Solana-Based Memecoin SLERF Leads Top 10 DEX Liquidity, Despite Developer Accidentally Burning Presale Funds

SLERF was born out of a $10M token presale in March, which ended with the token's developer accidentally burning all the funds raised in the event.

SLERF, a Solana-based memecoin, has surged in popularity to become the top memecoin with the highest liquidity on decentralized exchanges (DEXs), according to a recent analysis by Lookonchain.

Despite a setback in March, where the token's developer accidentally burned all the funds raised in a $10M token presale, the token's price soared. Shortly after the incident, SLERF's market cap reached over $750 million with an intra-day jump of 414.3%.

SLERF Leads Top 10 Memes Coins DEX Liquidity

According to the analysis conducted by Lookonchain on September 7, SLERF has surpassed popular tokens like dogwifhat (WIF), FLOKI, and POPCAT to become the top memecoin with the highest liquidity on DEX.

SLERF's liquidity on DEX is reported to be $46 million, significantly higher compared to WIF's $21 million, which ranks the token at position seven out of the top ten memecoins. FLOKI and POPCAT follow closely, claiming positions five and nine with a DEX liquidity of $29 million and $15 million, respectively, while PEPE secures third place with $36 million.

When considering market capitalization, PEPE leads all the memecoins on the list with an impressive $2.7 billion, followed by WIF and FLOKI at $1.47 billion and $1.12 billion, respectively.

Other notable memecoins that made an appearance in Lookonchain's analysis include BOOK OF MEME (BOME), MEW, BabyDoge, and WHY, which had a DEX liquidity of $37 million, $30 million, $17 million, and $16 million, respectively. Simons Cat (CAT) concludes the list with a DEX liquidity of $14 million.

This recent development highlights the ever-changing landscape of the crypto market, where memecoins continue to gain attention and liquidity.

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