Solana Meme Coin Hype: A 90% Increase in PENG Value, with SMOG Likely to Follow
Solana’s meme coin market is experiencing a remarkable upsurge as PENG, a penguin-themed meme coin, has witnessed a staggering 90% increase in its value within a day. Now standing third in DEXTools.io’s trending tokens list, PENG’s monumental leap to a market cap of $61 million surpasses several recently launched utility tokens and DeFi protocols on Solana. This significant rise is attributed to the influx of retail investors into the market. Despite limited use cases, PENG’s soaring popularity is largely due to its growing social media presence, which has sparked a bull run among retail traders. Capitalizing on the ongoing Pepe frenzy, PENG is presented as a ‘chilled addition’ to the Solana blockchainThink of blockchain as a digital ledger that records transactions in a transparent, tamper-proof way. It's a chain of transaction blocks linked chronologically.. The excitement surrounding the token has been further amplified by the announcement of a $100,000 airdrop planned for Pudgy Penguins NFT collection holders. While PENG has dominated the conversation, SMOG, a relatively lesser-known token, is potentially gearing up to be the next big Solana meme coin pump. SMOG, a multi-chain meme token, has already made the transition to EthereumEther (ETH) is used to pay for computation and token swaps on Ethereum. Users "fuel" smart contracts and DApps with ETH., thereby gaining access to a broader pool of investors. SMOG’s significant airdrop campaign and innovative quest system on Zealy have rapidly built a dedicated community. The token’s value and social sentiment are on an upswing, making it a promising prospect for those seeking passive income. The keyword phrase, ‘Solana meme coin pump’, is a fitting description of this current trend.
Not financial advice. Always be safe and secure when dealing with cryptocurrency. Never send anyone your private key. Always Do Your Own Research..DYOR..DYOR..DYOR!
Source article…
