Slerf, a brand-new memecoin headquartered in Solana, has encountered numerous difficulties after its creatoxr unintentionally burned through a large chunk of the token supply, thereby losing $10 million, or all of the money that presale participants had invested.
“Guys, I f—ed up,” the official X account for the project wrote. “I destroyed the tokens designated for the airdrop along with the LP. I’ve already lost my mint authority, thus I’m unable to mint them. I am powerless to resolve this. I’m really, really sorry.”
Later, the Slerf team visited X Spaces to discuss the matter more. Teammate Slorg stated, “I’m sick to my stomach,” in a Space on X. “I’m literally about to throw up.”
“I’m lost for words,” they continued. “I don’t know what to do.” A Spaces participant said, “Losing $10 million on a side quest is crazy,” after Slorg referred to the Slerf as a “side quest.”
Several members of the X Space have stated that “sending it to $1 billion” is the wisest course of action going ahead. Lookonchain showcased on-chain statistics showing that one trader made almost $3 million trading SLERF in just 12 minutes.
This latest disaster comes after a weekend filled with Solana-based memecoin presales, where some haphazard projects surfaced and secured substantial funding—often millions of dollars.
Also Read: Solana Memecoin Surge Echoes Ethereum ICO Era Comparisons
