Bittime - Crypto assets of the memecoin type ceaselessly steal the public's attention. Most recently, meme coins, PENG and SMOG, have recorded tremendous price increases. Not only the price, the community of these two memecoins is also growing rapidly.
What is PENG?
PENG is a memecoin that operates on the Solana blockchain. Recently, the coin experienced a significant price surge, trading for $0.8961 with a 100% gain in the last 24 hours. At the time of writing, PENG is trading at $1.77 per token based on CoinMarketCap data, 2024.03.15.
The coin has attracted attention for its rapid growth on social media, especially on Twitter, where it has gained over 14,000 followers in one week.
Despite its limited use, PENG has lured retail traders and fueled a price surge, with influencers predicting a bright future for the coin. It is important to note that investments in high-risk assets such as these should be approached with caution, as they can be highly speculative and volatile.
PENG Price Surge
PENG, with its cute penguin theme, has soared all the way to $0.594, marking a gain of more than 5,000% since its debut on the Solana blockchain. The coin now has over 19,000 holders and a market cap that stands at $61 million, an impressive number compared to many recently launched utility tokens and DeFi protocols.
PENG's ever-growing social media presence, with more than 14,000 followers on Twitter, has attracted great interest. Although the use case is still limited, this does not deter retail traders from triggering significant price increases. In fact, crypto influencers @CryptoTalkMan have declared that 2024 is the "year of the penguin," adding more fanfare around this meme token.
Take Advantage of PEPE's Popularity
PENG has capitalized on the popularity of Pepe (PEPE), the world's third-largest meme coin, by depicting a cartoon penguin similar to Pepe the Frog. With a limited supply of 100 million tokens and liquidity burned to prevent sudden drawdowns, PENG promises stability. A massive $100,000 airdrop for Pudgy Penguins NFT holders has been announced, adding to the hype around this token.
PENG and SMOG
In addition to PENG attracting the interest of the crypto community, SMOG has taken a more strategic approach by positioning itself as a true multi-chain meme coin, linking Solana with Ethereum.
SMOG's massive airdrop campaign has prepared more than one-third of the total supply of tokens for its community members, which has helped build a loyal fan base. With the price rising 22% today to $0.1995 and 99% of investors expressing bullish sentiment, SMOG offers a yield of 42% per annum to stakers, making it an attractive option for those looking for passive income.
Conclusion
Both of these meme coins show great potential in the crypto market and offer unique opportunities for investors to get involved in the rising trend of memecoins. Memecoin is known for having a strong community and clever marketing strategies, PENG and SMOG may be the next treasure trove in the crypto world.
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Also Read:
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Will BEFE and PEPE Memecoins Skyrocket like LUNC Burn?
What is WOOF (WOOF)? Memecoin with an Interesting Story
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