Solana-based meme coin sensation Bonk ($BONK) is now down by a major 70% from its all-time-high value set in December.
The undertaking surged by over 700% in the course of the ultimate month of 2023, inflicting it to realize meme coin sensation standing after hitting a $1.5 billion market cap.
Since its peak, $BONK has dropped considerably, buying and selling in consolidation all through January.
Whereas $BONK continues to expertise its chop, merchants are turning their consideration to newly rising initiatives able to delivering related returns.
Specifically, SMOG Token ($SMOG) is popping heads after pumping by over 1,400% following its truthful launch on Jupiter yesterday, with its distinctive airdrop utility anticipated to deliver additional positive aspects within the coming days.
Is $BONK Useless? Worth Continues Chop as Curiosity in Meme Coin Sensation Fades
$BONK was one of many hottest cryptocurrencies in December 2023, reaching superstardom by hitting an infinite $1.5 billion market cap.
The cryptocurrency had surged over 700% in December to peak at $0.000035, marking an epic return of over 50x for early adopters.
Since its peak, $BONK has been in a constant downtrend, shedding a devastating 70% from its market cap.
The meme coin has discovered assist on the $0.00001 stage and is buying and selling in a interval of consolidation.
The market is approaching the apex of a descending triangle sample, which has some merchants believing a restoration is imminent;
Trying forward, if the consumers can maintain assist at $0.00001 and push above the higher angle of the triangle, the primary resistance lies at $0.000015.
That is adopted by $0.00001178 (bearish .382 Fib), $0.00002, and $0.000023.
On the opposite facet, a break beneath $0.00001 would see the primary assist at $0.0000077, adopted by added assist at $0.000005 (200-day MA), $0.000004, and $0.0000015.
What Tasks Are Merchants Trying At As a substitute?
Even when $BONK breaks to the upside of the triangle, the market cap is now too excessive to supply the 50x returns it provided initially.
As a substitute, merchants are actually in search of newly rising initiatives able to delivering considerably larger positive aspects than these shopping for $BONK as we speak.
One undertaking, particularly, is inflicting a frenzy on Solana after pretty launching on Jupiter yesterday.
$SMOG has stormed onto the market with a singular airdrop utility that’s inflicting a wave of pleasure, permitting the token to pump 1,400% in its first few hours.
Newly Launched $SMOG Sees 1,400% Surge After Truthful Launch on Jupiter
Newly launched $SMOG surged by an epic 1,400% as we speak after its truthful launch on Jupiter.
The undertaking brings a singular airdrop utility that lets customers purchase and maintain $SMOG to earn airdrop factors to qualify for a historic airdrop.
Born within the celestial forges of Jupiter, $SMOG guarantees a good launch and an unparalleled airdrop spectacle, permitting an equal alternative for everyone to get positioned.
$SMOG is following the footsteps of fashionable Solana-based meme cash like $BONK, $MYRO, and $WIF to develop into the following meme coin sensation within the ecosystem.
The token launched on the Solana blockchain at 16:00 UTC and noticed a wave of shopping for stress in its first jiffy, inflicting it to surge by over 1,400%;
Merchants are rapidly dashing to get positioned on any dips because the undertaking displays the fingerprints of an knowledgeable Web3 staff, with rumors rapidly spreading that it may very well be the identical staff that delivered $SPONGE – a meme coin hit that delivered 100x returns in Could 2023 on Ethereum.
Airdrop-Centered Meme Coin Set to Begin New Pattern on Solana Blockchain
$SMOG is bringing a brand new development to Solana with its airdrop-focused narrative. The undertaking describes itself as probably the most rewarding token on the Solana community, with an infinite 35% of the full provide put aside for its airdrop marketing campaign.
The airdrop marketing campaign is facilitated by way of Zealy, a social media advertising device that brings huge engagement to initiatives.
Customers collaborating within the Zealy marketing campaign can construct up airdrop factors by finishing day by day, weekly, and month-to-month quests.
The quests embody duties comparable to following SMOG on Twitter and interesting in social media discussions on Discord.
Neighborhood members with the best variety of airdrop factors may also be proven on a leaderboard, bringing a aggressive spirit to the marketing campaign.
$SMOG Begins Trending on In style Buying and selling Dashboards as Merchants Search for Entry Alternatives
$SMOG has already secured its place as a hotly trending meme coin In just some hours of launching.
For instance, it surged to the Solana Dextools scorching pairs part;
🔥 Smog has simply entered Solana Dextools scorching pairs
— CryptoTrending (@DexBotOG) February 7, 2024
It additionally secured its place as the highest total gainers on its Every day Gainers Listing;
General, with the hype swiftly constructing, $SMOG is predicted to supply a minimum of 10x returns to early adopters over the approaching days as soon as the social media engagement kicks in and members look towards its airdrop.
$SMOG might doubtlessly develop into one of many hottest trending meme cash in February and shouldn’t be pale. Better of all, $SMOG is on Solana, so small investments under $100 are all the time welcomed as a result of low transaction prices.
Purchase $SMOG At this time.