The cryptocurrency markets have been ablaze lately as AI-powered cryptos and memecoins begin to take center stage again. Over the past week alone, popular memecoins like PEPE and TURBO have exploded to exceptional heights, creating a new breed of memecoin millionaires in the process.
Unfortunately, most investors missed out on the majority of the gains from the memecoin surge over the past fortnight. Still, luckily, there’s one new memecoin that just launched on May 4th and is starting to gain some serious momentum.
In under 24 hours of launching, Spongebob Token has managed to grow from a small $2 million market cap to the current $6.5 million at the time of writing. With that being said, it’s time to buckle in because this rocket is about to take off.
A Week Full of Pumps: PEPE, TURBO, AIDOGE
The week has been extremely impressive for degenerate traders who love to gamble on the latest AI or memecoin surge available. This past week alone has seen PEPE surge by another 600% – that’s on top of the 3000% surge it provided the previous week – ArbDoge rose another 200%, and TURBO has exploded by more than 4000%.
The following chart shows the magnitude of the gains provided by these tokens;
It’s been a long couple of years since the market has seen such impressive gains in such a short period of time, and it’s safe to say that the bulls are officially back in town. The interesting part about this week’s price hikes is that it’s for new tokens. Popular memecoins such as SHIB and DOGE have seen no action during the same period, hinting that market participants are looking for new assets to get involved with.
Fortunately, one new asset, in particular, is making the rounds on social media as it starts to steal all of the headlines. So let us introduce you to SPONGE.
SPONGE – The Next Memecoin Ready for Explosion
Spongebob Token is built for those that were unfortunate to miss out on the PEPE and ArbDoge pumps, providing them with another chance to get positioned early for the price explosion. SPONGE is the latest memecoin to launch directly onto the Uniswap DEX and is swiftly gaining considerable momentum.
Described as the Krabby Patty of memecoins, paying homepage to the legendary TV show from which the token takes its name, Spongebob is on a mission to follow in the steps of PEPE, AIDOGE, and TURBO by creating a viral internet memecoin sensation.
Move over $PEPE, $SPONGE is here🧽🧽🧽 pic.twitter.com/2QFrqMAGhU
— $SPONGE (@spongeoneth) May 5, 2023
The token launched its liquidity pool on Uniswap on May 4th at 13:22 UTC. It didn’t undergo a presale or any fundraising of any sort. Instead, liquidity was added to the pool, and it started at a $2 million market cap price. Since then, the price for the token has exploded, and the market cap has surged beyond $6 million at the time of writing, providing 3x returns for those already invested. However, it’s important to note that the momentum is not slowing down, and investors are still piling into this token as they believe there’s a potential for some extravagant gains.
In fact, Jacob Bury, a popular YouTube and Discord analyst, believes that Spongebob Token might be the next memecoin to provide 1000x returns for early buyers – which can include yourself if you act quickly;
A quick Google Search for Spongebob Token will show you the levels of marketing behind the project as the memecoin starts to steal all of the headlines on popular publications across the industry.
It’s highly likely that the token is beginning to see enormous momentum due to the backing it has from alpha callers in the crypto space on Discord and elsewhere. $SPONGE seems to be the talk of the town for all of these private whale groups, and the size of the buy orders on Uniswap shows that some serious whales are starting to get involved. For example, the following screenshots show that lots of the buy orders for the token are 10ETH or more – with very few willing to sell at the present time;
In the first 12 hours of trading, the total trading volume for $SPONGE exploded past $3.5 million and continues to rise further.
Buy $SPONGE Before the Herd Catches On.
With the incredible trading volume and the 3x gains the token has already produced, we can be sure that the Spongebob token is already unlocking its viral growth potential as the word starts to spread across the internet. The Alpha influencers have started to catalyze an explosive entrance for the memecoin, and many analysts believe that the momentum is just getting started.
As a result of the hype, getting involved in the token as quickly as possible is important. Of course, you can buy the token directly on Uniswap, but the best place to go is to the project’s website to purchase the token using the Uniswap interface integrated, just to be sure you buy the right $SPONGE token.
Overall, with the FOMO seen in AiDoge, PEPE, and TURBO, we can definitely expect some significant gains from SPONGE in the coming days, so it’s best to position yourself as early as possible.
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