Crypto News

Binance Launches $SLERF: The 21st Memecoin Hits The Market

Binance has introduced its 21st memecoin, $SLERF, adding another significant player to the growing memecoin ecosystem.

Here are some key insights into this latest launch:

1. Dominating SOL Memecoins: This marks the 13th Solana-based memecoin launched by Binance this year, representing an impressive 62% of the network’s activity in this category.

2. Wintermute’s Track Record: $SLERF is the 16th memecoin created by Wintermute to secure a Binance listing. With such a high success rate, Wintermute has solidified its reputation in the memecoin space. Just recently, on November 16, $SLERF was proposed by Wintermute via OKX, causing the coin’s price to surge 60% in a short span.

3. Market Dynamics: Amid Bitcoin’s return to its all-time high, many popular older memecoins have faced substantial corrections, while new coins like $SLERF are drawing significant liquidity.

$SLERF Token Withdrawn From OKX Exchange

In the past week, Wintermute made waves by withdrawing $940,000 worth of $SLERF from OKX. Reports suggest Wintermute may have been involved as a market maker for $SLERF as far back as eight months ago when the token reached its peak.

The excitement continued after Binance announced perpetual contracts for $SLERF. One prominent whale made headlines by purchasing 6.13 million $SLERF at $0.427, spending 10,790 SOL (approximately $2.62 million).

As the memecoin market continues to evolve, $SLERF’s introduction highlights the growing influence of Binance and Wintermute in shaping this dynamic sector. Investors are keeping a close eye on its performance in the coming weeks.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: archnoi1/123RF // Image Effects by Colorcinch

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