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Emerging from the year of the dragon is Solana’s hottest new airdrop, Smog. But after a parabolic opening 24 hours, the project made a shocking announcement that it is going multi-chain.
Leveraging the leading cross-chain service Wormhole, Smog will now be available on Ethereum and Solana, marking a new paradigm in meme coin technology and accessibility.
Smog garnered immense excitement on launch, rising over 1,400% in its first hour and continuing its momentum since, up 14.39% today.
The latest data from Smog reports over 10,250 holders, illustrating massive community interest. Meanwhile, DEX Screener data shows that bulls are in control, with over 3,600 buys to 1,900 sells since its launch.
Smog has gone from success to success, gaining tremendous market excitement with its recent Ethereum launch announcement, getting over 500 likes. But the team is raising the stakes, explaining a bigger announcement is coming.
ERC-20 Smog Buy-and-Stake Goes Live With 42% Annual Percentage Yield
The Smog team announced today that investors can now buy and stake SMOG through the project’s website.
Smog launched on Ethereum via Wormhole using Portalbridge.com – a cross-chain protocol with $1 billion TVL. Bridging requires a Smog ETH liquidity pool, which has ushered in staking for the ERC-20 Smog.
The buy and stake launch announcement also explained staked tokens will accrue a 42% annual yield, with an initial 3-month lockup period.
Over-the-counter (OTC) and decentralized exchange (DEX) Smog purchases can be staked, and rewards can be claimed on the unlock date.
Staking is only available on the ERC-20 Smog. However, Solana holders can bridge their tokens to the ERC-20 version on Portalbridge and deposit them on the Smog website.
The newly launched staking mechanism is expected to soften sell pressure, enabling a steady upward trajectory for the Smog price.
With staking driving up demand and airdrop hunters rushing to secure the first cross-chain meme coin airdrop, Smog is quickly cementing itself as one of the market’s most promising projects.
Smog Price Analysis: Is There Room For Growth After 8,337% Pump?
As the latest meme coin innovator, Smog has seen unprecedented growth, soaring 8,337% from its initial launch price on DEX Screener.
But such a price move raises concerns about whether there is room for growth or if a pullback might be imminent.
Luckily for those yet to buy, Smog still holds a relatively low market cap, current at $51.2 million. Solana’s leading meme coin, Bonk, peaked at a $2 billion market cap, providing room for almost a 20x.
Meanwhile, the runner-up meme coin, Dogwifhat, flirted with a $1 billion market cap at its ATH.
However, a crucial consideration is the influx of Ethereum liquidity. Typically, Ethereum’s higher fees mean traders on the network have deeper pockets.
In the last bull run, numerous Ethereum meme coins hit impressive market caps. For instance, Shiba Inu hit $37 billion, and Dogelon Mars hit $1.2 billion. Meanwhile, Pepe hit $1.8 billion in 2023.
Leading analysts have started to rally behind Smog, with renowned Sjuul from AltCryptoGems recently saying it caught his eye.
Considering these factors, plus the pressing crypto bull run, it seems Smog has lots of upside potential.
How Does Smog Work and What Is Its Airdrop?
Hoping to break the mold on Solana meme coins, Smog sets its sights on “vaporizing all his foes.”
This dragon-themed meme coin makes a timely debut with the Lunar New Year kicking off today, which marks the year of the dragon.
Whether Smog’s design was coincidence or genius is unknown, but it could present a massive selling point for the Asian market.
Hopping onto the airdrop trend, Smog offers a multi-airdrop campaign that gamifies the experience for users.
It invites the community to complete tasks and daily quests, as well as buy and hold SMOG to receive their share of the airdrop supply.
The community initiative has been attributed to Smog’s virality, which is likely a key draw for its 10,250 holders.
Launch to Mastery: The Smog Roadmap
With the team’s ambition evident in its recent announcements, traders can look no further than the Smog’s roadmap to understand its potential.
Smog’s roadmap is split into three phases, but the quick-witted team is making substantial progress, already achieving all the phase one and several phase two goals.
Token burn speculation is rampant, which would send a portion of Smog’s supply to the shadow realm, increasing the value of the remaining tokens.
The airdrop also targets “100,000+ Chosen Warriors” alongside more airdrops and social mastery. Such plans illustrate the team’s grass-roots focus, a telling factor in Smog’s impressive performance thus far.
How to Buy Smog Token and Join the Smog Airdrop Campaigns
There are multiple ways to buy Smog now that the token is multi-chain. Solana users can buy Smog from one of the network’s seamless DEXs like Jupiter or Birdeye.
Getting started requires a Solana-compatible wallet like Phantom and crypto that can be exchanged for SMOG such as SOL, USDT or BONK.
Ethereum users can buy Smog with an Ethereum-compatible wallet like MetaMask and ETH or USDT. Currently, Ethereum users can only purchase Smog from the project’s website.