The Solana meme coin $SMOG has witnessed a remarkable surge, defying the recent correction in Bitcoin's price. Market participants are buzzing with speculation, comparing $SMOG's ascent to the meteoric rise of Shiba Inu.
Driven by intense trading activity, $SMOG has skyrocketed by +63.78%, claiming the 17th spot among the most valuable meme coins. This surge was fueled by a sudden influx of $1.9M in trading volume, with investors seeking refuge from Bitcoin's correction.
As $SMOG gains traction, particularly in Asia during the auspicious year of the dragon, its recent price movements have garnered attention. The token has breached the upper bounds of its trading channel, reaching an impressive market cap of nearly $150M.
Currently trading at $0.166, reflecting a +42% change in the past 24 hours, $SMOG continues its upward trajectory, hitting sequential all-time highs, with the latest peak at $0.19. Despite this surge, there's potential for a further +90% move before encountering upper trendline resistance.
Buy pressure remains dominant, constituting 53% of recent transactions. Bulls are eyeing a push towards a new all-time high beyond $0.20, while downside risks are cushioned by support levels between $0.12 and $0.13.
BOME and SLERF ended their crazy rise, and the market once again experienced and witnessed another round of "gold rush" for getting rich. Although the heat wave of MEME has not completely subsided, the market has also temporarily regained some calm.
JinseFinanceIn 2024, one of the main topics of discussion in the “crypto space” seems to be meme coins.
JinseFinanceExciting debut for Solana's $SMOG meme coin on CEX after inaugural airdrop season. Unique dragon motif sets it apart from dog-themed tokens. Price volatility reflects market demand. Amidst broader crypto narratives, $SMOG leverages Solana's rise and ambitious airdrop campaigns for growth.
EdmundA meme coin that coincides with the right time, place, and people will definitely leave a lasting memory and long-lasting value in the crypto world.
JinseFinanceMEME plays a vital role in Web3 culture
JinseFinanceMEME plays an integral role in driving awareness and participation in Web3 projects because of its ability to reach widespread dissemination across language and cultural barriers at very low cost.
JinseFinanceTo build a successful MEME, you need to consider factors such as token economics design, mascot, airdrop method, and the chain you choose to issue on.
JinseFinanceCan Metis take advantage of the disadvantages of other Rollup centralized sorter problems and strong control economic models to stand out from many Layer 2s?
JinseFinanceAfter a period of market movement, the market will have a concentrated MEME season. This is because there is a lot of money in the market at this time and FOMO is high. Still want to find new opportunities to get rich.
JinseFinanceThis Shiba Inu-themed meme coin has risen rapidly over the past week but is it truly the saviour of SOL or will it join the ranks of the countless meme coins that have become obscure?
Catherine