A new Taylor Swift-inspired token is the latest Solana meme coin to skyrocket after a sensational +298,583% move.
This article will provide an analysis of TAYLOR’s current price trends and look to see whether a newer meme coin, SMOG, represents a more promising investment opportunity at this time.
May I ask if this is like the recent $TATE and $TAYLOR tokens you asked the community to associate please?
— ELJAYGEE| DEFIANTS COMING SOON (@Leon_Gallaher) February 23, 2024
TAYLOR token appears to be a fairly organic on-chain pump, with very little traction apparent on crypto X (formerly Twitter), however, in a potential red flag – discussion surrounding the token has been connected to TATE coin – which has been labeled a scam by some in the space.
TAYLOR Price Analysis: As Taylor Swift Tumbles Down From Recent All-Time High – Is TAYLOR Still The Best Play?
With price action in free-fall, Taylor Swift is currently trading at a market price of $0.0045 (representing a 24-hour change of +170,176%).
This comes after a strong technical rally broke out at 10:00 UTC on February 22, with an initial +3,550% pump giving way to retracement down to lower support at $0.0002122.
A well-defended consolidation by TAYLOR holders here set the stage for a stunning rally move – triggered at 21:00 UTC on February 22.
An influx of $64.27k in 24-hour trading volume, fuelled price on a dramatic +3,915% climb, delivering early backers a sensational gain of 298,583%.
However, it appears those quickfire investors are now taking profit, with price hammering down in a potentially tumultuous retracement move.
A potential lower support area is available between $0.00274 and $0.0035, if TAYLOR price is able to catch a foothold here, this could set the stage for a continuation of the rally.
Yet, this must first overcome a flood of sell-pressure, which has dominated price action over the past hour representing 90% of transactions.
Despite this wave of selling, TAYLOR also offers a reasonably good entry at current levels, with a lowly $368k market cap offering the opportunity for 3-5x returns on the short-time frame.
This does involve a degree of risk due to TAYLOR’s minuscule liquidity pool of just $18k, that also exposes holders to additional risk due to unlocked status.
For this reason, smart money investors are shifting their attention to a safer play – SMOG – which offers the opportunity to participate in a high-octane airdrop campaign on Solana over coming months.
Better Play Than TAYLOR Price Analysis? SMOG Token – Defiant New Solana Meme coin Sets Out to Trigger Viral Airdrop Campaign
$SMOG champions the slogan “No meme coin can survive the fiery flames of SMOG,” offering holders access to the elite ‘The Dragon’s Court’ crypto community.
This community aims to achieve unmatched virality in the meme coin domain.
They do this by launching exciting, interactive, and continuous multi-airdrop campaigns to playfully engage users.
To participate, individuals must purchase and retain $SMOG, which allows them to earn airdrop points. Although the exact rewards and specifics of the airdrop campaigns are yet to be revealed, the sense of anticipation is growing.
Moreover, $SMOG holders can benefit from a community bounty produced by the campaign, further incentivizing the retention of their holdings.
SMOG Token Aims To Unlock Major Virality Through Airdrop Campaign Community – Huge 50% of Token Supply Designated to Marketing
The Smog project’s tokenomics highlight the team’s commitment to achieving viral success for their airdrop campaign.
Developers have earmarked a significant 50% of the supply for marketing, showcasing their ambitious plans.
They have reserved a significant 35% of the supply for future airdrop rewards, highlighting the promise of attractive prizes.
Efforts to decrease the circulating supply position the SMOG token for a stronger start compared to previous Solana meme coin surges like BONK, which has seen an impressive +862% year-to-date (YTD) gain despite its pullbacks.
Discover The Dragon’s Lair: Exploring Smog Token’s Extensive Plans to Beat Taylor Swift
The project’s future is outlined in a detailed roadmap, showcasing several exciting milestones.
Key highlights include the introduction of a staking feature suggesting upcoming airdrop initiatives. Additionally, discussions of a potential burn mechanism and plans for multiple future airdrop launches are noteworthy.
Uniquely, the project also lists the milestone target of achieving 10,000+ so-called ‘Loyal Chosen’.
Joining this exclusive and enigmatic group requires selection and a pledge to the SMOG realm via several community initiation rituals. This commitment comes with the promise of enhanced airdrop rewards.
How to Buy SMOG Token and Participate in SMOG Airdrop Campaign?
In order to participate in the SMOG airdrop campaign, traders will need to use a Solana-compatible wallet such as Phantom.
Then using SOL, USDT, or BONK tokens users can swap for Smog via the Jupiter DEX aggregator or Birdeye.
To improve your likelihood of selection for the Loyal Chosen and enhance your airdrop earnings, engage in completing the community task list on Zealy.
Join the Smog community on X (Twitter), Discord, and Telegram to stay tuned with the latest news and updates.
Explore the Lite Paper to find out more.
The post Viral TAYLOR Skyrockets 298,583% in a Day: Here’s the Next Low Cap Gem to Watch appeared first on Cryptonews.
