Propose an edit: Slothana

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Slothana is a sloth themed [[meme coin]] on [[Solana]] that raised roughly 15 million dollars in a month long presale during April 2024, making it one of the largest and last major projects of the Solana presale meta that [[book of meme]] began and [[slerf]] made infamous.

## Origin

Slothana used the "send to wallet" presale format popularized that spring: buyers simply sent SOL to a published address and were promised an airdrop of tokens at launch. The pitch was pure meme, a stoned office sloth with no utility or roadmap, marketed with the slogan of turning work avoidance into gains. The presale raised about 2.5 million dollars in its first 72 hours and over 10 million dollars within two weeks, a period in which Solana itself was suffering severe network congestion, and closed above 15 million dollars in late April, a total covered by Decrypt and industry wires. Promotion leaned heavily on crypto media placements and a rapidly grown X following; the team itself remained anonymous, and crypto press speculation about links to earlier presale projects was never confirmed.

## Market history

The token launched on April 29, 2024, with two billion SLOTH minted and airdropped to presale wallets before trading opened on [[Raydium]]. Unlike several presale peers it did not immediately implode: price trackers record an all time high of about 0.05 to 0.06 dollars on May 20, 2024, which against the two billion supply implied a valuation slightly above 100 million dollars, several times the presale price. The decline afterward was long and complete. Through late 2024 and 2025 SLOTH slid with the rest of the presale generation, and by 2026 its market capitalization sat below one million dollars on CoinMarketCap with minimal exchange support.

## Cultural impact

Slothana marks the end point of the send SOL era. Coming weeks after SLERF burned its presale and dozens of copycat presales rugged outright, its orderly launch and brief markup were held up at the time as proof the model could still work; its subsequent 99 percent decline became the counterargument. In [[the trenches]] Slothana is grouped with BOME and SLERF as the third act of the presale trilogy, the coin that closed the meta quietly rather than catastrophically, just as [[pump.fun]] and its bonding curve [[graduation]] model were removing the need to trust anonymous developers with upfront SOL at all.

## References

- https://decrypt.co/228211/slothana-presale-hits-15m-and-enters-final-stage-amid-growing-industry-interest
- https://chainwire.org/2024/04/26/slothana-presale-hits-15m-and-enters-final-stage-amid-growing-industry-interest/
- https://cryptoslate.com/press-releases/slothana-meme-presale-raises-over-10-million-in-2-weeks-amid-solana-network-congestion/
- https://insidebitcoins.com/news/slothana-surges-after-successful-ieo-could-these-3-crypto-presales-follow-suit-upon-launch
- https://cryptorank.io/price/slothana
- https://www.coingecko.com/en/coins/slothana

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