People have gotten really into <button class="define-target" id="memecoin">memecoin</button> trading on Solana recently. Like <i>really</i> into it. Someone decided they'd hop on the bandwagon with "Slerf", a sloth-themed memecoin they said would launch with a 50% presale.<p>Thanks to the aforementioned frenzy, the project managed to raise $10&nbsp;million in the presale. However, things went sideways when the developer accidentally <button class="define-target" id="burn">burned</button> the $10&nbsp;million by sending them to an address where they would be permanently inaccessible. "oh fuck", the developer wrote ominously on Twitter, before explaining their mistake.</p><p>Some speculated that the screwup may have been a marketing ploy, in which case it was very successful, because the token went on to post more than $2.7&nbsp;billion in trading volume over a 24-hour period — more than the entire ETH trading volume in that period. The monumental error by the developers seemed to have no damper on the overall frenzy around memecoins, or even produced the opposite effect.</p><p>Surely this trend won't end badly.</p>

"Solana Meme Coin Slerf Clocks Higher Trading Volume Than All of Ethereum"

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