SpongeBob (SPONGE) is making waves in the crypto world as the latest coin meme to keep an eye on, following in the footsteps of the recent Pepecoin (PEPE) price explosion.
With its cheerful and quirky mascot, this cryptocurrency is capturing the attention of investors and meme lovers alike, bringing a little fun to the often serious world of digital assets.
sponge It struck a chord with many cryptocurrency traders, tapping into a cultural phenomenon that has been popular for decades. Not surprisingly, the token has rapidly climbed the ranks and is currently occupying the coveted first spot on DEXTools hot pairs list.
SpongeBob Token is gaining momentum despite the recent price drop
SpongeBob token, which was created to capitalize on the success of Pepecoin, is gaining momentum in the cryptocurrency market. Crypto market tracker CoinMarketCap Now monitor the value of the sponge.
SPONGE price has mostly been up in the 1-day chart. Source: CoinMarketCap
Although the value of SPONGE has recently declined sharply, dropping by 15.04% in the past 24 hours to $0.000924, it is also listed as one of the top trending projects on DexTools. Sometimes, she even got the first place for hot couples along with PEPE in the second place.
Moreover, SPONGE’s trading volume has skyrocketed, with more than $100 million of the token being traded. At the time of writing, the fully diluted market value is just over $40 million, up from $3 million on May 4, but still less than 5% of Pepe’s market value.
Crypto total market cap currently at $1.113 trillion. Chart at TradingView.com
SPONGE was launched on decentralized exchange Uniswap on May 4 and saw over 30x pumping at its peak. However, after news Binance has paused BTC withdrawals On May 8, the broader market experienced a correction, which caused the value of SPONGE to drop.
Despite this setback, SpongeBob’s code continues to make waves in the crypto world.
Sponge: Momentum despite the lack of a pre-sale social media campaign
the https://sponge.vip/The $SPONGE token caught the attention of the cryptocurrency community, despite being launched directly to a trading exchange without a pre-sale with little promotion on social media leading up to its launch. His speed to gain attention is a notable achievement for the SpongeBob project.
(embed) https://www.youtube.com/watch?v=DCatUf8iqko (/embed)
Some analysts have already identified SPONGE as the next potentially explosive meme. One analyst speculates that the SpongeBob SquarePants universe’s popularity and meme potential could be generated Yields up to 1000 times.
Traders are clearly watching the new meme coins in the wake of Pepe token’s success. For many, the SpongeBob icon seems like an exciting opportunity.
– Featured image from SpongeBob SquarePants /more