The meme coin craze shows no signs of slowing down on Solana as new low-cap tokens gain traction on the network almost daily.
Tokens like Bonk (BONK) and Myro (MYRO) have seen exponential growth in recent months, yet both have suffered from profit-taking as investors cash out their gains.
As the hunt continues for the next meme coin to take off on Solana, all eyes are on Smog (SMOG), a dragon-themed token gearing up for an enormous airdrop in the coming weeks.
Why Solana is Becoming the Epicenter of Viral Meme Coins
The success of Bonk, Myro, Honk, and other animal-themed meme coins on Solana has resulted in enormous interest from retail investors seeking the next Dogecoin or Shiba Inu.
Thanks to Solana’s fast and low-cost transactions, new meme projects are constantly being launched to capture investors’ attention.
According to data from CoinGecko, the Solana meme coin market is now valued at over $1.1 billion and has experienced $129 million in trading volume over the past day.
This growth has kickstarted a meme coin craze on the blockchain, with influencers, communities, and developers now looking to Solana instead of rival layer-1 chains like Ethereum.
Given that tokens like BONK have shown themselves capable of producing 100x (or more) gains in a short period, there is intense interest in finding and investing early in the next viral meme coin on Solana.
Is SMOG Token the Next BONK After Rocketing 3,000% After Stealth Launch
With investors now on the hunt for high-growth meme coins, attention is turning to Smog (SMOG) as a viable option in this regard.
SMOG’s value rocketed after its launch on February 7, surging over 3,000% in the first three days and passing a fully diluted market cap of $121 million.
Like BONK and MYRO, SMOG’s fair launch and clever tokenomics have helped drive hype and FOMO.
Half the SMOG supply has been set aside for marketing, hinting at major influencer and promotional campaigns ahead.
Another 35% will go towards airdrop rewards for community members, incentivizing long-term holding.
Adding to the growing buzz are the rumors that SMOG has the backing of the same team that created viral meme coin sensation Sponge (SPONGE), which rocketed 100x in May 2023.
Due to this, traders are positioning in SMOG early, believing it could follow a similar parabolic trajectory as excitement builds ahead of the community airdrop.
To participate in this airdrop, investors must simply buy and hold SMOG through a DEX or buy and stake through the widget at smogtoken.com.
Investors can also earn more “airdrop points” by signing up to the Smog community on Zealy and completing social media-related tasks.
FOMO Frenzy as SMOG Expands to Ethereum & Influencers Jump Onboard
The rise of Smog is showing no signs of slowing down, leading to speculation that it could be the next Solana-based meme coin to rival BONK.
Interestingly, Smog’s developers have now also bridged the token to Ethereum via PortalBridge.
This opens the token up to a broader audience of meme coin investors while allowing holders to swap freely between the two chains.
SMOG’s social channels have also grown exponentially, with its Twitter now over 22,000 followers and Telegram over 13,000 members.
The team is making a splash on social media through hilarious memes, while several major YouTube influencers have posted bullish videos on SMOG.
Notable examples include Jacob Bury, who speculated that it could have “100x potential,” and Crypto Gains, who believes meme coin investors should “get in early.”
They both cite the major airdrop incentive starting soon, as well as rumored CEX listings that would likely introduce more demand.
All in all, for investors seeking high upside potential, all signs currently point to SMOG.
With the token still trading for just $0.047, the risk-to-reward ratio seems tilted heavily in favor of speculative buyers.