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TRON (TRX) founder Justin Sun announced that he will support the controversial meme coin.

Justin Sun’s support was seen for SLERF, which was launched on March 18th and made quite a name for itself in a short time. The project had mistakenly burned the $10 million worth of Solana (SOL) it collected from users in its pre-sale, which had caused serious backlash.

In the statement made by Sun, it was mentioned that all the revenue from SLERF trades on the HTX cryptocurrency exchange will be transferred to the affected pre-sale users.

Support from Bitget and many cryptocurrency exchanges

Parallel to Sun’s announcement, a similar step was taken at the Solana-based decentralized exchange Jupiter. The announcement stated that the revenue from SLERF trades will be transferred to the pre-sale participants.

Cryptocurrency exchange Bitget was also among the supporters of this action to remedy the situation. Bitget’s statement, in line with other announcements, focused on transferring revenue from transaction fees to the affected investors.

Approximately $480,000 worth of assets were collected into a donation address supported by exchanges and Sun. It was stated that these assets will be allocated to users who lost money in the pre-sale.

SLERF surpassed the similar meme coin BOME

Following the positive developments, the price of SLERF rose from $0.60 to $1.30 within hours, resulting in approximately a 2x gain. With increased attention and rises, SLERF’s market value climbed to $650 million, surpassing the market value of the first experimental meme coin BOME. As a result, SLERF was recorded as the 8th largest meme coin.

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