The Solana meme coin sector has witnessed a major move as WAGMI token, a coin named after the rallying call of crypto hodlers ‘we’re going to make it!’, experienced a 15,000% increase in value.
This article will provide an analysis of WAGMI’s current price trends and look to see whether a newer meme coin, Smog, represents a more promising investment opportunity at this time.
Indeed, this price pump comes as recent months have seen a huge trend in explosive moves, with countless Solana meme coins garnering significant attention, including Croco, SpaceX, TurboMoon and Doge On Solana.
WAGMI token emerged as one of the biggest breakouts on Solana meme coin markets over the Superbowl weekend, with traders flocking to join the skyrocket up to $7.5m market cap.
Now, with the WAGMI development team promising the launch of their first marketing campaign over the next 24-hours, market sentiment remains astutely bullish – in defiance of retracement moves.
WAGMI Price Analysis: As WAGMI Token Remains in DEXTools Hot #5 – Is WAGMI On the Verge of Major Pump?
As price action coils-up into primed posturing, WAGMI token is currently trading at a market price of $0.0002550 (representing a 24-hour change of +40,770%).
The poised position comes after a major success on launch saw WAGMI token explode a jaw-dropping +15,000%, in a 7-hour skyrocket move that saw WAGMI establish an all-time high at $0.001380.
Yet, as early-backers took profit on the quickfire pump, retracement has since gripped price action, with WAGMI undertaking a -90% price correction down to current levels.
Despite an impressive $8m in trading volume over the past 24-hours, an attempt at a second rally leg saw an upside swing meet with rejection around 1AM (UTC) on February 12.
This has left WAGMI price consolidating back in an emerging supply zone between $0.000148 and $0.00043 – poising price for a third move to the upside.
To some degree, the retracement move has also been a health correction for WAGMI token’s market cap – which now stands at $244k – a much more alluring entry point for a coy investor that could offer a 4-8x return in the event of another breakout move.
But, this also exposes late entrants to vulnerabilities, for one sell transactions are currently applying pressure to holders at 47% of present transactions, and the relatively small $35k liquidity pool raises some red flags – especially as it is still unlocked (exposing investors to failed transactions in the event of a run, or worse, a honeypot trap).
For these reasons, smart money investors are shifting their attention to an alternative Solana meme coin investment with more reliable project fundamentals ahead of an exciting airdrop adventure campaign – SMOG token.
Introducing SMOG Token: Defiant New Solana Memebcoin Sets Out to Trigger Viral Airdrop Campaign in Meme Coin First
$SMOG champions the slogan “No meme coin can survive the fiery flames of SMOG,” offering holders access to the elite ‘The Dragon’s Court’ crypto community.
This community aims to achieve unmatched virality in the meme coin domain.
They do this by launching exciting, interactive, and continuous multi-airdrop campaigns to playfully engage users.
To participate, individuals must purchase and retain $SMOG, which allows them to earn airdrop points. Although the exact rewards and specifics of the airdrop campaigns are yet to be revealed, the sense of anticipation is growing.
Moreover, $SMOG holders can benefit from a community bounty produced by the campaign, further incentivizing the retention of their holdings.
SMOG Token Aims To Unlock Major Virality Through Airdrop Campaign Community – Huge 50% of Token Supply Designated to Marketing
The Smog project’s tokenomics highlight the team’s commitment to achieving viral success for their airdrop campaign.
Developers have earmarked a significant 50% of the supply for marketing, showcasing their ambitious plans.
They have reserved a significant 35% of the supply for future airdrop rewards, highlighting the promise of attractive prizes.
Efforts to decrease the circulating supply position the SMOG token for a stronger start compared to previous Solana meme coin surges like BONK, which has seen an impressive +862% year-to-date (YTD) gain despite its pullbacks.
Discover The Dragon’s Lair: Exploring Smog Token’s Extensive Roadmap
The project’s future is outlined in a detailed roadmap, showcasing several exciting milestones.
Key highlights include the introduction of a staking feature, suggesting upcoming airdrop initiatives. Additionally, discussions of a potential burn mechanism and plans for multiple future airdrop launches are noteworthy.
Uniquely, the project also lists the milestone target of achieving 10,000+ so-called ‘Loyal Chosen’.
Joining this exclusive and enigmatic group requires selection and a pledge to the SMOG realm via several community initiation rituals. This commitment comes with the promise of enhanced airdrop rewards.
How to Buy SMOG Token and Participate in SMOG Airdrop Campaign?
In order to participate in the SMOG airdrop campaign, traders will need to use a Solana-compatible wallet such as Phantom.
To improve your likelihood of selection for the Loyal Chosen and enhance your airdrop earnings, engage in completing the community task list on Zealy.
Explore the Lite Paper to find out more.
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