In the latest Solana meme coin pump, new crypto JEFE coin has exploded 98x, but as JEFE price analysis signals a downtick – could this other hidden gem be a superior play?
This article will provide an analysis of JEFE’s current price trends and look to see whether a newer meme coin, SMOG, represents a more promising Solana investment opportunity at this time.
$jefe is ready
Up 70% from my call earlier
9RyCXca1aMBknh5285ybDgr9xxQhHxzXfghLq4HS2wUx pic.twitter.com/1BmpsQX8kQ
— Jackson Hunter (@jhuntermav) February 20, 2024
Jefe token appears to be a play on the Spanish word for ‘Boss’, and the enigmatic token has gained major traction across the crypto community, with meme coin investors honing in on JEFE’s strong fundamentals and tokenomic proposition against a backdrop of Solana meme coin pumps.
JEFE Price Analysis: As New Breakout Solana Meme Coin JEFE Explodes 98X – Could This Hidden Gem Be a Better Play?
As price actions balances a precarious consolidation, JEFE coin is currently trading at a market price of $0.00014811 (representing a 24-hour change of +7.77%)
Now stood as the hot #10 on DEXTools, retracement throughout the night appears to have left JEFE in poised form this morning, after retreating from an all-time high at $0.00042.
The -64% downshift swept into the chart following a sell-off by early-backers that moved to take profit on the astronomical 23,000% gain mounted by JEFE coin in its first 6-hours of trading.
A brief second-rally leg saw considerable efforts towards continuing the rally, however, rejection at overhead resistance around $0.0003117 stifled progress.
This has left JEFE trading in consolidation around lower support between $0.00091 and $0.00015, suggesting price action is coiling up ready for a move.
However, despite the whopping $800k in trading volume that delivered price action to the current position, JEFE’s total market cap stands at just $142k.
Yet, despite limited growth in market cap, this could offer an alluring entry to late-stage investors, with the potential of a 6-10x return on the cards from here – a feasible task as buy-pressure stands strong representing 60% of present transactions.
Bigger fears emerge from JEFE’s unlocked liquidity pool, which stands at a meagre $28.45k with the possibility of removal by developers at any given time.
For this reason, smart money investors are shifting their attention to a Solana airdrop campaign built around a product with longevity – SMOG.
Better Play Than JEFE 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 JEFE
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 JEFE Coin Skyrockets 98x in 24 Hours – Here’s a Hidden Gem That Could Follow Next appeared first on Cryptonews.