I would have a pretty hard time folding. Someone who's limp calling is usually a weaker player. He's donking and overbet-jamming. They can easily have a lot of weaker hands in their range. Some of them being completely random. Folding is imo way too tight here. This is a spot that you'll have to take I guess and hope for the best once you call.
But I've been playing NL 16 for a while and I played some NL 10 the last week to compare the two stakes and what I noticed is that people on 10 NL are playing tighter and making big lay downs. They are not semibluffing often and also not bluffing all that often. It feels like nut peddling very often. Check-raises on flops usually means sets and never a flushdraw and 2 overs for example. I've started to play more cautiously since I found myself on the bad end of coolers way too often. I'd like to illustrate that with the following hand. How would you guys play it ?
Poker Stars $10.00 No Limit Hold'em - 6 players - View hand 2848619
DeucesCracked Poker Videos Hand History Converter
BTN: $5.72 - VPIP: 50, PFR: 50, 3B: 50, AF: 0,0, Hands: 2
SB: $12.28 - VPIP: 20, PFR: 11, 3B: 13, AF: 0,0, Hands: 44
BB: $15.16 - VPIP: 10, PFR: 5, 3B: 0, AF: 0,0, Hands: 21
UTG: $12.42 - VPIP: 0, PFR: 0, 3B: 0, AF: 0,0, Hands: 19
Hero (MP): $14.02 - VPIP: 25, PFR: 20, 3B: 9, AF: 3,6, Hands: 46743
CO: $10.91 - VPIP: 0, PFR: 0, 3B: 0, AF: 0,0, Hands: 7
Pre Flop: ($0.15) Hero is MP with 3
3 
1 fold, Hero raises to $0.30, 2 folds, SB calls $0.25, 1 fold
Flop: ($0.70) 3
8
5
(2 players)
SB checks, Hero bets $0.35, SB raises to $1.22, Hero calls $0.87
Turn: ($3.14) T
(2 players)
SB bets $2.31, Hero calls $2.31
River: ($7.76) T
(2 players)
SB bets $2.74, Hero calls $2.74