The entire internet rallies to save Soldier Slerf, prices stage a dramatic reversal, and the narrative reaches new heights
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The entire internet rallies to save Soldier Slerf, prices stage a dramatic reversal, and the narrative reaches new heights
The pre-sale participant rescue operation has drawn attention and participation from several OGs.
Navigating Web3 tides with focused insightsText: Nan Zhi, Odaily Planet Daily
Yesterday, SLERF surged 62 times from its initial issuance price, briefly approaching a market cap of $700 million—reaching in just three hours what BOME took three days to achieve—becoming the most prominent spotlight in the market. After peaking at $1.37, SLERF began an A-top reversal, dropping as low as $0.35.
However, during daytime today, SLERF broke out of its bottom consolidation trend, surging again and reaching a new high of $1.48. Its market cap briefly surpassed that of BOME, making it the eighth-largest meme coin by market value. On-chain analytics platform DEX SCREENER showed multiple trading pools of this token occupying nearly all top spots on its trending tokens list.
Founder Launches Presale Rescue Initiative
At the beginning of the SLERF story yesterday, founder Slerf posted on X stating: "I accidentally burned the LP and airdrop-reserved tokens due to a misoperation, and the minting authority has already been revoked—I am powerless now."
Under the combined influence of narrative appeal, capital absorption capacity, token security concerns, and other factors, SLERF attracted massive inflows of capital, completing one cycle of sharp rise and fall. Yet even when prices dropped to their lows, interest in the token did not fade. The Spaces session hosted by founder Slerf drew tens of thousands of participants. Some even fabricated images claiming “the SEC established a special task force to investigate the SLERF incident,” while users on X added a “prison” concept to the token. The founder sarcastically commented, “I need a lawyer, but now $Slerf will live forever. Presalers will not be forgotten.”
At around 5 AM Beijing time today, Slerf launched a rescue initiative for presale participants. He announced on X that he would identify a trusted third party to set up a donation wallet, aiming to raise sufficient funds to fully or partially refund contributors during the presale phase. Later, Slerf announced that LBank would join as the first donor and custodian of the donation address. Users can send funds to this wallet, with proceeds designated as compensation for presale participants. So far, the address has received 2,385 SOL, along with some scattered unrelated tokens.
(Odaily note: This donation campaign is not a token presale and offers no returns or token promises. Investors should participate with caution.)
Resurgence of Hype, Support from All Corners
Beyond the founder’s own donation efforts, numerous influencers on X and several exchanges have either expressed attention or actively responded to the SLERF event.
Andrew Kang, co-founder of Mechanism Capital, posted on X: “The legendary story of Slerf is one of the dumbest yet most beautiful things I’ve seen in crypto. For this reason, I’m participating.”
Throughout the early hours today, a series of major figures including digital artist Beeple and Floor Protocol's founder continued sharing the unfolding story of SLERF.
Exchanges then took the baton starting this morning. According to Slerf’s repost timeline on X, Sun Yuchen was the first to announce that HTX would donate all trading revenue generated from SLERF. Following him, Jupiter founder meow, XT.COM, Bitget, and others also declared they would donate SLERF transaction fees to the community.
Conclusion
According to on-chain analyst ZachXBT, the latest 27 meme coin presale projects within the Solana ecosystem have collectively raised over 655,000 SOL. Many of these projects have yet to launch, and some have raised amounts far exceeding SLERF. However, in terms of narrative strength, it may be difficult for any project to surpass SLERF’s dramatic blunder. With continued storytelling momentum, SLERF still stands a chance to break past BOME’s boundaries and create another milestone.
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