Smog price surged 94% to $0.2481, and trading volume surged nearly 400% as of 03:25 EST. After Bitcoin price weakness, Smog, as a blockchain token, became an outlier among "meme coins", and other related tokens fell in price.
However, Smoke could also face downside risks as its relative strength index (RSI) is showing flat levels but trending south. The RSI position above 70 also suggests that the asset is overbought, which means Smoke could be due for a correction.
However, it is important to consider that any downside move could be an opportunity to buy the smoke at a lower price before prices recover.
Currently, Smoke remains bullish and the price firmly maintains a bullish posture. Smoke price could rise to $0.3131 or higher to set new all-time highs and surpass the $0.3500 threshold. Such a rise would exceed the current level by 40%.
However, if the bears gain the upper hand, the Smoke price could decline. To invalidate the bullish view, the market cap of this Solana-based memecoin must drop and close below the 38.2% Fibonacci Retracement level of $0.1215.
Recent reports show that Smoke has attracted increasing attention, with some big players rushing to buy up to $26,000 worth of tokens, which could boost the upside potential of this Solana-based meme coin.
Smoke Token is the fastest growing meme coin in the Solana ecosystem and has been performing well since its launch, attracting a large number of users. Smoke Token set a high bar when it was launched, providing the largest airdrop ever to the Solana ecosystem. However, to be eligible to participate in the airdrop, Smoke Token holders must actively participate in the staking program.
In addition, the Smoke team is also actively promoting multi-chain debuts to expand its reach and value. There are also plans to launch the token on other decentralized exchanges (DEX) and centralized exchanges (CEX). Achieving these milestones will most likely propel the project to new heights.
However, as memecoins are undergoing a correction, investors are looking for projects that can provide good returns on investment to diversify their portfolios.
One notable candidate in this regard is Sponge V2, a popular meme-based game finance (GameFi) token that has gained 1,31% in the past month.
Sponge V2 enters the market with a unique transaction fee, liquidity and staking strategy that builds on the success of its predecessor. While it maintains the attractive viral meme token features of its predecessor Sponge V1, the second version introduces token utility that could lead to continued growth in long-term demand.
Sponge V2 entered the market in May 2023. Early investors experienced a similar upward trend as PEPE, with the token market value soaring to $100 million, bringing holders up to 100 times returns. This rapid growth was due to listings on more than a dozen well-known exchanges including MEXC, LBank, Poloniex, Gate.io, etc. Sponge has more than 13,000 token holders and has 30,000 social media followers.
The initial price of Sponge V1 was $0.000025, while Sponge V2 is currently priced at $0.001581, an increase of 6,324%. In the past month, the token has risen by more than 131%.
If you haven’t been able to benefit from Sponge’s past success, you still have the opportunity to invest in Sponge V2 before it is launched on other major exchanges soon.
Building on the success of Sponge V1, V2 aims to provide more utility and rewards while retaining the core elements of a meme token.
Sponge tokens now run on the Polygon network. This latest migration provides cheaper and faster transactions and mitigates the impact of ERC-20 smart contract hacks. Over $12 million of V1 tokens have been staked and bridged to SPONGEV2 in the past month.
You can purchase or stake $SPONGE through the widget on spongetoken.vip to receive additional V2 tokens and continue staking V1 Sponge tokens to accumulate more V2 tokens.
The Sponge V2 team is also developing a unique Play to Earn (P2E) game that introduces new utility. Players can earn $SPONGEV2 tokens by participating in the game and achieving high rankings on the leaderboard.
The game is available in free and paid versions, and users can play for fun or purchase game credits using Sponge V2 tokens for additional passive earnings.
Crypto analyst Jacob Crypto Bury believes that Sponge V2 has 100x potential when it launches. If you are interested, you should buy it as soon as possible because there are rumors that Sponge V2 will be listed on new exchanges soon.
Visit the website and purchase the Sponge V2 here.
Also read:
The top 7 small coins that will surge before Bitcoin halving - the next 10x coin that is about to explode
Sponge staking and bridging exceeded $10 million, with Ethereum and Polygon SPONGE V2 yielding 190% and 968%
Is Sponge V2 the best alternative coin with over $12 million staked?
Sponge staking and bridging exceeded $10 million, with Ethereum and Polygon SPONGE V2 yielding 190% and 968%
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