.00%. Also, the tick size for the crypto was 0.0001, per the announcement. Notably, the underlying asset remains the abovementioned Solana meme coin, SLERF.
What do SLERF’s chart say?
SLERF’s meteoric rise and strong community backing hint at its potential to become a mainstay in the meme coin universe. A look at the token’s charts indicates the token rising its head following a bull market run.
The RSI of the token is 67, indicating the buyers are on the spending spree. The token has amassed over 140% in the past 14 days and 50% over the past week, according to CoinGecko.
Image Credit: Trading View
The MACD histogram also indicated movement in the token and there is enough momentum and interest in the token for it to sustain.
SLERF’s momentum gains showcase the power of community-driven tokens and the unpredictable nature of meme coins. As of 11 November, the token was trading at $0.399025 with a 24-hour trading volume of $28,27,93,249, according to CoinMarketCap.
