What is Smolecoin (SMOLE)?

Smolecoin (SMOLE) is a cryptocurrency token initially launched as a memecoin on the Solana blockchain. Its controversial presale and humoristic approach made headlines in the crypto industry.

SMOLE is the top-funded memecoin project on Solana, raising nearly 170k SOL. Minutes after the presale, the coin’s trading volume surpassed $220 million, and its total liquidity reached nearly $60 million. However, its market capitalization barely surpasses the $20 million mark.

This can be confusing, given that other memecoins on Solana like dogwifhat (WIF) and cat in a dogs world (MEW) have amassed hundreds and even billions in market capitalization just days after launch. This article will explore Smolecoin’s controversial debut and potential as a Web3 hub for memecoins.

Without further ado, let’s get started.

What is Smolecoin?

As mentioned earlier, Smolecoin is a memecoin project that started as another speculative coin with entertainment purposes. It features a mole, deviating from the typical trend of depicting dogs or cats for marketing and identity purposes.

The project gained attention and a large follower base. SMOLE is available for trading on various centralized and decentralized exchanges, such as KuCoin and Solana-based Raydium. 

SMOLE: Founders & History

Smolecoin was founded by ‘Dekandente,’ a visual artist and founder of Dystolabs, a web3 gaming studio. This indicates a creative background behind the coin, yet information about other members involved in SMOLE’s creation is scarce.

SMOLE’s launch was a huge success, raising 169,982 SOL during the presale, the largest amount any Solana memecoins has ever raised. It soon garnered a large following, as many other Solana-based memecoins do, and support for trading from multiple high-profile cryptocurrency exchanges like HTX Global, Gate.io, and BitMart. 

However, while the presale was considered a success, it shortly faced a downfall; the coin was launched for $0.0002818 on March 2024 but dropped to $0.00003959 in the following days, meaning it lost roughly 90% of its value. 

The disastrous price drop could be attributed to factors like the inherent volatility of the crypto market and whale farmers depositing vast amounts of SOL into crypto exchanges and then selling SMOLE right after the sale. One trader invested 18,460 SOL to acquire over 22 billion SMOLE tokens, selling the entire stash for 37,446 SOL in just 15 minutes.

It is sufficient to say that this sparked a wave of controversy that led HTX to refund users affected by the SMOLE private sale. This is the first time an exchange collaborates with a memecoin developer, yet the announcement on X was met with mixed reactions, given the confusing nature of the statement.

You couldn't have tweeted a more confusing tweet.

— Eray Efe (@Argostroloji) March 19, 2024

Is Smolecoin Safe?

Smolecoin is categorized as ‘Good’ on Rugcheck, suggesting a relatively low risk of being a rug pull memecoin. Likewise, most community sentiment towards Smolecoin is positive or bullish, indicating that people believe in its potential.

Rugcheck is a platform used to assess the risk of “rug pulls,” a scam in the crypto industry in which founders/developers drain a project’s liquidity pool and run away with investors’ funds. It’s one of the biggest threats for crypto investors, and given their extreme popularity, memecoins are a lucrative niche for scammers seeking to capitalize on the memecoin frenzy. 

SMOLE Tokenomics

SMOLE tokenomics are simple. There were no locked tokens or private sales, as it had a more community-focused approach. has a total supply of 420 billion tokens. As of April 2024, its market capitalization stands at $21,002,517, with an average price of $0.00004898 per SMOLE, a 90.3% decrease from its all-time high.

Source: CoinGecko

However, new tokenomics and other essential features are being developed, as seen in the section below.

SMOLE Future Developments

As per the project’s Telegram channel, new tokenomics and incentive mechanisms are being developed to turn SMOLE into a memecoin hub for creators, investors, and general memecoin enthusiasts.

Dekadente said the team plans to adjust the tokenomics to increase the coin’s value over time by locking 100% of the liquidity pool (LP) for an undisclosed number of years. The rationale is to promote sustainability and discourage short-term speculation—as witnessed during the token’s presale—while building trust among investors and developers. 

The funds will be used for various purposes, including marketing, NFTs, reward programs, yield farming, meme contests, and supporting the development team. Overall, it seems the team is committed to building a valuable and sustainable project following the chaotic launch.

Smolecoin Competitors

Smolecoin founders appear to be taking a different approach and are turning the memecoin into a Web3 powerhouse. However, it faces tough competition, not only from other Solana tokens but also from other well-established participants.

Floki Inu (FLOKI)

Floki Inu is one of the largest dog-themed memecoins by market capitalization, launched on the Ethereum blockchain in July 2021. Floki did what Smole intends to do now; it started as another speculative coin but later developed its Web3 ecosystem, which includes various projects for different areas, including FlokiFi (for DeFi), Valhalla (metaverse and GameFi), FlokiPlaces (NFTs), and the University of Floki (for educational purposes). 

CorgiAI (CORGIAI)

CorgiAI is a peculiar case in the memecoin market, given that it combines artificial intelligence (AI) technology with the popularity of memecoins. Instead of a Shiba Inu, it features a Welsh Corgi.

In short, CorgiAI focuses on building a community of users and developers who leverage AI tools to create Web3 applications across different sectors, including Metaverse projects, NFT galleries, an AI job board, and SocialFi applications, blending elements of social media and decentralized finance.

The project operates on the Cronos Chain, an EVM-compatible blockchain by Crypto.com, enhancing its accessibility and potential for growth. CorgiAI’s ecosystem spans across different sectors,

Shiba Inu (SHIB)

Shiba Inu is the second-largest memecoin by market cap, gaining mainstream popularity since its 2020 launch. The coin was designed to rival Dogecoin (DOGE) but evolved into a much larger project with a large follower base after the development of Shibarium. This Ethereum sidechain expanded SHIB capabilities. 

Shibarium allows the creation of decentralized applications (dApps), and as of April 2024, it’s home to 23 dApps, including decentralized exchanges (DEXs), liquidity pools, GameFi, and NFT projects. The BONE token fuels Shibarium, while SHIB is periodically burned to reduce supply and potentially increase its long-term value.

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