Cryptocurrency
Solana’s SMOG or Meme Kombat – Can One of These Viral Meme Coins Replace BONK?
Solana meme coins are whipping up a frenzy in the crypto market.
The latest sensation is SMOG, which went on to climb around 1400% on its release and continues to top the charts. Meme Kombat ($MK) is another viral meme coin that has caught the attention of the market. Although $MK has yet to be launched, that hasn’t stopped it from igniting FOMO. The GambleFi meme coin is now close to $8.5M in its hot presale.
Here is an analysis of both SMOG and Meme Kombat and how they stack up against each other.
Solana Stealth Launch SMOG is Sizzling Hot With a 1400% Surge – More Coming?
There is more to the growing FOMO around SMOG than its Solana affiliation.
To begin with, the SMOG community is eagerly awaiting a huge airdrop event. The mounting anticipation around the upcoming airdrop, combined with the social media sentiments around the token, make the perfect recipe for a meme coin mania.
In a strategic approach, the project is fueling the excitement around the airdrop with diverse marketing campaigns. As expected, they have kindled a bull run for the meme coin, helping it amass a large base of investors in a short time.
The meme coin could witness more price surges in the coming days as the hype grows to new heights. To give a better perspective, the token has set aside 35% of its supply for airdrop rewards. And a gigantic 50% of the supply is used for marketing efforts, across various crypto publications and social media channels.
More than Just Another Solana Meme Coin
The intriguing narrative and theme that underpin the project have the potential to attract and retain investor attention in the days ahead.
According to the website, “The mighty Smog reigns over the crypto battlefield, incinerating all his foes. As the dragon fire burns, the Greatest Airdrop in History gathers pace. No other meme coin can survive the fiery flames. Buy and hold $SMOG to gain airdrop points and join the dragon in vanquishing his enemies!”
The roadmap also instills faith in the project’s future:
The multi-airdrop campaign will lay the groundwork for SMOG’s community-building endeavors. The uniquely interesting goal to attain 10,000+ ‘Loyal Chosen’ individuals, on the other hand, adds to the community craze.
Together, these strategic elements will encourage the community to retain their SMOG tokens for greater rewards over the long term. Investors who hold onto their $SMOG will also qualify for the community bounty.
For more specifics regarding the rewards and the airdrop campaign, join the SMOG community on Twitter, Telegram, and Discord.
The Next BONK?
SMOG is inspired by the success of Solana meme coins like Myro, Bonk, and Dogwifhat. They took the market by storm earlier this year by kindling massive crypto pumps upon their launch.
But the ambitious airdrop initiative gives SMOG a strong competitive edge in the market.
SMOG’s massive surge after the stealth launch hints at its growth potential. It boasts a stronger beginning compared to competitors like BONK. While BONK charted an impressive one-year return of 892%, SMOG has the potential to outperform its contemporaries.
Meme Kombat Turns Meme Coin Rivalry into Price Action
Meme Kombat ($MK) is the next meme coin to keep an eye on this week.
The project taps into the fierce competition among meme coin communities, and directs it toward its AI-driven virtual battle arena. Iconic meme coins like DOGE, SHIB, and PEPE engage in intense battles for dominance in the battle arena.
Users who stake $MK tokens can predict the outcomes of these AI-powered battles and earn compelling rewards.
The launch of Meme Kombat Season 1 will kick off soon after the presale. Meme Kombat’s GambleFi arena has the potential to influence the price action of the meme coin market in the future.
Verdict: SMOG or Meme Kombat?
SMOG capitalizes on its theme and hype to pump meme coin mania. Meme Kombat, on the other hand, pumps meme coin mania to drive its price action through an AI virtual battle arena.
It remains to be seen which will emerge as the winner and secure the third position on the meme coin chart.
But the fact that the crypto market is going through another bullish phase ahead of Bitcoin halving will catalyze the price action of both Meme Kombat and SMOG.
To buy SMOG and stand a chance in the airdrop campaign, traders will need to set up a Solana-compatible wallet such as Phantom. Participating in the community tasks listed on Zealy will improve the chances of winning the airdrop rewards, as well as entering the ‘Loyal Chosen’ group.
SMOG is now live on Jupiter DEX. For more details about the meme coin and detailed instructions on how to grab it before the next surge, visit the official SMOG website.
Meme Kombat, however, is still in the presale phase. It has a cheaper entry point than SMOG, as a result. In other words, it offers more space for growth, expansion, and returns.
But there is little time left for early investors, with the presale already past the $8.4M milestone. Staking is live for $MK presale investors.
Visit the Meme Kombat presale page for more information.
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Bitcoin has recently experienced an uptick in demand near the crucial support region of the 100-day moving average, leading to a notable rebound.
This price action underscores a bullish sentiment in the market with the potential for a continued rally toward a new all-time high.
Technical Analysis
By Shayan
The Daily Chart
A detailed analysis of Bitcoin’s daily chart reveals that following a resurgence of demand near the critical $53K support area, the cryptocurrency initiated an impulsive bullish rally, surpassing several key resistance levels and introducing a bullish sentiment into the market.
These zones include the 200-day moving average at $60.5K, the 100-day moving average at $64.4K, and the static resistance at $61K. After breaking above the 100-day MA, the price recently exhibited a corrective retracement, completing a pullback to the broken level and validating the breakout.
