The meme coin market remains popular in early 2024, with a new Solana-based token called Smog turning heads.
Launched earlier this week, Smog (SMOG) has already surged by over 1,000%, attracting positive price forecasts from prominent crypto traders.
SMOG Token Takes Flight with Huge 1,000%+ First-Day Surge
SMOG was launched on the Jupiter DEX on February 7 and has since rocketed in value, with birdeye.so data showing that a whopping $1.2 million in trading volume occurred in the past day alone.
Additionally, the token saw interaction from 1,780 traders over the past 24 hours, marking a 67% increase from the previous day.
There are now 10,400 unique SMOG holders, which is remarkable considering the token is just two days old.
Investors have been clamoring to buy SMOG tokens because they diverge from the typical dog theme seen with most meme coins.
In contrast, SMOG features a fire-breathing dragon mascot, seemingly inspired by the character Smaug from The Hobbit franchise.
Looking at the project’s tokenomics, SMOG’s team has set aside allocations for a community airdrop, marketing, DEX liquidity, and further exchange listings.
SMOG’s roadmap outlines ambitious goals to reach 100,000 unique holders and potentially introduce a token burn protocol.
With over 10,000 people already following the token’s official Twitter page, it’s clear SMOG has struck a chord with the investor community.
Leading Crypto Traders Discuss SMOG’s Explosive Price Potential
SMOG’s meteoric launch hasn’t gone unnoticed, attracting attention from influential crypto traders on YouTube.
Several popular traders have highlighted the token’s potential in recent videos, predicting upside of 50x (or more) for the fiery meme coin.
Jacob Bury called SMOG a “100x potential Solana meme coin” in a video released just one day after the token’s launch.
Fellow trader Matthew Perry also released a video about SMOG, touting it as a brand-new meme coin that could be “crowned king of the Solana chain.”
Perhaps most significantly, a video from Crypto ZEUS, who has over 70,000 subscribers, declared SMOG as a “new memecoin gem exploding.”
In Crypto ZEUS’s video, he highlighted SMOG’s recent price action and speculated that the ongoing rally is just the beginning of the token’s full potential.
Between the impressive gains and bullish projections from leading crypto traders, SMOG seems to be on the right path to becoming the next Solana meme coin to break out.
Upcoming SMOG Airdrop Could Fuel Further Price Increases
One of the most anticipated upcoming catalysts for SMOG is the planned airdrop.
As noted earlier, 35% of the total SMOG supply, equating to 490 million tokens, has been set aside to reward early adopters.
Based on SMOG’s current price, this airdrop allocation amounts to an enormous $28.9 million in value.
To participate in the airdrop, traders must buy and hold SMOG tokens in a compatible Solana wallet to earn “airdrop points.”
Additional actions, like joining the Smog community on Zealy, can boost earnings even further.
Although no specifics have been revealed regarding how or when the airdrop will be distributed, the buzz around this event is steadily building.
This buzz has been amplified by the recent success of other Solana-based meme coins, like Bonk (BONK) and dogwifhat (WIF).
These tokens took off thanks to clever branding and community engagement – with SMOG looking to use this formula for its own growth.
If the developers can continue building an active community and list on additional exchanges, SMOG’s explosive growth may have only just begun.
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