However, many holders of the meme coin were left with losses as prices of the token crashed. This occurred because after raising $10 million, SLERF “mistakenly” transferred all funds to a token burn address.Justin Sun, in an attempt to aid customers who bought the meme coin, announced that he would take action regarding the SLERF situation.
In a tweet, he announced that HTX will donate all the trading revenue generated from SLERF trading on HTX Global.Additionally, HTX will donate some of its native token for SLERF’s trading fee mining on the HTX.com platform. Even though this move inspired praise for Justin Sun across social media from various accounts, others remained skeptical.
Speculation has been circulating within the X community suggesting that Justin Sun is the driving force behind SLERF. In May 2023, Sun disclosed his intentions to engage in meme coin trading and explore potential entertainment projects, accompanied by a pledge to donate any resulting profits to charity.SLERF’s price remained negative at press time. In the last 24 hours, the price of SLERF had fallen by 18.73.Himalay is a full-time journalist at AMBCrypto. A Computer Science graduate, Himalay writes about crypto with a special focus on the latest coin-based updates.