BONK, the popular meme coin inspired by the “bonk, go to horny jail” meme, saw a parabolic rise in late 2023, hitting an all-time high of $0.0000245 in December. However, since then the price has been in consolidation mode, currently trading around $0.000013. That’s still up 6% today and trading above the 50-day moving average on the 4-hour chart, indicating continued bullish momentum according to technical indicators like the MACD.
With BONK’s market cap now over $800 million after the surge in the last 2 days, 10-50x gains from here in the near future seem unlikely. This is why meme coin investors should consider these up-and-coming alternatives instead for bigger potential upside…
What you'll learn 👉
SMOG (SOL) – The Next Solana Meme Coin Ready To Breakout
SMOG is a brand new Solana-based meme coin that just launched on February 7, 2024. In its first few days, the token has already surged over 1,000%, attracting positive price forecasts from top crypto influencers.
SMOG grants holders access to an exclusive crypto community called “The Dragon’s Court” while the meme coin concept itself revolves around the Year of the Dragon in the Chinese zodiac calendar.
Upcoming developments like the SMOG airdrop represent major potential catalysts for even more parabolic price action ahead. SMOG seems poised to become the next Solana meme coin breakout, just like BONK before it but earlier in the hype cycle.
As the chart below shows, SMOG is up 13% in the last 24 hours and currently trading at $0.06694 based on Dexscreener data. The technicals clearly show SMOG is in a strong uptrend with room to run.
Despite SMOG’s parabolic gains early on, RSI dipping into the 40-50 range across all timeframes. This shows SMOG is currently in oversold territory after its massive 1,000%+ initial surge, signaling a healthy pullback as the price consolidates. With the RSI stabilizing around 50 on the daily chart, SMOG appears to be establishing support before likely resuming its upward ascent again soon.
With Solana gaining steam and the crypto meme coin mania still in full swing, SMOG has arrived at just the right time. Here is a quick guide on how to acquire SMOG tokens while the project is still early:
- Acquire SOL, USDT, USDC or other cryptocurrencies on major exchanges
- Use a Solana-compatible wallet like Phantom to connect to decentralized exchanges
- Swap for SMOG coins on Jupiter Aggregator, Birdeye, or other DEXs on the Solana blockchain
- Join SMOG social channels like Twitter, Discord and Telegram to stay updated
As the current lunar year comes to a close, the Year of the Dragon starts today with Chinese New Year 2024. Playing into this symbolism and mystique around the dragon zodiac, SMOG is creatively positioned and thoughtfully designed to capture interest in the Solana ecosystem and drive community engagement.
With Solana still trailing behind Ethereum in NFT trades and meme coin mania, SMOG brings some fresh dragon energy to ignite renewed hype and price speculation as we head deeper into 2024.
SPONGEV2 – Play-to-Earn Nostalgia With Meme Coin Tokenomics
Another meme coin that could realistically 100x from here is SPONGEV2, the newest evolution of last year’s popular Sponge token featuring everyone’s favorite sea sponge, SpongeBob SquarePants.
While the original Sponge took the crypto world by storm back in 2023 with its stealth fair launch and ties to the iconic cartoon, the developer team knew it was time to upgrade its functionality to reward the community even more.
Enter Sponge V2, bridging the legacy token to an advanced ecosystem promising attractive staking rewards, play-to-earn gaming, and considerable token upside through better memetics.
Let’s quickly recap Sponge’s success thus far:
- Sponge V1 delivered exceptional returns in 2023, shockingly soaring from a $1 million market cap to over $100 million at its peak
- Over $8 million already staked in the Sponge V2 contract pre-launch
There are only two ways to get your hands on Sponge V2 tokens currently:
- Buy & Stake SPONGE
- Stake Sponge V1
More V1 tokens staked, the higher V2 rewards allocated. But all Sponge V1 sent to the staking contract is burned permanently, reducing supply and supporting the migration to V2 on Polygon.
📣 Attention, #SPONGERS!— $SPONGE (@spongeoneth) February 6, 2024
Here is some important information to remember about $SPONGE V2!$SPONGE V1 has officially been discontinued, and V2 has been launched on #Polygon! 🔥
Learn more about the token details below 👇https://t.co/TCdxgXx40w
Since this bridging method is unique in crypto, here are some key points around redeeming V1 for V2 at genesis:
- V2 can only be earned by staking V1 SPONGE
- Buying & staking SPONGE also earns a V2 bonus
- Staked SPONGE is permanently locked in V1
- Keep SPONGE staked to increase V2 holdings over 4 years
Beyond better tokenomics, Sponge V2 also introduces a play-to-earn arcade racing game. This adds extra utility and fun to the ecosystem while users can earn SPONGEV2 by playing and ranking on the leaderboard.
With nostalgia and memetics both powerful trends in crypto, Sponge V2 capitalizes on this with its cartoon themes and improved token design. Currently trading around $0.001, the revived token has room to make new all-time highs again in 2024 with sufficient hype and marketing momentum.
Between innovative token bridging mechanics and on-chain arcade gaming, Sponge V2 checks off numerous points that make crypto projects stand out these days among endless competition. For investors and gamers alike, it’s one to watch closely this year.
Upcoming Exchange Listings
Despite being available on leading decentralized exchanges like Jupiter, both SMOG has yet to be listed on major centralized exchanges. Getting listed on platforms like Binance or Coinbase would open the tokens up to millions of new buyers, initiating massive hype and potential price surges. Meme coins like BONK and DOGE exploded after first being added to top-tier CEXs.
As the SMOG and SPONGE communities clamor for enhanced accessibility and liquidity, eventual listings on centralized powerhouses seem imminent. With each exchange listing acting as a fresh catalyst, this year could see both underdog meme tokens rack up more parabolic gains as adoption spreads beyond DEX-centric early adopters.
Conclusion – Best Meme Coins to Buy Now
As BONK goes into price discovery mode after its mega bull run last year, the hottest new meme coins with the most potential are loading up for their own parabolic rallies. SMOG and SPONGEV2 represent fresh opportunities perfectly primed to capitalize on current trends like Solana mania and play-to-earn gaming.
With both projects innovating on tokenomics, branding, and community-building, they stand out as likely candidates to achieve 50-100x returns for early adopters as adoption spreads in 2024. As BONK takes a breather, SMOG brings fiery dragon energy to Solana while SPONGEV2 transports investors back to breezy Bikini Bottom with its arcade racing metaverse. For big meme coin gains, these are the set-ups to watch unfold in the year ahead as the volatility continues across crypto markets both large and small.
Disclaimer: We advise readers to do their own research before interacting with any featured companies. The information provided is not financial or legal advice. Neither CaptainAltcoin nor any third party recommends buying or selling any financial products. Investing in cryptoassets is high-risk; consider the potential for loss. CaptainAltcoin is not liable for any damages or losses from using or relying on this content.