A new Solana-based meme coin, $SLERF, has made headlines by surpassing Ethereum ($ETH) in trading volume within its first day of existence. The coin, which saw its trading volume cross the $2 billion mark, eventually reached $3.22 billion, overtaking Ethereum's $2.37 billion in the same timeframe. This surge in trading volume comes after a token burn misstep, yet $SLERF managed to rebound, now boasting a $500 million market cap. The meme coin frenzy has not only highlighted the growing popularity of such assets on the Solana network but also underscored Solana's greater capital efficiency compared to Ethereum. $SLERF's remarkable performance involved over 800,000 trades from 130,000 traders, further emphasizing the significant interest and activity surrounding this new cryptocurrency.