![What is SLERF? Solana Meme Coin Flies as Developer Loses SLERF trading activity. (Birdeye)](https://btcusa.com/wp-content/uploads/2024/03/What-is-SLERF-Solana-Meme-Coin-Flies-as-Developer-Loses.jfif-678x381.jpeg)
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SLERF’s launch came on the back of an ongoing narrative that has seen developers raising millions of dollars, usually in SOL tokens, on the promise of a meme coin airdrop. Some on-chain watchers estimate that over $100 million worth of tokens were sent to such presales over the weekend. The frenzy contributed toward the SOL price crossing $200 for the first time since November 2021.
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