SpongBob Token has announced its listing on MEXC Global, further fueling FOMO in the meme coin community. More CEX and DEX listings will soon follow to meet the growing demand for the token, which went live on Uniswap on 4 May 2023 and kindled a crypto frenzy within hours.
The meme coin has already secured listings on leading exchanges like LBANK, CoinW, BTCEX, and Poloniex. Rumors around a Binance listing are gaining momentum as SPONGE tops the crypto charts.
🧽 $SPONGE will be listing on @MEXC_Global 🧽
🧽 Details: https://t.co/vA3HLoW0Jj
🧽 More CEX listings coming your way ✅#Memecoin #Memecoins $TURBO $MONG $HER $JEFF $RIBBIT $POOH $BOB pic.twitter.com/NQ4MpgUo5O
— $SPONGE (@spongeoneth) May 9, 2023
From $2M to $90M+ Market Cap in Just Four Days
SpongeBob Token is the latest meme coin sensation. The unpretentious token inspired by the SpongeBob SquarePants TV show has been trending across crypto communities since its launch on 4 May 2023. Within four days, SPONGE surged by over 4000% as its market cap jumped from $2 million to reach as high as $90 million.
Not surprisingly, it was the hottest token #1 on DEXTools and the top-performing token on CoinMarketCap during the weekend.
The mania knows no geographical bounds. To give you a better perspective, SPONGE became the top-3 trending topic on Twitter in India at one point. Many investors started to pour large investments of up to 10 ETH each into the token, stretching the trading volume by the minute unlike anything seen before in the market recently. SPONGE has a total limited supply of 40.40B.
SPONGE recent trades
Although SPONGE has no association with Nickelodeon or their creation SpongeBob SquarePants, it is strategically designed to capture the show’s viewers. Released in 1999, the show has a massive number of viewers spread across generations.
People who grew up watching SpongeBob and are now in their late 20s and early 30s, in particular, are the ideal target group of meme coins. They are more open to investing in experimental projects like SpongeBob Token, which pays homage to a meme we all love and recognize in a new medium. SpongeBob Token’s ascent to the top crypto charts within hours of the Uniswap launch makes it a strong candidate for tier-1 CEX listings.
Top crypto publications cite it as one of the most promising cryptocurrencies to invest in this year. And according to top analysts, SPONGE is a better alternative to the new crypto sensation PEPE – the third-largest meme coin by market cap.
Can SPONGE Dethrone PEPE?
It goes without saying that PEPE set the stage for the ongoing meme coin craze. SPONGE capitalizes on it to make mainstream headlines. The latter has a more robust foothold.
This is most strikingly evident when it comes to liquidity. PEPE is facing liquidity challenges as expected from its climb to be among the top 50 cryptos within a month of launch. Whale movements aggravate the situation. SPONGE, on the other hand, is largely immune to the whims of whales. The project has locked liquidity with Team Finance, an industry leader in project security and automation. The measure makes SpongeBob Token highly resistant to rug-proofs common in the meme coin market.
SPONGE Tokenomics
“SPONGE is a meme coin with no intrinsic value or expectation of financial return. There is no formal team or roadmap. The coin is completely useless and for entertainment purposes only,” reveals the website. But the locked liquidity instills faith in the project and explains the token’s meteoric rise. SPONGE is a credible cash grab this month.
Another important factor that makes SPONGE an ideal crypto investment is the relatively lower market cap. While PEPE has a massive market cap of $800 Million, SPONGE has a larger room for growth, being still in the expanding phase.
In the event that PEPE expands to $1B, new buyers will earn a meager profit of 25%. At the same time, new SPONGE investors are eyeing a 25X explosion as it accumulates a $1B market cap this month. And it won’t be long before SPONGE outstrips PEPE to take the third position in the meme coin market.
In essence, traders who missed out on PEPE have an even better opportunity awaiting in SPONGE.
The Best Time to Buy SPONGE is Now
The SPONGE mania has cooled off a little in the last few hours. The total number of SPONGE holders is 9.51K. According to DEXTools.io, SPONGE is trading for $0.001001 now with a total market cap of $48.38M. Investors who are looking for a low entry to the token can buy the dip to book high returns by the end of the month.
The upcoming tier-1 exchange listings, including the rumored Binance listing, will catalyze the demand for the token in the coming days.
SPONGE V3 Pool Info, 9 May 2023
SPONGE is now selling on the Uniswap DEX, in addition to multiple CEXs. You can buy the token by entering the contract details into these platforms. But the official website’s integrated Uniswap interface provides an easier method. That also saves you from the many SPONGE imposters doing the rounds on exchanges.
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
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