Starknet Price Prediction: STRK Plunges 14% Despite Huge Airdrop, New Solana Meme Coin Smog Soars 70% Ahead of Biggest Airdrop of All Time

The price of Starknet has plummeted 14% in the last 24 hours. Traded for $2.054 As of 0:04 AM EST, trading volume had increased 112% to $1.6 billion.

After a brief surge immediately after launch, despite airdropping approximately 700 million STRK tokens to reward the community, the price of STRK quickly plummeted, with over 220 million tokens claimed to date. Eligible users can claim remaining tokens until June 20th.

Over 220 million STRK was claimed!

source: @_token_flow pic.twitter.com/IoDOZQFJ8W

— Starknet 🦇🔊 (@Starknet) February 20, 2024

STRK is not the only token to experience a significant drop in value after a significant airdrop at launch. JUP price also plummeted after distributing about $700 million worth of tokens to the community.

Could the price rebound as the project anticipates more features that will transform the decentralized future?

Starknet is preparing for a decentralized future. Today marks a big step in that direction.

Over the past 12 months, @Starknet The community laid the foundation for today’s milestone.

Huge efforts to regenerate, Cairo 1.0 launch, improved network… pic.twitter.com/GCsCXZHPrY

— Nethermind Starknet (@NethermindStark) February 20, 2024

Straknet price is showing strength as it trades above a falling wedge pattern.

Despite investor enthusiasm, the price of Starknet fell to around $2 compared to the $7 opening price on cryptocurrency exchange Binance. The bulls appear to be keeping the momentum going with a falling wedge to test the $2.18 resistance level.

STRK is trading near $2.0476, the key support zone for the coin, and level with its 50-day simple moving average.

Additionally, the Relative Strength Index (RSI) rebounded from oversold territory and rose above the 50 mid-line to 58. If the bullish momentum continues, RSI could continue its upward trajectory towards the 70 oversold region, which would push prices much higher in line with buying pressure.

The Moving Average Divergence Convergence (MACD) line (blue) supports the bullish outlook for STRK price as it is trading above the signal line (orange). This usually means a bullish crossover that indicates a suitable entry point for traders. The green bar extending above the zero line further supports this, showing that the price is currently on a positive trajectory.

Starknet Price Prediction

The 5-minute chart from Starknet shows that the price may bounce back for a bullish reversal. This is supported by price breaking the upper boundary of the falling wedge pattern, with bulls targeting $3 resistance.

However, if the bears hold the price retracement, the price may fall further towards the next support level at $1.8.

Meanwhile, Smog presents another opportunity for investors seeking the largest airdrop ever, which analysts say has the potential for a 100-fold return.

$SMOG surges 70% in one week, largest airdrop ever

smogListed on Jupiter on February 7, Meme Coin is currently the most popular meme coin, and analysts predict that it could surpass other Solana meme coin stars including BONK, WIF, and MYRO.

As the coin established itself as the leading Solana-based token, Smog has amassed over 23,000 holders and a cross-platform community of 55,000, boosting its market capitalization to approximately $50 million. $SMOG surged 70% in the past week to trade at $0.06475.

The team allocated 35% of the total supply of 1.4 billion Smog tokens to airdrop rewards. It is said that this airdrop will be the largest in history.

one #memecoin To rule them all! 🚀

Get ready for the best moment #airdrop Distributed in History #Solana. 💰

join #smog From Jilly! 🔥

Profile link 🔗 pic.twitter.com/vsn4p5cSF4

— Smog (@SMOGToken) February 8, 2024

The project is also distributing $1,500 worth of tokens to other meme coins daily through airdrops. Currently focusing on Bonk, Dogwifhat, Myro and Samoyedcoin.

Buy $SMOG now and win the next big prize

You must obtain and hold Smog Tokens to receive the airdrop. You can also accumulate airdrop points by actively participating in Smog social activities managed by Zealy. This involves taking part in a variety of quests and activities. Zealy already has over 8,600 airdrop members, and over 270,000 operations have been completed.

You can also earn passive income through: Smog’s Staking ProtocolYou can get 42% in annual rewards.

Crypto analyst and YouTuber Jacob Bury believes SMOG still has the potential to surge 100x more.

You can purchase SMOG tokens. official website You can soon receive a historic airdrop.

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