Some Traders Back Slothana to Be the Next Bonk After Raising Over $10M

Some Traders Back Slothana to Be the Next Bonk After Raising Over $10M

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Meme coin mania is back, and this time it’s Slothana leading the way.

This new Solana-based project has already raised over $10 million in its presale – leaving traders buzzing that Slothana (SLOTH) could potentially replicate BONK’s incredible run from late 2023.

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Slothana Sparks Meme Mania with $420M Market Cap Goal

Slothana is tapping into two things the crypto world can’t seem to get enough of – meme coins and playful mascots.

The project’s SLOTH token features a chill, red-eyed sloth character that pays homage to the 4/20 stoner holiday.

Despite having zero utility, Slothana has quickly built an active community getting hyped for the presale’s conclusion in the coming days.

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On Twitter, where most of the meme coin buzz happens these days, the project’s official account has racked up over 17,000 followers in just a few weeks.

Tweets from the team depicting Slothana’s mascot in various historical images are constantly generating over 100,000 impressions.

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While these memes are all good fun, Slothana is aiming high from a market cap perspective.

The developers have set an ambitious target of $420 million for SLOTH – a figure that would put it in the top 15 biggest meme coins if achieved.

Whether SLOTH meets this goal or not, the presale traction indicates that it could be gearing up to make its mark on the meme coin space once launched.

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$10M Presale Haul Sets Stage for Slothana’s DEX Debut

The buzz around SLOTH is growing louder thanks to the success of its ongoing presale phase.

For those looking to get in early, the entry price is set at 1 SOL for 10,000 SLOTH tokens.

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Not bad considering the team’s lofty market cap goal of $420 million would theoretically value each SLOTH around $0.0021 if achieved.

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Within just three weeks, the Slothana presale has raised over $10 million worth of SOL from contributors.

Once the presale ends, Slothana’s team says they plan to pursue listings on multiple DEXs, including Raydium.

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The team also hasn’t ruled out chasing major CEX listings either, which would further propel hype around this simple (but infectious) meme coin.

Although seeing a new meme coin with no use case raise such a massive amount of money might concern crypto purists, it isn’t unusual in the crypto market’s current speculative phase.

Can Slothana Replicate BONK’s Explosive Rise to $2.4B?

So, can Slothana realistically become the next BONK-style success story on Solana?

History would suggest not to rule it out.

While BONK’s rise from obscurity to a $2.4 billion market cap seems crazy in hindsight, it showed the incredible power of speculative meme coins when hype goes into overdrive.

And like SLOTH, BONK offered zero utility beyond memes and good vibes.

The fact that Slothana has already raised over $10 million for essentially a joke coin with a sloth mascot demonstrates the demand for new animal-themed tokens on Solana.

Combine that with the backing from influencers like Austin Hilton, and SLOTH has all the ingredients.

Of course, the odds of Slothana actually replicating BONK’s 15,000%+ gains from late 2023 are slim.

But in this market environment, it’s now easier than ever for small tokens like SLOTH to capture the imagination of meme coin enthusiasts looking for the next big play.

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