Smog Token recovered by an impressive 245% since its Monday price drop as traders re-positioned themselves in the airdrop meme coin sensation.
Smog Token (SMOG) went viral last week after its fair launch on Jupiter DEX on February 7th. SMOG fell 50% on Sunday after surging by 3,000%, but this week’s 245% recovery allowed it to regain all of its losses.
With SMOG moving higher again, traders wonder if this viral meme coin can produce another huge return from current prices.
SMOG Sees Impressive 245% Recovery Following Monday’s Correction
SMOG has now recovered by an impressive 245% since the lows seen on Monday as the viral sensation starts to recover from its initial post-launch pullback.
The meme coin launched on Jupiter last week and instantly soared by over 3,000% in its first three days, reaching a market cap high of $67 million.
Like most meme coins, SMOG then experienced a pullback, dropping by over 55% on Monday to reach a low of around $0.03.
It has since rebounded from this support, recovering all of the losses incurred at the start of the week;
At the time of writing, SMOG trades at $0.075 and has 19,500 holders on the Solana chain alone. The project continues to sustain an impressive liquidity pool of almost $1.6 million, with $1.8 million in trading volume over the past 24 hours.
Why Is $SMOG Gathering So Much Attention?
SMOG went viral by introducing a novel airdrop mechanism to the meme coin sector.
The meme coin allows traders to buy and hold SMOG to earn airdrop points and participate in what’s described as “the greatest airdrop of all time.”
The team has allocated an enormous 35% of the total SMOG supply to facilitate the airdrop.
Furthermore, the project continues to gather attention due to its Zealy campaign, allowing users to accumulate more airdrop points.
Zealy is a platform for projects to build social engagement through quests and tasks to earn rewards. For SMOG, users are required to complete tasks such as following the X account and joining the Discord community to accumulate airdrop points.
Currently, the Zealy campaign has seen an enormous 55,000 quests completed – demonstrating the enormous hype building for the airdrop spectacle.
Finally, Smog Token hit the headlines again this week after announcing its plans to dominate two chains by bridging the token onto Ethereum through Wormhole.
The bridge allows SMOG holders to trade the token either on Solana or Ethereum, providing a deeper liquidity pool for the meme coin. This means SMOG is now a top-trending meme coin on two of the hottest blockchains in the industry.
The Ethereum pool has an impressive $600,000 liquidity, witnessing over $300,000 in trading volume over the past 24 hours.
Can it Produce Another Huge Return?
With SMOG intending to follow the success of previous SOL-based meme coins like BONK and WIF, a huge return from current prices is most likely on the table.
The project has managed to gain an overwhelming level of social engagement as a result of its Zealy campaign and airdrop anticipation.
The fact that it launched fairly on Jupiter with no presale makes it a prime example of a project that adheres to the meme coin aficionados, helping it continue its impressive growth. In addition, SMOG clearly understands why meme coins grow after proving its liquidity is locked through Team Finance.
Furthermore, SMOG couldn’t have launched at a more perfect time. With the trading volume on Jupiter exceeding the giant Uniswap DEX, the timing of this meme coin’s launch has helped it achieve a viral status.
With a clearly experienced Web3 marketing team driving, some stating it could be the same anon team behind Dogwifhat or Spongebob Token, SMOG has a clear route to another 10x return from current prices with its building volume, ongoing Zealy campaign, and incoming airdrop spectacle.
How to Buy SMOG
SMOG is now on both Ethereum and Solana blockchains, providing two chains from which to purchase the token.
The best place to buy SMOG is over-the-counter (OTC) through the project’s website, which offers a 10% discount on purchases. The token can be bought with ETH, USDT, or a credit card.
Alternatively, SMOG can also be purchased on Jupiter using Solana.
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