The memecoin craze on the Solana blockchain continues, with new project Peng becoming number one on DEXTools.io’s list of popular tokens and recently reaching an all-time high.
Memecoins have seen impressive gains in recent weeks. Many new projects entered the top 100 last month. Meanwhile, Dogecoin (DOGE) and Shiba Inu (SHIB) came close to entering the top 10.
Solana (SOL)-based memecoins like Bonk (BONK) and dogwifhat (WIF) have seen a sudden surge in price. But now, a new SOL-based memecoin called Peng (PENG) has caught the attention of the crypto world.
While there are dog-themed memecoins like $DOGE and $SHIB, and frog-themed memecoins like Pepe (PEPE), Peng (PENG) stands out with its penguin theme.
Peng – The Latest Memecoin Craze on Solana
Peng (PENG) not only exudes charm, but also pioneers innovation within the crypto space. The project aims to revolutionize decentralized finance (DeFi) and meme token culture while bringing warmth and liquidity to the Solana chain.
Peng aims to make a significant impact on the cryptocurrency space by actively encouraging users to participate in its vibrant community. Regardless of their experience level, users can participate in the development of the project and contribute to the expansion of the Solana ecosystem.
In addition to the community-driven approach, Peng has also established strategic partnerships with well-known platforms such as Coinmarketcap, DEXSCREENER, GOTBIT, and DEXTOOLS to boost its visibility. In addition, the coin has been listed on well-known exchanges such as MEXC, Bitmart, Jupiter, Raydium, Poloniex, Bitget, and Lbank.
The cryptocurrency market is experiencing another bull run as Bitcoin (BTC) reaches new all-time highs. Against this backdrop, Peng (PENG) is expected to make significant progress on the leaderboard. Being based on the Solana blockchain, Peng is expected to enter the ranks of the top 100 projects in the near future.
Peng Price Prediction
In the past 24 hours, Peng’s price has surged by 1,001 TP3T to $1.15 at the time of writing, accompanied by a 1,511 TP3T trading volume increase. Peng has gained more than 10,001 TP3T since its launch on the Solana blockchain last week.
The excitement around Peng doesn’t seem to be stopping. Peng now has over 23,000 holders and a market cap of $115 million. To put that in perspective, that’s more than many other legal tokens and DeFi projects that have recently launched on Solana.
$PENG’s popularity was due to its growing influence on social media platforms, especially Twitter, where it gained more than 17,000 followers in a week. Despite the limited use of the token, retail traders still rushed to invest in Peng, triggering a major bull run.
Even some influencers have noticed Peng’s sudden popularity. @CryptoTalkMan, who has over 54,000 followers, tweeted that 2024 is “the year of the penguin.” Analysts are optimistic about Peng’s future, with some suggesting that its price could surge to $2 in the coming days.
Peng Token Economics – Why does $PENG look like $PEPE?
Despite the surge in popularity of $PENG, many traders are still confused about what exactly this project is. It turns out that $PENG is riding the craze caused by Pepe (PEPE) to become one of the biggest meme coins.
As its website states, $PENG is a cartoon penguin similar to Pepe the Frog, but with its own unique twist. The project’s creators embraced the similarities and positioned $PENG as a “trendy new addition to the Solana blockchain.”
However, aside from the playful branding, Peng Token seems pretty standard compared to other memecoins at this point. Its token economics include a total supply of 100 million and no taxes on buying or selling. They also permanently burn liquidity to prevent potential problems.
In addition to the $PENG rally, the team also announced plans to give out $100,000 to holders of the popular Pudgy Penguins NFT series. As excitement about $PENG quickly grows, investors are eager to get in on the action before the token becomes more widely known.
Another next big memecoin based on Solana
Although the $PENG token has received a lot of attention on DEXTools.io, there is another exciting project called Smog that deserves attention. Unlike $PENG, which is known for its simple design, SMOG positions itself as a multi-chain meme coin.
Although it originated on Solana, $SMOG has expanded to Ethereum, attracting a wider range of potential investors. What caught people's attention was $SMOG's massive airdrop event, in which more than one-third of the total token supply was reserved for community members.
In addition to the fun mission system on Zealy, SMOG has built a community much faster than many other memecoins on Solana. The airdrop surrounding SMOG triggered a surge in its price and social media attention.
Today, SMOG rose 28% to $0.25, and according to data from cryptocurrency analysis platform birdeye.so, 99% of investors are optimistic about its prospects. For those who missed the initial excitement with $PENG, $SMOG may be another opportunity to participate in the memecoin craze on Solana.
Additionally, since $SMOG provides holders with an annual yield of 42%, this is also an opportunity for those looking for passive income. To be part of this exciting new project, purchase $SMOG tokens here.
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