Memecoin SLERF saw a rise after crypto exchange KuCoin announced the listing of the SLERF/USDT pair on its Spot trading platform.
The listing interestingly comes at a time when Memecoins are seeing a growth in demand, making crypto exchanges list more and more memecoins each passing day.
The KuCoin listing also follows SLERF’s previous development of getting listed on Binance Futures as the SLERF/USDT perpetual futures got added to Binance Futures, giving traders up to 75x leverage.
SLERF Price: What Does It Say?
SELRF price jumped over 20% after the listing announcement was made. At the press time, the coin is trading at $0.3549, up nearly 21.30% as compared to the same time last day.
The rise in this price also is in tandem with general crypto market optimism that has been prevailing for quite some time now. As per the coin’s market analysis, it looks like the investor sentiment is bullish and the Fear & Greed Index is currently at 82 (Extreme Greed).
Last month saw SLERF experience 34.47% price volatility and 15/30 (50%) green days. The SLERF price forecast sentiment is generally bullish, with 20 technical analysis indicators indicating bullish signals and three indicating bearish signs, according to market parameters.
Why is SLERF Token Gaining Popularity?
The combination of SLERF tokens’ distinctive “storytelling,” enormous “capital capacity,” and “token security” has caused its wild rise and fall. With the backdrop of memecoins’ gaining popularity in the market, SLERF token has made an impression in the market regarding its trajectory and price.
After its launch, just overnight, the cryptocurrency almost became the market’s new star after it overtook BOME, and investors watched an incredible counterattack.
Despite the SLERF developer’s error of burning the liquidity provider and token, the memecoin with a sloth theme on the Solana network earned $10 million in a purported presale and gained popularity very rapidly.
The introduction of SLERF coincides with developers generating millions of dollars through presales, which helped Solana’s SOL token hit $200 for the first time since November 2021.
SLERF’s popularity also came after the token was transferred to Wintermute. According to Scopescan surveillance, OKX had transferred a significant amount of SLERF tokens to Wintermute, a well-known market maker in the cryptocurrency field, totaling almost $1.2 million.
These transfers’ timing and magnitude point to a structured arrangement common in market-making service agreements, which is consistent with Wintermute’s long-standing practice of offering liquidity services for different token projects.