Shiba Inu is the world’s second-largest meme coin by market cap. The token has been mostly lukewarm this year, contrary to most cryptocurrencies that have had a series of rallies. It has lost 11.4% in the last thirty days alone, dispiriting the community.
But that’s not the reason Shiba Inu price won’t hit $1 – now or ever.
$1 is an Absurd Goal for Shiba Inu
SHIB has a total supply of 999,990,881,124,151. Even if the project manages to build a spaceship that sends people to the moon on vacation, $999,990,881,124,151 is a wildly unrealistic market cap. If anything, Shiba Inu is too overrated for the current market cap of 5.8B, given its flimsy value propositions. With little intrinsic value, it’s only a matter of time before the bubble bursts.
Having said that, Shiba Inu has managed to generate a lifetime ROI of 616547.92%!
It went on to show what the crypto community is capable of when brought together under a common mission. Although the project development plans were poor back then, investors piled in on the token in the hope of making quick cash. Despite losing 88.76% value, the community hasn’t deteriorated as crypto critics would expect for a ‘largely useless’ coin.
It goes without saying that meme coins rely on community hype to build value and Shiba Inu is no exception. But adventurous investors continue to buy the token to take advantage of meme coin rallies. Even if it doesn’t flick a magic 100X spike, it is a good buy during meme coin rallies. In the best scenario, Shiba Inu price can kindle a 230% bull run toward the end of this quarter if it continues to hold above $0.00001. At present, Shiba Inu is selling for $0.000009955.
The next bull run will be fueled by the ongoing expansion and development of the Shiba Inu ecosystem. The team will have to stick to its roadmap and cross the ShibaSwap decentralized exchange (DEX) and the Shibarium Layer 2 development milestones on time to achieve this.
In essence, the best time to buy Shiba Inu was two years ago. It’s too late to pin your hopes on the meme coin now. It’s saturated. Emerging meme coins like SpongeBob Tokens and AiDoge are the best bets now.
$SPONGE Pumps the Latest Meme Coin Craze
SpongeBob Token took over the crypto market on May 4 with no presale leading up to the listing. Within hours of the launch, it went viral. On 5 May 2023, Friday, the token gained 392.69% on the daily window.
Meme coin investors on the hunt for the next crypto explosion are flocking to Uniswap to take advantage of the hype around the project. It is also catalyzed by traders who missed out on meme coins like $PEPE and $TURBO. Analysts predict a 100X pump for $SPONGE in the coming days.
$SPONGE UNISWAP V3 POOL INFO, 5 May 2023, source: DEXTools
At the time of this writing, SpongeBob Token has a 24h volume of $13.9M. The total market cap has risen to $14.94M within hours, with whales hoarding the meme coin. The bullish sentiment is building up, if the fast expanding market cap is any sign.
Another aspect that has worked in the favor of the token is its direct Uniswap DEX listing. Since the FTX collapse, investors are increasingly suspicious of centralized exchanges. Regulatory troubles that continue to plague CEXs like Coinbase have also reinforced the sentiment. So, $SPONGE’s decision to go on Uniswap without any presale or CEX listing has been received with enthusiasm. Decentralized exchanges have better transparency, being free from the hold of agencies.
Locked Liquidity Makes $SPONGE Immune to Rug Pulls
While most crypto coins face liquidity challenges during rallies, locked liquidity with Team Finance safeguards SpongeBob Token.
It harnesses the nostalgia around the SpongeBob SquarePants TV show that ran on Nickelodeon for 13 seasons beginning in 1999. It is the most-watched children’s TV show of all time. Interestingly, people who grew up watching the show belong to the same age group as most crypto traders. And those who don’t must still be familiar with the characters of the show from the popular memes centered around it.
🧽🧽 $SPONGE Quick Links 🧽🧽
Website: https://t.co/htE48i2cer
CoinMarketCap: https://t.co/e0kEyBWwxi…
Chart: https://t.co/7GzOsf7UQJ…
Contract address: 0x25722Cd432d02895d9BE45f5dEB60fc479c8781E pic.twitter.com/Od37X6PKSb
— $SPONGE (@spongeoneth) May 4, 2023
SpongeBob Token has all the right ingredients to be the next big meme coin. But you need to buy the token at the earliest to reap the benefits of the bull run. To learn more about $SPONGE and its future plans, follow the project on Twitter, Telegram, and Discord. It has successfully caught the attention of alpha callers in Discord, who are ballooning up the hype to take the token to the top-3 meme coin list.
For real-time metrics, track the token on DEXTools.
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