Crypto Whales Are Hoarding This Solana Meme Coin – What Does it Do?

A presale for Solana’s all-American hillbilly $SEAL token has attracted over $1.4 million in just three weeks as it leads a new wave of Solana meme coins that has caught the attention of investors worldwide.

Sealana’s predecessors, meme coins coins like DogWifHat ($WIF), Bonk ($BONK), Book of Meme ($BOME) and Popcat ($POPCAT), all rose to become top ten meme coins by market capitalization within a year of launch.

Another recent viral Solana meme coin ICO – Slothana ($SLOTH) the 420-friendly sloth – raised an eye-watering $15 million in a recent one-month presale.

Now it looks like $SEAL is set to be Solana’s next sensation as whales push the presale toward $1.5 million in funding.

Who is Solana’s New $SEAL?

Sealana began life as a reference to South Park’s Gamer Guy, a meme legend known for his unhealthy screen time.

Gamer Guy first appeared in South Park’s World of Warcraft episode and has since become a symbol of excessive screen use, from keyboard warriors to lazy individuals.

There are rumors that the team behind it came out with this year’s viral $SLERF meme coin.

Slerf’s launch was plagued with catastrophe when the project accidentally burned $10 million of tokens allocated to early investors. After seeing Slothana take the sloth concept and go on to out-raise them, the team came back with Sealana.

Sealana is one of the projects making a reputation for Solana as the best Layer 1 blockchain for launching high-volume meme coins.

Solana currently hosts a digital economy storing over $4.5 billion in total value locked (TVL) across various apps and financial services, with 1.16 million active users transacting daily and over 2,500 monthly active developers.

There are also some potentially market-moving events that could add billions to Solana across all its projects.

Solana’s 2024 Could Get Bullish.

If analysts are right, then $SEAL and other Solana meme coins could attract some feverish speculation in the coming year when the economic effects of a Bitcoin software update known as “the halving” kicks in.

That’s because the halving slashed mining rewards from 6.25 BTC per block to 3.125, effectively halving the rate at which miners sell new BTC onto the open market.

Now, with Bitcoin setting new all-time highs this year after the US approval of spot Bitcoin investment products back in January, observers say crypto will become much more valuable, thanks to the bottlenecked new supply colliding with increased demand.

Y’all listen up!
When #Sealana said “MAKE AMERICA GREAT AGAIN”, he meant we gotta finish buildin’ that god darn wall!
Creatin’ a land of prosperity where all American $SEALS can shoot guns, drink drive, and leave the trailer park behind!
Join the #Presale, bag some… pic.twitter.com/GldZlorvvB

— Sealana (@Sealana_Token) May 17, 2024

The past three halvings added significant value to the market well within a year of the update.

More market-wide bull runs could prompt further meme coin gold rushes later this year.

This time, Solana tokens will be leading the rallies, ahead of their ERC-20 counterparts.

The potential US approval of Ethereum ETFs on Thursday next week could also be a boon for Solana meme coins like $SEAL.

Builders on Solana often boast their network is the number one “Ethereum-killer” and so its tokens often react bullishly to positive Ethereum news.

In any case, Sealana will be flapping his fins in happiness.

Follow the latest developments on his X account.

Buy Solana’s laziest $SEAL on the official website here.  

The post Crypto Whales Are Hoarding This Solana Meme Coin – What Does it Do? appeared first on Cryptonews.