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6 months ago
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ARTICLE AD BOX
GameStop made countless headlines this week after skyrocketing, both as a stock of the popular company and as a meme coin. Both skyrocketed after the return of Roaring Kitty, one of the traders behind the short squeeze in early 2021, when Reddit traders stood up against institutional investors who were shorting GameStop stocks.
The surge of GameStop tokens eventually translated to the rest of the meme coin sector, leading many prominent joke cryptocurrencies to record significant gains.
One example is the dragon-based Smog (SMOG), which runs on the Solana network.
The Smog Price Surges As Meme Coin Sector Explodes
Smog has seen a significant price drop over the past month. After struggling to breach resistance at $0.10 in the second half of April, the token’s price was rejected near the end of the month, sinking to $0.060.
At the start of May, the token saw another surge as it concluded the first phase of its airdrop, spiking interest in its token once again. However, this surge was quickly reversed after the token reached the price of $0.080 and corrected again toward $0.040.
The surge of GameStop stock and token brought back the meme coin hype, and SMOG reacted as well, surging by nearly 30% between Monday, May 13, and Friday, May 17.
The token is once again struggling to breach the resistance at $0.060 as the hype started to subside, but SMOG may still breach this resistance and turn it into a new support.
SMOG Airdrop Continues With Season 2 Still Ongoing
As mentioned earlier, Smog is currently in the middle of an airdrop that it dubbed “the greatest Solana airdrop of all time.”
The project requires users to complete various tasks or trade tokens to earn XP. Depending on how much XP they have at the end of the event, they will receive a certain amount of SMOG tokens as a reward.
The project allows users to get SMOG on its website with a 10% discount. However, the offer will not be available much longer, so anyone interested should move quickly before it expires. SMOG tokens can be bought with ETH, USDT, or a credit/debit card.
Once in traders’ possession, they can be staked or traded to earn XP quickly and become eligible for airdrop rewards.
Disclaimer: This is a sponsored article, and views in it do not represent those of, nor should they be attributed to, ZyCrypto. Readers should conduct independent research before taking any actions related to the company, product, or project mentioned in this piece; nor can this article be regarded as investment advice. Please be aware that trading cryptocurrencies involve substantial risk as the volatility of the crypto market can lead to significant losses.
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