SpongeBob is a community-centric memecoin. Having recently been listed on Uniswap, SpongeBob (SPONGE) ranks among the fastest tokens to reach close to a $100 million marketcap within days of being live. The new token is closely following the footsteps of other memecoins that have recently skyrocketed – like Pepe, Turbo, and Wojak. After a retracement, $SPONGE is now finding support at around a $10 million market cap. Will it continue its streak in the months and years to come? We explore the answer to this question in this guide and estimate a potential SPONGE price prediction. Sponge Price Prediction SpongeBob, also just known as Sponge, is a memecoin that rather than following traditional market fundamentals, follows community sentiments. And the community’s perception of this token is high at the moment. With that in mind, here are some of our SpongeBob price predictions forecasting the heights that SPONGE can grow to in the next few years. 2023 SpongeBob was launched on May 4th, 2023, and people quickly gravitated toward it. Many think of it as a memecoin alternative of Pepe (PEPE) which became the fastest token of 2023 to reach a $1 billion marketcap. The token has been trading around the $0.0005 mark right now, but since it is a memecoin, we can say that a retrace might come. And if history is any indicator, that correction will be bigger. While not completely going back to its all-time low, ($SPONGE) can drop around the $0.0002 level by the end of 2023. That said, higher peaks are generally followed by massive sell-offs, which may push the token further down to around the $0.00015 mark as well. 2024 SpongeBob has no utility to speak of. It has no roadmap or a standard fundamental that would make it optimal as a long-term investment. However, the meme-like themes it carries are huge. That is one factor that might push its value further in 2024. But sans any utility, don’t expect the token to replicate the feat of 2023. So, by our conversation estimate, it won’t be too far to think that, in 2024, the SpongeBob price may reach the $0.0003 mark. 2025 and Beyond If SpongeBob Squarepants continues to be relevant in the meme space in 2025 – and its as popular as ever despite the hit TV show first hitting the screens in 1999 – many media companies might invest in the $SPONGE token. That might push the developers to enlarge their team and bring utility to this otherwise “no-use” asset. If that happens, people may start to see SpongeBob as a long-term investment – a factor that might catalyze the growth of the SpongeBob price beyond the $0.0006 mark. Visit SpongeBob Site What is SpongeBob Token? SpongeBob is a memecoin, a community-centric token designed to capitalize on the popularity of SpongeBob Squarepants. SpongeBob Squarepants was an animated series that ran over 12 seasons. Its main character, “SpongeBob Squarepants”, is known for his quirky comebacks as he hangs around the city of Bikini Bottom. Released on May 4th, 2023, Spongebob was listed on Uniswap with no prior information. But as nothing is hidden from the crypto space, especially from a crowd that has been clamoring for an asset that gives them the same advantage as the Pepe coin, Spongebob jumped by 500% within 24 hours. Pepe (PEPE) is a memecoin that was released in the middle of April 2023. Based on the popular “pepe the frog” meme, this token didn’t get noticed until 30th April 2023, when it went from $0.00000003313 to $0.000004217, marking a massive over 100,000% increase that put all of the attention on memecoins. Soon, people started to find the best memecoins to buy, and they ended up encountering the likes of Wojak and Turbo. Wojak rose by an impressive 1.7k%, and Turbo grew by more than 1000% in a relatively short time. Spongebob is trying to replicate the feat of these memecoins. And it has been successful at it so far. Visit Spongebob Site Spongebob Price Analysis And Profit Potential Spongebob is following Pepe’s footsteps closely. From the outset, this token seems to be created for the sole reason for people invest in something after they missed their chance to make gains from the Pepe (PEPE) token’s price increase. Spongebob was released on May 4th and started forming one green candle after another. The hourly-trading chart showed no bearish signs initially, and even though the token is largely inside the oversold zone, it took it 1 day and 10 hours for the Spongebob price to rise by a massive 3,000%. SpongeBob became the top trending token on DEXTools during that time, and now is currently at #2. That rise was soon followed by a retrace – which is common for memecoins – and the $SPONGE token is now