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SPONGE, the latest addition to the meme coin world, has been making a lot of noise since its launch. With recent listings on popular cryptocurrency exchanges such as Poloniex and MEXC, the Spongebob coin has captured the attention of traders and investors alike.
But the question on everyone’s mind is: will it outperform the impressive price performance of the mem coin, dear Pepe?
As the cryptocurrency market continues to grow, meme coins have become a popular trend among traders and investors. These coins often have fun and quirky designs that appeal to young people, making them a hit with social media users.
And SPONGE is no exception. With its unique sponge-shaped logo and playful marketing, it quickly gained popularity in the cryptocurrency community.
SPONGE: a rising star among memes?
SPONGE, a new Ethereum-based ERC-20 meme token, has quickly become a rising star among the many meme coins thanks to its unique branding and impressive price performance.
Currently priced at 0.000452, the token has already established itself as one of the most successful meme coins this year despite falling 43.53% in the last 24 hours.
The token debuted on the decentralized exchange Uniswap on May 4, and in just 48 hours it was listed on CoinW and Toobit. This lightning-fast listing process is in stark contrast to PepeCoin (PEPE), which took three weeks to list on its first centralized exchange.
In fact, after listing on various exchanges, SPONGE was incredibly close to reaching a market cap of $100 million and, according to CoinMarketCap, ranked among the top 275 cryptocurrencies by market cap.
One of the impressive achievements of SPONGE has been the trading volume on Uniswap. In just four days of launch, its 24-hour trading volume exceeded $100 million, well above PEPE’s trading volume.
This made SPONGE the best-selling coin on Uniswap, excluding wrapped Ethereum. With such impressive numbers, many are wondering if SPONGE can surpass the success of its meme coin rival, Pepe Coin.
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Meme Coin Craze overwhelms the cryptocurrency market
The impressive price performance of SPONGE is part of a larger trend in the cryptocurrency market: the meme coin craze. These tokens have gained immense popularity among traders and investors in recent months, with many hoping to get rich with the next big meme currency.
The success of meme coins like SPONGE and Pepe Coin is a reminder that the cryptocurrency market is not only driven by technology and fundamental analysis. Rather, it is a reflection of human behavior and sentiment, which can be as unpredictable and volatile as the market itself.
As the meme coin mania continues to sweep the cryptocurrency market, it will be interesting to see which tokens rise to the top and which fall by the wayside.
– Featured image from the Business 2 community