Solana Meme Coin $SMOG Surges Amid Bitcoin Correction

The Solana meme coin $SMOG has witnessed a remarkable surge, defying the recent correction in Bitcoin's price. Market participants are buzzing with speculation, comparing $SMOG's ascent to the meteoric rise of Shiba Inu.

Driven by intense trading activity, $SMOG has skyrocketed by +63.78%, claiming the 17th spot among the most valuable meme coins. This surge was fueled by a sudden influx of $1.9M in trading volume, with investors seeking refuge from Bitcoin's correction.

$SMOG Surges to New Heights in Year of the Dragon: Reaches $150M Market Cap

As $SMOG gains traction, particularly in Asia during the auspicious year of the dragon, its recent price movements have garnered attention. The token has breached the upper bounds of its trading channel, reaching an impressive market cap of nearly $150M.

Currently trading at $0.166, reflecting a +42% change in the past 24 hours, $SMOG continues its upward trajectory, hitting sequential all-time highs, with the latest peak at $0.19. Despite this surge, there's potential for a further +90% move before encountering upper trendline resistance.

Buy pressure remains dominant, constituting 53% of recent transactions. Bulls are eyeing a push towards a new all-time high beyond $0.20, while downside risks are cushioned by support levels between $0.12 and $0.13.