Bonk and Pepe continue to soar as smog tokens are also pumped amid the Meme Coin craze.

The meme coin market is on fire this week. 2023 geniuses Bonk and Pepe are up 186% and 240% respectively.

However, emerging meme coins are also gaining ground, with multi-chain sensation Smog surging 113% this week.

BONK and PEPE have exploded, but analysts say it’s still too early.

Despite the monumental performance, one prominent analyst believes meme coins remain in the early stages of the market cycle, giving them much more room to grow in the coming weeks.

Bonk is currently up 17.2% today, 186% this week, and 292% this month. Meanwhile, Pepe is down 2.4% today but is up 240% this week and 703% this month.

The meteoric rise of both cryptocurrencies has been triggered by broader market strength, with industry leader Bitcoin on track to hit a new all-time high (ATH) after tapping $68.6K today.

That’s because Bitcoin analyst and CEO Max Schwartzman was an early supporter of the recent Pepe breakout. In late February, an analyst speculated that Pepe was “most likely to be this cycle’s ‘why didn’t I buy it’ bag.”

It was trading at $0.0000013 at the time. Therefore, the current price of $0.000007211 represents a profit of 454%.

This demonstrates the analyst’s deft understanding of the ongoing market environment, and the good news for market participants is that he expects the upward trend to continue.

In a recent tweet, Max said it was “brain off-season” and hinted it was still too early for Pepe holders to sell.

According to the analyst, “This is the cryptocurrency equivalent of the dot-com bubble.” He then urges readers to study the NASDAQ from 1995-2000. During this period, the Nasdaq showed tremendous gains, rising 400%.

However, traders are optimistic that Bonk will also continue to surge. A recent tweet from Unknown Trader predicted that BONK would continue its upward trend towards the $0.000048 level.

Based on the current price of $0.00003937, there is room for 21% growth.

However, as Max Schwartzman highlights, the fact that Bitcoin and Ethereum have yet to hit a new ATH means the market cycle is still in its early stages and offers plenty of growth opportunities.

Nonetheless, traders may try to divert their profits to other projects showing strength. One promising alternative is Smog, a multi-chain meme coin that surged 113% this week.

Multichain Smog attracted investors to the airdrop and soared 113% to a market capitalization of $89 million.

Spreading its wings on the Ethereum and Solana networks, Smog has seen tremendous success since its launch in February.

The dragon-themed meme coin currently has a market capitalization of $89 million at a price of $0.1171.

It’s up 13.48% today, 119% this week, and 140% this month. However, with a market capitalization less than 25 times smaller than Bonk or Pepe, combined with the accessibility of both blockchains, analysts are largely optimistic.

In a recent video, YouTuber Jacob Bury speculated that the project could multiply 100x, citing its multi-chain approach and generous airdrops.

According to the website, 35% of the total smog supply is allocated to airdrops. This generated significant excitement and community engagement, reaching over 30,000 users. X Followers and 16K Telegram members.

To foster a long-term community, Smog has launched a staking mechanism with 42% APY. This incentivizes holders to lock up their tokens, minimizing selling pressure and allowing the SMOG price to rise.

17,653,635 SMOG tokens are already staked. These significant sums reflect the market’s preference for passive rewards and a deep-rooted belief in the project’s potential.

Currently, investors can receive a 10% discount when purchasing Smog on the project website. But you’ll have to hurry because this offer is ending soon.

Visit the Smog website