Currently, Bitcoin has faced heightened buying pressure near the 100-day MA and experienced a bullish rebound toward the $67K threshold. If conditions remain stable, there is potential for the bullish trend toward the significant resistance region of $70K in the mid-term to continue.
The 4-Hour Chart
On the 4-hour chart, after receiving sufficient support near the lower boundary of the multi-month wedge at $54K, the price initiated an impulsive bullish rally, reaching the wedge’s upper trendline at $68K.
This price action clearly indicates that buyers are eager to push above the $70K resistance and set a new ATH for Bitcoin in the mid-term. During the recent rally, the price has formed an ascending short-term trendline, serving as the main support for BTC in the short term.
However, Bitcoin faced increased selling pressure near the wedge’s upper boundary, leading to a notable rejection toward the upslope trendline and the $64K support region.
Yet, the cryptocurrency was supported by the trendline and the $64K threshold, initiating a new surge toward the wedge’s upper boundary. Currently, the price is confined by the dynamic support of the ascending trendline and the dynamic resistance of the wedge’s upper boundary, roughly forming a triangle pattern.
A break above the wedge’s upper trendline will pave the way for a renewed bullish surge toward the $70K threshold. Conversely, a break below the ascending trendline could lead to a retracement toward the $64K mark.
On-chain Analysis
By Shayan
While Bitcoin’s price has experienced a notable bullish reversal, a closer examination is essential to determine if this trend will persist.
The Taker Buy/Sell Ratio, a crucial metric for evaluating futures market sentiment, provides valuable insights into the market dynamics. Values above 1 indicate aggressive buying by bulls, while values below 1 suggest bearish selling pressure.
The chart highlights the Taker Buy/Sell Ratio, which has experienced an impulsive surge above the “1” threshold concurrently with Bitcoin’s bullish revival. This surge signifies strong buying interest in the perpetual market, indicating a notable bullish sentiment and significant buying activity. If the upward trend in the Taker Buy/Sell Ratio continues, it confirms a potential mid-term bullish trend, with the price likely rallying toward the $70K mark.
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
Cryptocurrency
MEET48 “2024 GIPR2” Voting Event Final Results on August 3rd, Ranking Top on DappBay and DappRadar
[PRESS RELEASE – Singapore, Singapore, July 26th, 2024]
Recently, the “2024 GIPR2” voting event Dapp of MEET48, a metaverse virtual community based on an AI and WEB3.0 diversified UGC entertainment content ecosystem, has rapidly risen in the rankings on DappBay and DappRadar, attracting widespread attention.
The MEET48 “2024 GIPR2” voting event (https://gipr.meet48.xyz/#/gipr) is divided into the Idol Group, Sprout Group, and Virtual Idol Group. Users can log into the MEET48 official website and app, complete tasks and watch contestant videos to earn points, mint NFTs, and use points to buy voting tickets to vote for idols. The final voting rankings will determine the metaverse and overseas offline performance resources that participants will receive. Users who participate in voting interactions will also be whitelisted for future airdrop eligibility.
As of 12PM on July 26, 2024, the MEET48 event Dapp has become the number one social category Dapp on DappBay and ranked fifth in the social category on DappRadar.
According to DappRadar data, MEET48’s event Dapp recorded 25.25 million on-chain transactions in the past 30 days, with 669.98K active user addresses (UAW). In DappBay’s statistics, MEET48’s event Dapp also performed excellently, with 25.62 million on-chain transactions and 647K users in the past 30 days.
Currently, the MEET48 “2024 GIPR2” voting event Dapp has over 3 million registered users, and the total accumulated votes in the event have exceeded 10 million. These users, who joined through the airdrop, will eventually be integrated into MEET48’s intelligent social metaverse community through the MEET48 content ecosystem matrix products.
With the final results of the “2024 GIPR2” voting airdrop event set to be announced on August 3rd, MEET48’s popularity is expected to continue rising. For those who have not yet participated, there is still an opportunity to complete tasks and earn points to join the airdrop event:
https://gipr.meet48.xyz/#/gipr.
About MEET48
MEET48 currently boasts a technical and R&D team of 500 people, covering regional operations in Singapore, Hong Kong, Taipei, Tokyo, Seoul, and Dubai. This makes it one of the largest Web3 application project teams globally. MEET48 aims to achieve the mass adoption of Web3 technology by focusing on an AI UGC content ecosystem centered on AIGC (Animation, IDOL, GAME, and Comics) Gen Z trend entertainment content and a graphical, intelligent metaverse social base.
For more information users can visit MEET48’s: Official Website | Twitter (X) | Telegram | Discord
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Ripple’s price is finally gaining some bullish momentum following months of downtrend and consolidation.
By TradingRage
The USDT Paired Chart
Analyzing the XRP/USDT pair, it is evident that the price has demonstrated a rapid recovery from the $0.43 support level. It broke above both the $0.5 level and the 200-day moving average, located around the $0.55 mark.
The price is currently on the verge of breaking above the $0.59 resistance zone and if it succeeds, a rally higher toward the key $0.72 resistance level would be probable in the coming weeks.
The BTC Paired Chart
The BTC paired chart also displays a similar behavior. The market has rebounded and broken above the 800 SAT level. Yet, the price has yet to break through the 200-day moving average, located around the 900 SAT mark.
Typically, a rise above the 200-day moving average indicates the beginning of a new uptrend. Therefore, if a breakout occurs, XRP will likely significantly appreciate against BTC in the short term.
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
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