$SMOG, a Solana-based meme coin, experiences significant price surge amidst Bitcoin correction, attracting investor interest and comparisons to Shiba Inu.
The Solana-based meme token $SMOG has experienced a significant surge, reaching new all-time highs. This rally has captured the attention of investors and traders alike, prompting comparisons to other popular meme coins such as Shiba Inu.
Over the past 24 hours, $SMOG has seen an impressive surge of 63.78%, propelling it to 17th place among the most valuable meme coins. This surge was accompanied by a sudden influx of $1.9m in trading volume, as investors sought alternatives amidst Bitcoin’s recent price correction.
At the time of writing, $SMOG was trading at $0.166, representing a 42% increase in just 24 hours. The token’s price action has led to sequential all-time highs, with the latest peak standing at $0.19.
Despite this bullish momentum, $SMOG’s trading channel indicates potential for further upside, with buy pressure dominating and support levels minimising downside risks.
Community Growth, Exchange Rumours and Market Comparison
Beyond price action, $SMOG’s airdrop campaign has witnessed a surge in community growth, with the number of token holders approaching 50,000. Additionally, the number of airdrop quest completions on Zealy has surpassed 1,000,000, reflecting widespread participation and engagement within the community.
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Rumours within the $SMOG community suggest a potential listing on a major tier-1 cryptocurrency exchange (CEX) in the near future. While unconfirmed, such a listing could significantly impact $SMOG’s liquidity and accessibility, potentially leading to further price appreciation.
Comparisons with other meme tokens, such as $WIF, highlight $SMOG’s potential for further growth. Similar announcements, such as Binance listing $WIF token, triggered significant price surges, underscoring the market’s responsiveness to exchange listings.
How to Participate and Related Developments
Traders interested in participating in the $SMOG airdrop campaign can utilise Solana-compatible wallets like Phantom and access the token via platforms such as Jupiter DEX aggregator or Birdeye.
Engaging with the $SMOG community on social media platforms such as X (Twitter), Discord and Telegram can provide updates and announcements.
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Recent developments in the Solana ecosystem, including surges in trading activity on decentralised exchanges (DEXs), have contributed to the overall bullish sentiment.
Solana’s DEXs exhibited notable increases in trading volume, with some reaching daily highs of $2.85 billion. Additionally, Solana’s native token SOL has surged to a 20-month high, further solidifying its position among the top cryptocurrencies.
