Crypto Trader Michael Wrubel Just Made $100k From $SPONGE Meme Coin

Updated: 10 May 2023

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Michael Wrubel talked about how, despite being a newcomer, SPONGE has shown amazing results, with a 1501% rise in its first week. As a result of the token’s popularity, DEXTools has placed SpongeBob at the top of their hot pairs list.

Michael Wrubel – SpongeBob has Received an Overwhelming Amount of Community Support

The SpongeBob (SPONGE) token has attracted the interest of the cryptocurrency community despite being introduced directly on the Uniswap DEX without a presale and with minimal social media promotion preceding its launch. The SpongeBob project accomplished a noteworthy feat with its quick rise to popularity.

Additionally, the official SpongeBob Twitter profile has rapidly increased in followers as interested investors try to learn more about the project’s prospects. The SPONGE market soared by over 900% 24 hours after it was launched, making the token’s entire market worth over $20 million.

It’s not entirely unexpected to see whales entering the market at previously unheard-of speeds, given the immense momentum they have behind them. Some mega-whales are participating, with one whale investing 100 ETH in the SpongeBob token.

The team’s renunciation of ownership of the smart contract that governs SPONGE is another factor contributing to the whales’ involvement. As a result, the team is unable to create any tokens or modify the network.

Whales feel secure investing in the project because the team cannot alter the blockchain properties underlying it because ownership has been renounced. Whales also felt more confident to keep investing in SPONGE when the team disclosed that the top wallet had been vested for a two-year term.

Whales were a little worried because the top wallet held roughly 30% of the supply, and they weren’t sure whether the owner would overrun the market with sponge. The team disclosed that the token had been vested for two years to allay their worries.

See our guide to the best meme coins to buy here.

SPONGE Major Exchange Listing

The fact that SPONGE has more than 10,000 holders indicates the project’s tremendous momentum. Things for SPONGE appear to be improving as prominent crypto analytics platform CoinMarketCap chooses to list the coin less than 24 hours after its initial launch. Guide on how to buy SPONGE token here.

Despite a recent downturn in value—down 15.60% in the last day to $0.000905—SPONGE will list on May 11 at MEXC, the seventh-ranked centralized exchange (CEX), starting at 10:00 UTC. Exchanges quickly approved the coin for listing after being taken aback by the huge buyer interest in the coin and the significant liquidity behind the project.

🧽 $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

The listing of SPONGE on CoinW and Toobit recently has been advantageous for DEX buyers with limited funds who were having problems paying for gas. The new meme coin also launched on LBank exchange. According to rumors, there are a growing number of listing inquiries for SPONGE.

Conclusion

SpongeBob is attempting to capitalize on the meme coin trend in the hopes of fast generating parabolic returns for its owners. There is a strong desire to purchase meme coins. It is important to note that now could be the ideal time to purchase it.

Therefore, acquire SpongeBob tokens right away if you want to capitalize on the meme coin market’s current spike. Analysts have already predicted that SPONGE will be the upcoming viral meme coin.

As a result of the popularity of the Pepe token, it is clear that traders are on the lookout for additional meme coins. The SpongeBob token seems to many to be an interesting prospect.

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