{"id":3424,"date":"2024-05-10T22:14:02","date_gmt":"2024-05-10T22:14:02","guid":{"rendered":"https:\/\/solanacrypto.news\/2024\/05\/10\/solanas-fully-baked-new-meme-coin-slothana-sloth-soars-107-in-24-hours-to-hit-new-ath-after-burn-mechanism-announcement\/"},"modified":"2024-05-10T22:14:02","modified_gmt":"2024-05-10T22:14:02","slug":"solanas-fully-baked-new-meme-coin-slothana-sloth-soars-107-in-24-hours-to-hit-new-ath-after-burn-mechanism-announcement","status":"publish","type":"post","link":"https:\/\/solanacrypto.news\/2024\/05\/10\/solanas-fully-baked-new-meme-coin-slothana-sloth-soars-107-in-24-hours-to-hit-new-ath-after-burn-mechanism-announcement\/","title":{"rendered":"Solana\u2019s Fully Baked New Meme Coin Slothana ($SLOTH) Soars 107% In 24 Hours To Hit New ATH After Burn Mechanism Announcement"},"content":{"rendered":"
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Presale and early investors are now celebrating blistering returns for Solana\u2019s hottest new pothead meme coin, Slothana. The $SLOTH token has risen 107% in the last 24 hours to hit an all-time high of $0.032, according to data<\/a> by DexTools.\u00a0<\/p>\n\n\n\n\n\n

$SLOTH went live at the beginning of the month after raising an eye-watering $15 million in a month-long presale that ended in April. It hit the market after tokens were airdropped to purchasers on Wednesday.\u00a0<\/p>\n\n\n\n

Today, the meme coin is pumping hard. The buying momentum appears to be driven by a steady string of developments this week.\u00a0<\/p>\n\n\n\n

On Wednesday, the token airdrop concluded and $SLOTH hit the Solana-based decentralized exchange (DEX), Raydium. The team also announced through its X account that it submitted applications for listing on the two most popular crypto aggregators: CoinMarketCap and CoinGecko, a clear nod to the project\u2019s market-capturing ambition.\u00a0<\/p>\n\n\n\n

On Thursday, the team announced<\/a> it has now renounced all control of the $SLOTH smart contract. That means all tokens are now in circulation.\u00a0<\/p>\n\n\n\n

Finally, today, the Slothana team revealed a new burn mechanism, whereby every time the price of $SLOTH increases by a cent, a corresponding number of dollars worth of tokens (multiplied by a million) will get burnt. If that sounds confusing, it really isn\u2019t. Just look at the tweet:\u00a0<\/p>\n

\ud83d\udd25\ud83c\udf32\ud83e\udda5 Slothana tokens are at risk of going up in smoke! As the $SLOTH<\/a> price climbs, the forest fires rage quicker, turning $SLOTH<\/a> tokens to ashes. <\/p>

\ud83d\udcc8 $0.03 = $3m $SLOTH<\/a> burnt \ud83d\udd25\ud83d\udcc8 $0.04 = $4m $SLOTH<\/a> burnt total \ud83d\udd25\ud83d\udcc8 $0.05 = $5m $SLOTH<\/a> burnt total \ud83d\udd25\ud83d\udcc8 $0.06 = $6m $SLOTH<\/a>\u2026 pic.twitter.com\/xdhd69JD55<\/a><\/p>\u2014 Slothana (@SlothanaCoin) May 10, 2024<\/a><\/blockquote>\n\n\n\n

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This mechanism serves to increase Slothana\u2019s scarcity, further driving value and setting the scene for potentially explosive future rallies as the token literally gets rarer as it gets pricier.\u00a0<\/span><\/p> \n<\/figure>\n\n\n\n

$SLOTH\u2019s DEX Debut\u00a0<\/h2>\n\n\n\n

Slothana\u2019s trading chart over the week shows a token that began rallying hard after the airdrop concluded on the evening of May 8, UTC. The line forms textbook bullish patterns from then on, with steep upward climbs followed by brief periods of consolidation.\u00a0<\/p>\n\n\n\n

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