consolidating around the 0.236 Fib level. $SPONGE Hourly Chart – Courtesy of DEXTools.io At press time, the token is trading around the $0.0005 mark. Hourly trading charts are showing some consecutive red candles, but there are no signs of a selling frenzy at the moment. It means that this token is still being held on by those who wish for the token to retest its all-time high once again. The token itself has no fundamentals. Instead, the official website describes it as a “community meme token that gets you ready to absorb the damp.” So what could the potential for this token could be in the future? There are two things we can look into to get the answer. The Spongebob Fanbase A 2009 study reported that 45 million people in America alone watched Spongebob Squarepants. The official Facebook page of this show has over 50 million followers. Spongebob has had so many memes already that Times Magazine created a list in 2019 listing the best ones among them. While the Spongebob memecoin has no affiliation with the Nickelodeon show, it can capitalize on that in order to get more traction in the market. The second factor that we have to consider is the rise of the Pepe token. Pepe (PEPE) token – The Best Performing Memecoin of 2023 The PEPE token came out of nowhere around mid of April 2023. Based on the “Pepe the frog” meme. The token’s popularity first got noticed at the end of April 2023. However, the interest soon turned into a major bull rally as more and more people started to invest in this token. And by 5th May 2023, PEPE went up by over 100,000%. That level of growth hasn’t occurred for any token since the arrival of crypto winter in 2022. Many have started to believe that people’s interest in PEPE has something to do with Bitcoin getting more support. And while that may be true, Bitcoin has failed to sustain itself around the $30k mark for a long time. Also, the token is out of reach for entrant investors, who have gotten suggestions from experts to invest in memecoins or low-cap cryptos instead. PEPE became the fastest token to reach a $1 billion market capitalization in 2023 and has now been listed by Binance. However Coinbase has so far refused to list the coin due to its right-wing political connotations in the internet meme space, calling it a ‘hate symbol’. While that led to a Pepe price crash, it isn’t something $SPONGE is known for. As PEPE peaked, last-minute investors started to focus on other cryptocurrencies with a similar philosophy – and they picked Turbo and Wojak. But the rise of these tokens got insignificant as time went on. People were in need of another meme-based token to invest in. That’s when the $SPONGE token burst onto the scene and quickly gained ground. It has the same fundamentals as Pepe coin – that means none at all at the moment – and it doesn’t hide it. Even inside the disclaimer, Spongebob has clearly stated that the token is completely useless and is for entertainment purposes only. Experts believe that it is honesty that is pushing more people to rally around it. The success of the rally has led to SPONGE not being picked by not one, not two, but four cryptocurrency exchanges. Toolkit and CoinW were the first exchange to take notice, followed by LBank. Poloniex became the third exchange to list SPONGE. And recently, BTCEX also listed SPONGE tokens. MEXC Listing is also coming soon. Is Spongebob a Good Investment? The bullish trajectory Spongebob has taken might make many ask whether it is a good investment or not. And the answer is subjective to what an investor is looking for. For investors looking to make intra-day gains quickly, Spongebob is a good investment. The token’s recent rise has proven that the community cares about the fun aspect of the token that has nothing to do with market fundamentals. That factor – as shallow as it is – can push a token’s value up quickly. Seems like @TurboToadToken and @spongeoneth are two — Dollar Monopoly (@dollar_monopoly) May 5, 2023 It is clear that whales and influencers are currently interesting in buying SPONGE, which is driving the community to put more interest in this token. We don’t know how many of these investors will hold SPONGE for a long time – which is the only thing keeping the price as high as it is. And when the peak is enormous, especially for memecoins, the retraces that come after are also bigger. But how sooner or later that retrace might arrive – no one can tell. For now, even experts are saying that memecoins are the best cryptos to invest in this altcoin season. However, that recommendation might be time-specific since memecoins have been behaving in favor of investors at this