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Crypto meme coin prices are exploding: Pepe is up 325% over the past seven days, Dogwifhat 418%, Shiba Inu 128% and newcomer Smog up 118%.
Overall the market capitalization of the meme coin sector has advanced 30% over the past 24 hours alone, to clock in at almost $54 billion.
There are no signs of the buying frenzy easing. Dogwifhat’s price has risen 46% in the past 24 hours – that’s indicative of the continuing allure of Solana meme coins and augurs well for $SMOG. So too does the stellar performance of another newcomer, PepeSol, which has gained 1,075% in the past few hours.
Like PepeSol, Smog is a SOL meme coin, which looks to be the blockchain the smart money is gravitating to in this red-hot market.
Where Bitcoin Goes, Altcoins Follow
Bitcoin surged 5.3% in the past 24 hours to hit $65,111 as of 4:15 a.m. EST as buying in Asia boosted the king of cryptocurrencies before the US opening, a good omen for dragon-themed Smog in the Chinese New Year of the Dragon.
Altcoin season is well and truly upon us and what market participants new to the game need to appreciate is that when bitcoin races towards a new all-time high at the speed it is currently doing, then it is catch-up time down below.
The place where buyers are doing most of the fishing to catch top ROI is among the alpha-rich meme coins.
Still, there are at least two other factors in play that new coins like Smog have going for them that older meme coins don’t.
Solana Meme Coin Dragon Token $SMOG Plans An Airdrop To Trump All Others, Including Dogwifhat
First, there is the Solana factor. Despite teething problems with its blockchain, SOL is standing tall and attracting more and more activity, with meme coins the latest to jump on board.
According to DappRadar Solana is the busiest blockchain in the past seven days when measured by transaction volume. It rang up 98 million transactions compared to Ethereum’s 1.2 million. By a country mile, Solana is a faster and cheaper Layer 1 to run on than Ethereum, and indeed many other so-called Ethereum killer Layer 1s.
Smog is making use of Solana to build out its mysterious hidden community of dragon followers that it is growing through the gamification of its mega airdrop campaign. which Solana airdrop searchers can get involved in by buying $SMOG and heading over to its Zealy page.
Secondly, because $SMOG is such a new coin – only 25 days old – it has a much better chance of pulling in the new money because it has greater upside ROI potential than relative oldies such as Shiba Inu and Dogecoin, and even the likes of Pepe.
In fact, Smog looks set to follow the trajectory of Solana meme coin stablemate Dogwifhat, which has seen its price explode 11,000% and, as the chart below shows, is on a parabolic run right now. Likewise, Smog is tracking an impressive path higher, up 7700% since launch on February 7th.
Debuting on DEXs at a low price of $0.001419, the dragon-themed meme coin is currently valued at $0.1178. The diluted market cap based on the circulating supply of 770 million is $90 million.
According to DEXTools data, the Smog Token has attracted more than 39,500 holders, with liquidity in the Raydium pool surging to $2.18 million, making trading a seamless process.
Fueling the buying interest in $SMOG is the 35% of the 1.4 billion token supply that is being distributed to participants.
Not surprisingly perhaps, in double-quick time the Smog community has grown to 31.3k on X/Twitter, 16,500 on Telegram, and 8,504 on its Discord server.
There are now 14,000 airdrop members on Zealy availing themselves of the opportunity to grab tokens by completing quests (tasks) to earn points for the upcoming $SMOG airdrop. The number of tasks completed is approaching half a million.
Participants have myriad ways to earn airdrop points. Sign up for the Smog Token community socials, trade $SMOG, embark on daily, weekly and monthly quests, write bullish comments on CoinMarketCap, and a smorgasbord of many other activities.
SMOG on Zealy: https://zealy.io/cw/smogtokenairdrop/questboard
Altcoins Play Catch-Up With Bitcoin So There Is Plenty Of Upside For $SMOG
A third incentive for buyers relates to the altcoin season. Bitcoin dominance in the overall crypto market is still a relatively high 49.7%. That means there is a lot of catching up for altcoins to do, providing those entering the market at this point with the comfort of knowing there is plenty of headroom going forward.
If market participants are still looking for reasons to join the party, another string to the Smog bow provides a fourth reason to be cheerful – its multichain architecture.
Through the deployment of Wormhole technology and the services of PortalBridge.com, Smog became a cross-chain platform shortly after its launch on decentralized exchanges.
Furthermore, not only has $SMOG caught the eye of crypto aficionados for all of the reasons explored above, but it was also a fair launch. All the tokens were on sale to the general public, with no supply allocated to team-member insiders at preferential rates.
Another nice touch is the way the team is spreading the airdrop dragon vibe by targeting the wallets of high-value holders of other projects such as Bonk, Dogwifcoin, MYRO, and Samoyed coin, to the tune of $1,500.
Buy And Stake Smog For 10% Discount, 42% APY And Bonus Airdrop Points
Finally, market participants can buy and stake $SMOG over-the-counter (OTC) directly on the Smog website. Contributors receive a 10% discount, in addition to earning an annual percentage yield (APY) of 42% and more airdrop points.
Although $SMOG is a multichain coin that exists as both Solana and Ethereum-based versions, staking is with the ERC20 Ethereum-compliant version of the token.
To participate in the Smog ecosystem requires the use of a Solana-compatible wallet such as Phantom.
Using SOL, USDT, or BONK tokens, users can swap for SMOG via the Jupiter DEX aggregator or Birdeye. Alternatively, buy and stake $SMOG on the Ethereum network at the project website for a 10% discount – smogtoken.com.
Join the Smog community on X (Twitter), Discord, and Telegram to keep up to date with the latest news and updates.
The Bitcoin price is printing $65,111 at the time of writing, and meme coins are on a tear. Against this portentous background, $SMOG is shining bright as the Solana ecosystem flashes green.
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