SOL token, which has been in decline since last Tuesday due to the malfunction in the Solana network, has increased by approximately 7 percent from its lowest level. With this latest development, the broader cryptocurrency market has shown signs of recovery from the pessimistic conditions of late January.
The value of SOL, which exhibited a resilient recovery, exceeded the critical threshold of $ 100 and was fixed at approximately $ 102 as of the time this news was written.
The recovery above the leading psychological threshold occurred just two days after a significant network outage that caused Solana to experience an outage that lasted close to five hours. The outage caused block production to halt and disrupted transactions.
Taking advantage of SOL’s rapid rise, new cryptocurrency Smog (SMOG) also made a remarkable entry into the Jupiter DEX platform. The new Solana meme coin Smog (SMOG) has gained more than 900 percent in value since its launch on the Jupiter exchange the previous day, benefiting from the current wave of positive enthusiasm. The number of people purchasing Smog tokens increased over the hours and the SMOG price rose to $0.02272 as of the time this news was written. This success of the Smog token also aroused curiosity about the project.
https://twitter.com/SMOGToken/status/1755620567552503921?s=20
What is Smog Token?
The rise in popularity of meme coins on the Solana blockchain became a major topic of discussion later in 2023, led by the dog-themed cryptocurrency Bonk (BONK). However, many investors are questioning whether the BONK frenzy has finally subsided, considering the fact that the token is currently trading as much as 69 percent below its peak value.
While BONK faced challenges, the newly launched Smog (SMOG) token managed to capture the interest of the Solana community and experience a significant increase of more than 900 percent. The number of investors who want to buy Smog Token has also increased significantly. Based on these, SMOG aims to show itself as the next important player in the meme coin market.
Recently launched on the Jupiter market, SMOG positions itself as the ultimate meme coin and aims to surpass BONK’s previous dominance. Although it is new, it managed to be among the top 10 Solana tokens yesterday, according to the tweets of cryptocurrency influencers.
The launch of the Smog token also created excitement among JUP holders and traders, marking the arrival of a new era for meme coins on the Solana blockchain. After a fair launch and a highly anticipated airdrop event, Smog token plans to attract the crypto community with its creative approach.
Smog Token’s “Biggest Airdrop Ever” Emphasis
The strategy of the Smog token revolves around the belief that “no meme coin can withstand the intense fire of SMOG.” This sentiment underscores the token’s goal of building a strong and interactive cryptocurrency community, dubbed the ‘Dragon Court’. Smog token aims to achieve extraordinary virality in the meme coin market by promoting interactive and gamified experiences.
SMOG aims to create social media excitement using innovative marketing strategies centered around “dragons.” In addition, SMOG allocated 35 percent of the total token supply, or 1.4 billion tokens, in order to conduct the largest airdrop ever. This strategy has already helped SMOG build a dedicated and supportive community.
To participate in the airdrop, investors simply purchase and lock Smog Tokens and then sign up for the Smog community on Zealy to accumulate additional airdrop points.
Tokenomics of SMOG
SMOG’s tokenomics includes a specifically designated 50 percent allocation for marketing efforts to ensure the project has the necessary resources to support major influencer campaigns. If SMOG manages to gain support from influential people, it has the potential to reach the same level of prominence as past Solana meme coins that received a lot of attention.
The token’s awareness is expected to increase if the team successfully achieves the goals outlined in Smog’s roadmap, which includes additional airdrops and the possibility of implementing a token burning mechanism.
Smog Token Highlights Trust
The success of the token is particularly remarkable considering that SMOG was launched without any prior advertising or excessive promotion. This shows that its popularity is solely due to genuine curiosity in the cryptocurrency community.
More importantly, the creators of SMOG have relinquished ownership… This means they cannot create additional tokens or make arbitrary changes to the smart contract. It is also said that the Smog token was created by the Web3 team behind successful projects such as SPONGE and SPONGEV2.
Ultimately, this increases SMOG’s legitimacy and credibility in the meme coin industry, which is sometimes affected by “pump and dump” scams.
The Smog token begins its journey with a comprehensive roadmap that highlights several key future milestones. The development of the project can be observed through features such as staking and potential burning mechanisms. Smog token aims to establish itself as a major participant in the meme coin ecosystem through the implementation of many airdrop launches and a strong commitment to engaging with the community.
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