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As the market continues its bullish trend, meme coins are beginning to experience significant growth in recent weeks, indicating that this might just be the start.
Major players in the crypto scene have caught attention, but experts believe these two new Solana meme coins are set to overtake the current top dogs — Slothana ($SLOTH) and Smog ($SMOG).
$SLOTH has made a strong start, raising over $5.4 million in the first few days of its presale, and is aiming to become the next big Solana meme coin with significant profits.
At the same time, $SMOG, another Solana-based coin, is getting ready to launch on centralized exchanges soon, attracting a lot of attention among investors.
Let's check out what the hype behind them is about.
Slothana ($SLOTH) is inspired by the sloth and follows the successful launch of the $SLERF project on the Solana blockchain. Launched in mid-March, $SLERF has recently seen impressive returns, thanks to a surge in interest in Solana-based meme coins during a big market boost.
Historically, Ethereum and its ERC-20 token standard dominated the meme coin scene. However, Solana is emerging as a strong competitor, attracting projects with its promise of significant returns during periods of high market interest.
One reason for Solana's growing popularity among meme coin creators and traders is the lower transaction fees compared to Ethereum. On Ethereum, trading a new meme coin on a decentralized exchange can incur fees of about $50, which is too much for many. Solana offers a more affordable and efficient transaction environment, which has made its blockchain a busy hub for meme coin activity.
This turn towards Solana reflects a bigger trend in the crypto community. People are looking for alternatives to Ethereum that offer lower costs and higher transaction speeds. As a result, Solana's blockchain is gaining traction, supported by increased interest in meme coins and the success of projects like Slothana and Smog.
In just three days, Slothana ($SLOTH) has impressively gathered over $5.4 million, showcasing the investment community's interest. A key factor drawing investors to $SLOTH is its connection to the Solana blockchain, a platform known for its speed and efficiency.
The buzz around $SLOTH isn't just happening by chance. Its strategic social media engagement has played a crucial role in boosting interest in the project. The team's use of platforms like Twitter has not only spread the word but is also helping $SLOTH's ambition to hit a market cap of $420 million.
There's chatter that the brains behind Slothana are the same ones who introduced Smog, another meme coin on the Solana blockchain that saw notable success on the Jupiter decentralized exchange. This background hints at $SLOTH's potential for growth and market stability.
Setting itself apart in the crowded meme coin market, Slothana adopts a clear and straightforward presale process. Unlike other projects with complicated investment tiers, Slothana offers a simple deal, investors get 10,000 SLOTH tokens for every SOL they contribute.
With the presale progressing successfully, interest from investors grows daily, as many rush to get in at affordable prices before they explode.
Smog ($SMOG) is on the rise as a promising new meme coin that supports multiple blockchain networks. Recently, it kicked off with a fair launch on the Jupiter DEX on the Solana blockchain, marking its entry into the crypto market. Right now, it's available at a 10% discount.
To position itself as a top contender on the Solana network, Smog is rolling out airdrop campaigns. A large portion of its supply, 50% of 1.4 billion tokens, is dedicated to marketing efforts to draw in more users. The team is set to give away 490 million tokens to its early supporters.
One of the notable features of Smog is its compatibility with multiple blockchains, allowing investors to purchase $SMOG using either ETH or USDT directly on its website. Additionally, there's an option to stake $SMOG tokens for an annual percentage (APY) of 42%, providing a reward for long-term holding.
By just holding tokens, investors can get rewards from airdrops and earn more airdrop points. Also, the Smog team has saved 140 million tokens to help get $SMOG listed on major trading platforms in the future.
People are getting excited on social media because the $SMOG team is suggesting that $SMOG will soon be available on a major trading platform, which would be a big deal for the token.
They haven't given much information, but there's a lot of talk that this could happen really soon, maybe even in the next week, and that there might be more listings like this coming up.
As meme coins have started to show considerable growth in the past few weeks, many crypto experts are suggesting this could be just the beginning.
Investors are on the hunt for the next token poised for a big surge, and some of the Solana-based projects have the potential for significant returns.
For many crypto analysts, the projects expected to take off and make a big impact in the market are Slothana ($SLOTH) and Smog ($SMOG).
The great part is that you still have the chance to grab these tokens at pretty reasonable prices before their value skyrockets.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
