The Solana meme coin frenzy shows no signs of cooling off, with Peng (PENG) exploding over 90% in the past 24 hours. This brand-new project is now ranked third on DEXTools.io’s list of trending tokens as new money keeps pouring in from retail investors. With meme coin mania in full swing, some traders speculate that Smog (SMOG) could be next to experience another bullish leg. PENG Token Rallies & Reaches 19,000+ Holders PENG has been on a tear in the past day, with the penguin-themed meme coin now trading at %excerpt%.594. The rally has added to PENG’s astonishing 5,000%+ gains since it launched on the Solana blockchain last Tuesday. This speculative frenzy shows no signs of slowing, with PENG now boasting over 19,000 holders and an eye-watering million market cap. For
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The Solana meme coin frenzy shows no signs of cooling off, with Peng (PENG) exploding over 90% in the past 24 hours.
This brand-new project is now ranked third on DEXTools.io’s list of trending tokens as new money keeps pouring in from retail investors.
With meme coin mania in full swing, some traders speculate that Smog (SMOG) could be next to experience another bullish leg.
PENG Token Rallies & Reaches 19,000+ Holders
PENG has been on a tear in the past day, with the penguin-themed meme coin now trading at $0.594.
The rally has added to PENG’s astonishing 5,000%+ gains since it launched on the Solana blockchain last Tuesday.
This speculative frenzy shows no signs of slowing, with PENG now boasting over 19,000 holders and an eye-watering $61 million market cap.
For context, that’s larger than many legitimate utility tokens and DeFi protocols launched on Solana in recent months.
Driving the buzz is PENG’s rapidly growing social media presence, with the token amassing over 14,000 followers on Twitter in just one week.
PENG’s use cases are still scarce, but that hasn’t stopped droves of retail traders from piling in and sparking a full-blown bull run.
The token’s meteoric rise has even turned heads in the influencer space.
@CryptoTalkMan, who has over 54,000 followers, tweeted that 2024 is the “year of the penguins.”
PEPE Vibes & Huge Airdrop Fuel Peng’s Rise
Although PENG has been going parabolic, many traders are still scratching their heads over what this project is all about.
As it turns out, PENG is capitalizing on the recent mania surrounding Pepe (PEPE) – the world’s third-largest meme coin by market cap.
According to its website, PENG depicts a cartoon penguin that bears more than a passing resemblance to Pepe the Frog but with a unique twist.
The project’s creators are leaning into this association, branding PENG as the “icy addition to the Solana blockchain.”
Beyond the cheeky branding, however, the Peng token appears to be a fairly standard meme coin so far.
Its tokenomics include a capped supply of 100 million tokens with no taxes on buys or sells.
Liquidity has also been permanently burned to prevent rug pulling down the line.
Helping fuel PENG’s ascent, the team has also announced plans for a $100,000 airdrop to holders of the popular Pudgy Penguins NFT collection.
As the hype around PENG continues to snowball, investors are clamoring to get involved before the token goes mainstream.
SMOG’s Staking Yields & Growing Community Position It as Solana’s Next Meme Coin Gem
While the PENG token has been stealing the spotlight on DEXTools.io, another buzzworthy project by the name of Smog may be a dark horse to watch out for next.
Unlike PENG, which thrives off a simplistic design, SMOG has taken a more strategic approach by positioning itself as a true multi-chain meme coin.
Though initially launched on Solana, SMOG has already bridged to Ethereum – tapping into a larger pool of potential investors.
What’s really turned heads is SMOG’s enormous airdrop campaign, which sets aside over a third of the total token supply for community members.
Combined with an innovative quest system on Zealy, SMOG has created a devoted community faster than many of its peers in the Solana meme coin space.
The buzz around SMOG’s airdrop has sent the token’s price and social sentiment soaring.
SMOG is up 22% today to $0.1995, with 99% of investors expressing bullish sentiment, according to crypto analytics platform birdeye.so.
For those who missed the initial PENG pump, SMOG could be a second chance to participate in the hype surrounding Solana-based meme coins.
Additionally, since SMOG offers yields of 42% per year to stakers, it presents an opportunity for those seeking passive income.
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