GameStop made countless headlines this week after skyrocketing, both as a stock in the iconic company and as a meme currency. Both rose significantly after the return of Roaring Kitty, one of the traders behind the short squeeze in early 2021, when Reddit traders sided against institutional investors who were selling GameStop shares.
The surge in GameStop tokens eventually translated to the rest of the cryptocurrency sector, resulting in several prominent cryptocurrencies posting significant gains.
One example is the Dragon-based Smog (SMOG), which runs on the Solana network.
Smog price rises as coin sector explodes
Smog has seen a significant drop in prices over the past month. After struggling to break through the resistance at $0.10 in the second half of April, the token’s price was rejected towards the end of the month, falling to $0.060.
At the beginning of May, the token saw another spike as it completed the first phase of its airdrop, increasing interest in its token once again. However, this rally was quickly reversed after the token reached a price of $0.080 and corrected back towards $0.040.
A surge in GameStop stock and tokens has brought back hype around the meme coin, and SMOG has reacted as well, surging nearly 30% between Monday, May 13, and Friday, May 17.
The token is once again struggling to break through the resistance at $0.060 as the hype is starting to subside, but SMOG may still break through this resistance and turn it into new support.
The SMOG Airdrop continues as Season 2 continues
As previously mentioned, Smog is currently in the middle of an airdrop that has been dubbed “Solana’s greatest airdrop ever.”
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.
Get Smog for 10% off
The project allows users to get SMOG on its website at a 10% discount. However, the offer won’t be available for much longer, so anyone interested should act quickly before it expires. SMOG tokens can be purchased using ETH, USDT, or credit/debit card.
Once in traders’ possession, they can be staked or traded to earn quick XP and become eligible for Airdrop rewards.
Disclaimer: This is a sponsored article, and the opinions expressed do not represent those of ZyCrypto and should not be attributed to it. Readers should conduct independent research before taking any actions regarding the company, product or project mentioned in this article; This article should not be considered as investment advice. Please be aware that cryptocurrency trading involves significant risks as cryptocurrency market fluctuations can result in significant losses.