time. What are the Benefits of Sponge Token? The Spongebob token has no utility, no roadmap, and no fundamentals. But here are the reasons that investing in Dogecoin might be a good option for investors. Memecoins are the On the Rise One of the main points to be made in favor of memecoins is that currently, they are rising. That makes them the perfect crypto for short-term investors. Community sentiments are bullish – which has directly translated to bullish developments for this token. Thriving Community Spongebob has come out only recently, but it has already accumulated hundreds of followers on most social media platforms. Members of that community are continually creating creative memes to keep the excitement around the SPONGE token alive. And with the arrival of meme-generating tokens AiDoge, all memecoins, like Spongebob, would benefit. Affordable Tokens Memecoins are affordable. Major altcoins like Ethereum and Bitcoin can prove to be great investments. But they are beyond the reach of new entrants. So for those who have less than $10k or $100 to invest in cryptocurrencies, tokens like Spongebob are far better options. Crypto presales also offer an advantage, but as far as cryptos that are already on the listing charts are concerned – Spongebob is the way to go. And exchanges have already started to notice. In its latest tweet, So far, CoinW, Toobit, MEXC, BTCEX, Bitget, and Poloniex have listed SPONGE. ? Spot New Listing #Bitget will list $SPONGE/USDT trading pair on May 12th in #Innovation Zone. @spongeoneth ✅ Deposit now open ? A total $100 #giveaway for 10 members! Just simply RT + TAG 3 friends. More details: https://t.co/7OPKKTEbxU pic.twitter.com/0I8dvjKp3p — Bitget (@bitgetglobal) May 11, 2023 That listing frenzy makes Sponge a faster listed coin than even Pepe in its early days. Also, the token is growing faster than even PEPE. So, it might reach its $1 billion market capitalization soon. Sponge Tokenomics Sponge’s tokenomics has been dedicated dot the community – mostly. 61% of the token’s total supply is for providing DEX liquidity, 10% is for CEX liquidity, and the remaining 29% is dedicated to the community. Regular Giveaways and Airdrops Being a community-centric token, Sponge has been making regular appearances on Twitter, partnering with other cryptocurrency projects to offer airdrops and giveaways. In its most recent giveaway, SpongeBob announced that it would be dropping a hefty number of SPONGE tokens on Discord. Visit Spongebob Site Spongebob’s Social Media Channels To keep in touch with this thriving cryptocurrency and make the most out of it, it is important to keep up with its social media channels. These channels will give you an insight into why people are buying SPONGE. And they will also give you access to a fun community to join. Twitter Telegram Discord How to buy Sponge Tokens? Here is a quick guide on how to buy Sponge tokens. Go to the official website – sponge.vip Connect your wallet, such as a MetaMask or Trust Wallet Swap your ETH or USDT for Spongebob For detailed information, check out our how-to-buy Sponge guide. The Verdict Sponge is a memecoin that only recently entered the crypto charts and is making bullish waves across the ecosystem. The token has sent a positive ripple across markets when people have started to doubt whether to invest in cryptocurrencies. And for that alone, we might consider it a good investment. It has topped the most trending crypto coin charts on CoinMarketCap, and even been mentioned in New York Magazine. That said, Sponge coin has no utility or a roadmap. Even the official website’s disclaimer has stated that the token is “useless and for entertainment purposes only”. Such factors do put a question mark on the long-term prospects of this token, but Spongeob token has proven that as long as the community is backing the token with substantial support – bullish days could follow. Its also a low market cap coin, well under 5% of the market cap of Pepe (PEPE). Visit Sponge Site FAQs What is Sponge token? Sponge token is a memecoin inspired by SpongeBob Squarepants - an animated show that ran for 12 seasons. The token has no utility but takes advantage of the community aspect to grow in the crypto space. Is Sponge token a good investment? Sponge token might be a good investment for those who are looking for short-term intra-day trading gains. The token's recent uptick has proven that community fanfare can push the price of an asset just as well as traditional market fundamentals. However, for those looking for long-term investment options, it would be wise to wait for some utility to arrive in the Sponge ecosystem.
