SMOG, the wildly popular meme coin on the Solana blockchain, reached a significant milestone with the conclusion of the first phase of its $1 million airdrop program.
Smog’s quick run to over 110,000 users demonstrated its ability to win over the community in the crowded meme coin space.
While Phase 1 has drawn to a close, those who missed out needn’t worry—the doors remain open for the second airdrop season. New users can still secure their place by purchasing SMOG tokens and completing tasks on the Zealy platform.
Community engagement lies at the heart of SMOG’s success, evidenced by the staggering 7.5 million quests completed collectively by users through the project’s quest board.
These quests, ranging from daily challenges to community-driven initiatives, provide participants with opportunities to increase their airdrop rewards.
What’s more, SMOG was listed on the MEXC exchange last Thursday, and more listings are planned for the weeks ahead.
Let’s dig deeper into SMOG and several other promising meme projects.
Slothana ($SLOTH) – Another Successful SOL-Based Meme Coin
The crypto space recently saw another Solana meme coin hit come to life – Slothana ($SLOTH).
Drawing inspiration from the quirky concept of a lazy office sloth abandoning its day job to pursue the lucrative world of cryptocurrency trading, Slothana aims to captivate investors with its unique narrative.
Slothana’s ambitions are fueled by the success of other established Solana meme projects, such as BOME and SLERF, which have already generated billions of dollars in value.
Off to a promising start, Slothana has raised more than $10 million in just a couple of weeks since launching its presale.
One of the key selling points of Slothana is the ease with which investors can participate in the presale.
Users can directly transfer their SOL holdings to the designated crypto wallet address: EnSawje2vQSQKtGbPYdXEuYKm2sHgeLKJTqCmrDErKEA.
After it receives the funds, Slothana instantly airdrops $SLOTH tokens to the user’s cryptocurrency wallet.
As the meme coin craze continues to captivate the crypto community, Slothana’s unique narrative and straightforward investment process have positioned it as a promising contender in the Solana ecosystem.
With its early success in raising funds and garnering attention, Slothana aims to establish itself as another leader in the SOL network.
Dogecoin 20 ($DOGE20) – New Dogecoin Derivative Raises Over $10M in Less Than a Week & Prepares for a Bullish Launch
Another promising meme project is Dogecoin20 (DOGE20), a Dogecoin derivative that created an eco-friendlier network than its inspiration.
In less than a week, DOGE20 raised $10 million during its crypto presale, meeting its target amid the ongoing meme coin frenzy.
An important aspect of DOGE20 is the strategic selection of April 20th, 2024, as the token’s claim date, widely recognized as a “DOGE Day” by the community.
Unlike Dogecoin, DOGE20 uses an eco-friendly proof-of-stake consensus mechanism, addressing environmental concerns associated with traditional mining. With a maximum circulating supply of 140 billion tokens, the project aims to tackle the issue of infinite inflation dynamics present in Dogecoin.
DOGE20’s tokenomics structure includes allocations of 25% for the presale, 25% for marketing, 25% for the treasury, 15% for staking rewards, and 10% for DEX liquidity.
A key feature of DOGE20 is its staking program, which allows holders to stake their tokens and earn passive rewards. According to the project’s website, the current staking rewards offer an annual percentage yield (APY) of over 60%.
The high demand for DOGE20 during the presale led to the $10 million hard cap being reached within a week. To accommodate additional demand, the team announced a ‘Last Chance To Buy’ stage, offering a limited opportunity to purchase the token before its launch on exchanges.
You can buy DOGE20 on the project’s website, for a $0.00022. Experts predict this price point will go over the moon after the halving and the DOGE day launch.
Sponge V2 ($SPONGEV2) – Expanding on the Last Year’s $100M MCAP Altcoin
Sponge V2 ($SPONGEV2) aims to build upon the success of its predecessor, Sponge V1.
This new iteration offers enhanced utility and rewards while maintaining the core elements that made the original token a hit among traders.
The primary goal of Sponge V2 is to overcome V1, with investors required to lock their V1 tokens into the V2 smart contract to receive the new V2 tokens.
This transition process provides investors with two options: purchase V1 tokens and stake them in the official staking pool or, for existing V1 holders, bridge their holdings to V2 via a simple staking mechanism.
Once the remaining supply of Sponge V1 is sold out, Sponge V2 will become available for claim. This approach ensures that investors receive equal V2 tokens in their wallets post-launch, corresponding to the number of V1 tokens staked.
Additionally, Sponge V2 introduces a staking rewards program. The variable annual percentage yield (APY) is set for four years and is currently around 189%.
This means that investors who stake more V1 tokens will receive a greater number of V2 tokens in return.
It is important to note that once V1 tokens are staked, they will be permanently locked, signifying a definitive shift away from the original token following the launch of Sponge V2.
Furthermore, the recent migration to the Polygon network is expected to offer cheaper and faster transactions while also limiting the impact of the ERC-20 smart contract hack, enhancing the security and efficiency of the project.
Conclusion
The crypto market has been bearish for the past two weeks, with Bitcoin and other altcoins experiencing major dips.
However, this bears normal market behavior leading to the halving event, which typically follows strong bullish sentiment.
It’s important to note that most of the tokens we’ve discussed today remain in their presale stages, meaning the ongoing market movements have not affected them.
This positions them favorably to weather the current market downturn and capitalize on the anticipated bull run after the halving.