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The Solana-based meme coin fever continues as Peng, a new project, ranks first on DEXTools.io’s trending tokens list and recently reached its all-time high.
In recent weeks, meme coins have surged impressively. Many new ones made it into the top 100 projects last month. Meanwhile, Dogecoin (DOGE) and Shiba Inu (SHIB) are close to breaking into the top 10.
Meme coins based on Solana (SOL), such as Bonk (BONK) and dogwifhat (WIF), experienced a sudden jump in prices. But now, a new SOL-based meme coin called Peng (PENG) is gaining attention in the crypto world.
While there are meme coins themed around dogs like $DOGE and $SHIB, and frogs like Pepe (PEPE), Peng (PENG) stands out with its penguin theme.
Peng – The latest meme coin craze on Solana
Peng (PENG) doesn’t just exude charm; it pioneers innovation within the crypto space. The project seeks to revolutionize decentralized finance (DeFi) and meme token culture while infusing the Solana chain with both warmth and liquidity.
Peng aims to make a significant impact on the cryptocurrency landscape by actively encouraging users to engage with its dynamic community. Regardless of their level of experience, users and investors are invited to participate in the project’s growth and contribute to the expansion of the Solana ecosystem.
In addition to its community-driven approach, Peng has formed strategic partnerships with prominent platforms such as Coinmarketcap, DEXSCREENER, GOTBIT, and DEXTOOLS to enhance its visibility. Additionally, the coin has been listed on prominent exchanges such as MEXC, Bitmart, Jupiter, Raydium, Poloniex, Bitget, and Lbank.
$PENG TRADING WILL START ON @LBank_Exchange IN 40 MINUTES (12PM UTC)https://t.co/f7zszppzR4 pic.twitter.com/2bVjQietVZ
— PENG on Solana! (@pengonsolana) March 14, 2024
As Bitcoin (BTC) achieves new all-time highs, the cryptocurrency market is experiencing another bull run. Against this backdrop, Peng (PENG) is poised to make significant strides in the charts. With its foundation on the Solana blockchain, Peng has the potential to ascend into the ranks of the top 100 projects in the near future.
Peng price prediction
Over the past 24 hours, the price of Peng surged by 100%, reaching $1.15 at the time of writing, accompanied by a 151% surge in trading volume. This rally has contributed to Peng’s remarkable gains of over 1,000% since its launch on the Solana blockchain last Tuesday.
The excitement around Peng doesn’t seem to be slowing down. Now, Peng has over 23,000 holders and a market cap of $115 million. To put it in perspective, that’s more than many other legitimate tokens and DeFi projects on Solana launched recently.
$PENG’s surging popularity is fueled by its growing presence on social media platforms, especially Twitter, where it has gained over 17,000 followers in just one week. Despite the token’s limited use cases, retail traders are still rushing to invest in Peng, sparking a significant bull run.
Even influencers are noticing Peng’s sudden popularity. @CryptoTalkMan, who has over 54,000 followers, tweeted that 2024 is the “year of the penguins.” Analysts are optimistic about Peng’s future, with some suggesting that its price could significantly increase to up to $2 in the next few days.
Peng tokenomics – Why does $PENG look like $PEPE?
Even though $PENG’s popularity is soaring, many traders are still puzzled about what exactly this project is all about. It turns out that $PENG is riding the wave of excitement surrounding Pepe (PEPE), one of the biggest meme coins out there.
As stated on its website, $PENG presents a cartoon penguin that resembles Pepe the Frog but with its own special touch. The project’s creators are embracing this similarity, branding $PENG as the “cool new addition to the Solana blockchain.”
However, beyond the playful branding, the Peng token seems to be pretty standard for a meme coin at this point. Its tokenomics include a total supply of 100 million tokens, and there are no taxes on buys or sells. They’ve also permanently burned liquidity to prevent any potential issues down the line.
Adding to $PENG’s rise, the team has announced plans for a $100,000 giveaway to holders of the popular Pudgy Penguins NFT collection. With excitement around $PENG growing rapidly, investors are eager to get involved before the token becomes more widely known.
Another Solana-Based next big meme coin
While the $PENG token is getting a lot of attention on DEXTools.io, there’s another exciting project called Smog that could be worth keeping an eye on. Unlike $PENG, which is known for its simple design, SMOG is positioning itself as a multi-chain meme coin.
Although it started on Solana, $SMOG has already expanded to Ethereum, reaching a wider audience of potential investors. What’s catching people’s attention is $SMOG’s big airdrop campaign, which reserves over a third of the total token supply for community members.
Along with an interesting quest system on Zealy, SMOG has built a strong community faster than many other meme coins on Solana. The hype surrounding SMOG’s airdrop has caused its price and social media buzz to soar.
Today, SMOG is up 28% to $0.25, with 99% of investors feeling positive about its prospects, according to crypto analytics platform birdeye.so. For those who missed out on the initial excitement with $PENG, $SMOG could be another chance to get involved in the buzz surrounding meme coins on Solana.
Furthermore, because $SMOG offers stakers a yearly yield of 42%, it’s also an opportunity for people looking to earn passive income. To become a part of this exciting new project, purchase $SMOG tokens here.
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