Solana whales eye new meme coin smog, seeing significant gains

Solana-based meme coin Smog has quickly become a focal point for investors, witnessing a sharp 64% rise in its price within just one day.

Smog is a multi-chain meme coin “running the greatest airdrop of all time.” Over the past 24 hours, the project has become one of the market’s top-performers, garnering immense whale interest. 

With a $186 million market cap, smart money is rushing to secure outsized gains, which, in turn, has catapulted its price by 64% today.

16 buys over $10K in 7 hours

DEXTools data shows a slew of high-value orders have flooded the market, skyrocketing demand side trading activity and causing Smog’s price to explode.

In the last seven hours, Smog has received 16 $10K or higher orders. The most significant recent buy-in amounts to a whopping $26K.

The immense whale interest is a nod of approval from the industry’s smart money players, a tell-tale sign of further upside potential.

However, being the leading Solana meme coin not listed on Binance or Coinbase, these whales may know something the broader market does not.

T1 exchange listing imminent for smog?

As a dragon-themed meme coin, Smog “reigns over the crypto battlefield, incinerating all his foes.”

One way it will ”incinerate” other meme coins is through its highly anticipated airdrop, with 35% of its total supply allocated to the giveaway.

 At the time of writing, Smog is only available on decentralized platforms.

Solana’s top dogs Bonk, Dogwifhat, and Myro, have all been listed on Binance.

Since Smog is the next most significant Solana meme coin, it could be next in line should Binance seek to expand its offerings.

Smog is outperforming the market with a 64% increase

Having pumped 64% in the last 24 hours, Smog is today’s of of the best-performing meme coin with a market cap of over $20 million. 

Its increase has added $70 million to its market cap in 24 hours, while other Solana-based meme coins have remained stagnant. 

Smog’s price performance is powered by a vast community of over 50K holders, 34K X followers, and 16K Telegram. The project was launched in February.

While the vast airdrop has played a role in Smog’s allure, analysts argue that Smog’s multi-chain functionality is another key factor in its success.

The brains behind Smog’s brawn

With a 42% staking APY, Smog has a community-first approach centered on most meme coins.

As well as rewarding holders and adding utility, Smog’s staking mechanism will minimize the token’s sell pressure, enabling incoming demand to bolster its price.

According to its website, another 50% of tokens are allocated to marketing. This ensures the project’s long-term potential, potentially being used to secure centralized exchange listings or influencer partnerships.

Another 10% of tokens are earmarked for CEX liquidity, and the remaining 5% are for DEX liquidity.

Market participants can enjoy a 10% limited discount when buying $SMOG on the project’s website.