‘Bitcoin on Solana’ Shoots Up 4,000% But Experts Say It’s a Scam – Here’s a Better Alternative

Sam Cooling
Last updated: | 3 min read
Solana meme coin exploded 4,000% in Bitcoin (BTC) spin-off, but with experts calling Bitcoin on Solana a scam, explore BTC SOL analysis.

The Solana meme coin market has recently seen a dramatic surge, with the ‘Bitcoin on SOL’ spinoff token skyrocketing by over 4,000%. However, with several cryptocurrency experts deeming the project a scam, it’s important to explore some alternatives.

This article will provide an analysis of BTC’s current price trends and look to see whether a newer meme coin, SMOG, represents a more promising investment opportunity at this time.

Community sentiment remains positive about the future prospects of Bitcoin on Solana. Indeed, last year saw numerous Bitcoin spin-offs unlock sensational success with BITCOIN mounting huge gains on the Ethereum blockchain.

BTC Price Analysis: As Bitcoin on Solana Captures Attention of Meme Coin Markets – Will BTC SOL Dump?

As price action consolidates, Bitcoin on Solana is currently trading at a market price of $0.008065 (representing a 24-hour change of +338%).

This comes after a slow launch, which saw the sensational run was ignited in BTC’s 15th hour of trading,  that saw price hammer up more than 1,000% over two-hours.

With the stage set for dramatic growth, the big move lured in more than 750 investors, fuelling the Bitcoin on Solana price rally an additional 300% to hit an all-time high of $0.025.

Solana meme coin exploded 4,000% in Bitcoin (BTC) spin-off, but with experts calling Bitcoin on Solana a scam, explore BTC SOL analysis.

Yet, early-backers sat atop huge gains in excess of +10,500% triggered a major sell-off at 21:00 UTC, sending Bitcoin on Solana price tumbling south.

Retracement moves saw BTC bleed-0ut -80% of its new gains, however, holders have mounted a well-defended consolidation above $0.005 – leaving BTC primed for a second-leg.

This seems likely as buy-pressure clings onto dominance over price action – representing 53% of transactions over the past hour.

However, cause for concern is emerging from Bitcoin on Solana’s miniscule liquidity pool – which stands at $26k – just 16% of BTC’s $155k market cap.

Worse still, the BTC SOL liquidity pool remains unlocked, so while transactions may struggle to complete based on pool size, an overhead risk could also liquidity removed in a classic honeypot scam.

For this reason, smart money investors are shifting their attention to a better play on Solana – SMOG.

Introducing 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 Roadmap

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.

Buy SMOG Here

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.