Skyrocketing Solana Meme Coin: Current developments and opportunities for the rise of the SMOG token

Skyrocketing Solana Meme Coin: Current developments and opportunities for the rise of the SMOG token

The March 4, 2024 press release reports the huge rise in crypto meme coins. In particular, the price increases of Pepecoin (PEPE), Dogwifhat ($WIF), Shiba Inu (SHIB) and the new Solana meme coin Smog (SMOG) are highlighted. The market capitalization of the meme coin sector has increased by 15% to $46 billion in the last 24 hours alone. Particular attention is paid to the performance of Smog and Dogwifhat, which record massive gains.

The post explains that meme coins often only see a price increase in the wake of Bitcoin when it reaches a new all-time high. Two factors are also mentioned that speak for new meme coins like Smog: Solana as a promising blockchain and the potential for high returns due to the short market period. It is also noted that Smog shows a striking similarity to Dogwifhat’s price performance.

The article highlights the advantages of Solana as a faster and cheaper blockchain compared to Ethereum. Smog uses Solana to build its community and run a large airdrop campaign. Another factor driving interest in Smog is its fair launch, where all tokens were available to the public and there was no preferential sale to insiders.

It is also mentioned that Bitcoin's dominance in the crypto market is still high, suggesting that there is still a lot of room for altcoins to run higher. Finally, it is noted that investors can purchase and stake Smog directly on the website and connect to the various social media channels of the Smog community.

Skyrocketing Solana Meme Coin Smog experiences sensational price increase

On March 4, 2024, the press release reported the huge price increase of crypto meme coins. In particular, the prices of Pepecoin (PEPE), Dogwifhat ($WIF), Shiba Inu (SHIB) and the new Solana meme coin Smog (SMOG) have exploded. The market capitalization of the meme coin sector has increased by 15% to $46 billion in the last 24 hours alone.

The price development of meme coins is often related to the increase in the price of Bitcoin. When Bitcoin hits a new all-time high, it often draws buyers and investors into the meme coin space as well. In this context, the price increases of Smog and Dogwifhat are particularly notable.

Smog, only 25 days old, has made an impressive development in this short time. Similar to Dogwifhat, which has increased its price by 11,000%, Smog is on an impressive upward path and has gained 7700% since its launch on February 7th. The token is currently priced at $0.1018 after trading on DEXs at a price of $0.001419. The diluted market cap is $90 million based on the outstanding supply of 770 million.

There are several reasons for the success of smog. On the one hand, the currency benefits from the growing popularity of the Solana blockchain. Although there were initial technical problems, Solana has established itself as a faster and cheaper alternative to Ethereum. According to DappRadar, Solana was the blockchain with the highest transaction volume over the past seven days, with 98 million transactions compared to Ethereum's 1.2 million.

Smog uses the Solana blockchain to build its community and run a large airdrop campaign. The community is attracted by the gamified airdrop campaign where Smog tokens can be acquired by purchasing SMOG and used on the Zealy platform.

Another reason for the great interest in Smog is the relative newness of the cryptocurrency. Since Smog has only been on the market for 25 days, it has greater potential for high returns compared to established meme coins like Shiba Inu or Dogecoin.

In addition, the fair start of smog is another plus point. All available tokens were offered to the public for purchase without insiders having access on preferential terms. This highlights the developers' trust and interest in building a broad community of supporters.

Interested parties can buy and stake Smog directly on the website. Purchasing via OTC (over-the-counter) offers a 10% discount as well as an annual return of 42% and additional airdrop points. Staking is done using the ERC20 version of the token on the Ethereum blockchain.

Bitcoin's dominance in the crypto market shows that there is still plenty of room for altcoins to rise. Bitcoin still accounts for about 49.7% of the total crypto market, so the rise of altcoins like Smog is still ongoing.

Overall, the huge price increase of crypto meme coins like Smog shows the ongoing interest and demand for new coins. The use of Solana as a blockchain platform and the positive aspects such as the fair launch and the potential for high returns make Smog a promising investment for those looking to enter the meme coin sector.

Table: Current price increases of crypto meme coins (as of March 4, 2024)