PLERF, A Solana-Based Token’s Trading Volume Surged 2100%; What’s Happening?
PLERF, a newly launched Solana token, is tending in the crypto market with its 2100% surge in the trading volume with $4.32 Million in value. Not only this, the token price has also surged 88% in just a day and 248% in a week. At the time of writing, the PLERF price is at $0.004014.
It has also set an all-time high value of $0.005991 and has dropped by 27% for now.
PLERF is a sloth-themed meme cryptocurrency that is said to be the next version of SLERF, which gained a 2.41 Billion trading volume in the first 24 hours of launch.
Why PLERF Is Trading In The Market?
PLERF was launched not too long ago and is a meme coin with low value. It was easier for it to get the initial desired attention from investors. It might also become prone to fall with the ongoing slow market and changes in the trends. Regardless, the token is surging for new heights for now, with a minor fall here and there.
On the other hand, it is similar to the SLERF token, which dominated the market up to recently but is in the dip as of now. Because of the PLERF marketing, calling it the next part of the SLERF meme coin, people are running to be a part of the network and not miss the initial hike, which they missed in the case of SLERF.
Also Read: Solana Price Surge Secrets Revealed; What’s Solana Hiding From Us
Right now, SLERF has more than 75k holders and $129 in liquidity and has gained attention from investors. Its market cap is around $247,686,968, with a trading volume of $276,790,371. So, the investors are hoping for PLERF to follow a similar pattern and turn it into a big profit meme coin.
However, the entire crypto market is shifting towards a bear trend, where major cryptocurrencies suffer mainly because of Bitcoin price fall. Amid this chaos, a sloth meme coin might maintain a study pace to get over the market or fall.
Final Thoughts
If PLERF gained a similar reach to SLERF, the chances are high for it to rise in value. But because of the meme coin nature, a few hidden scares always interfere with their values. Investors should be careful while investing in such high-risk cryptocurrencies.
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