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The highly anticipated Spongebob (SPONGE) meme coin has just launched on the LBank centralized exchange (CEX) on May 7. LBank is a well-respected exchange ranked 16th globally by CoinMarketCap, boasting a 24-hour trading volume of over $800 million.
To prepare for trading, users can deposit funds on LBank now and participate in the $5,000 bonus promotion. Additionally, Spongebob enthusiasts can enter a meme contest for a chance to win one of fifty $100 prizes.
https://twitter.com/spongeoneth/status/1654947972579303425?s=20
Despite launching just three days ago on decentralized exchanges, the Spongebob token has already skyrocketed to a market cap of $75 million. Notably, Spongebob has even surpassed Pepe in securing its first CEX listings, with rumors of additional listings on the horizon.
Excitement continues to build around Spongebob, with speculation of an upcoming listing on Binance. The coin’s market cap is projected to reach hundreds of millions of dollars, as it surpassed Pepe in the speed of its ascent to the top 10 meme coin table rankings on coinmarketcap.
$SPONGE Listed on Three Exchanges with Shiba Inu Rumors, Impacting Dogecoin and Shiba Inu Prices and Trading Volumes
The SPONGE coin has recently been listed on three different exchanges with ease, and there are rumors circulating that the team behind Shiba Inu may be involved with the project. Due to the high buying interest and liquidity of the coin, CoinW and Toobit, ranked 23rd and 32nd, respectively, both listed SPONGE, making it more accessible for DEX buyers with limited means who were previously struggling with high gas fees.
As a result, trading volumes and prices of other popular meme coins like Dogecoin and Shiba Inu are dwindling. The increasing frequency of buy orders exceeding $100,000 demonstrates the growing popularity of SPONGE, with one whale spending $338,723 on the coin.
$SPONGE Coin Emerges as Possible Next Pepe Coin with Growing Interest and Potential for Parabolic Returns
With the surge in activity surrounding meme coins like Pepe and $SPONGE, gas fees on the Ethereum network are rising rapidly. $SPONGE is expanding at a faster rate than Pepe, with more CEX listings rumored to be coming soon.
This new token was launched on the Uniswap DEX just a few days ago, and it’s already making waves in the crypto world. The price has skyrocketed by a massive 1,154% since its launch, currently trading at around $0.002037 at press time. Even well-known crypto analyst Jacob Bury is excited about this token, stating that it has the potential to increase in value by 1,000 times.
What’s more, SPONGE has already been listed on CoinMarketCap, which is an impressive achievement for a new coin. It has over 7,000 holders, with 4,400 increasing in the last 24 hours. With a market cap of $75 million, even crypto whales are showing interest, with buy orders of $80,000 or more being reported.
Many investors are eager to get involved in SPONGE, hoping to replicate the success of Pepe Coin. You can purchase SPONGE tokens using wETH on the Uniswap DEX, or directly from the SpongeBob Token website. With all the hype surrounding SPONGE, it’s no wonder investors are clamoring to get involved.
Experts predict that $SPONGE could eventually be listed on top 10 exchanges like Kucoin and Binance. The coin is attracting interest from traders and investors who missed out on other popular meme coins like Pooh, and Turbo.
The project’s Discord server is also seeing increased activity. Analysts predict parabolic returns on investment for early $SPONGE investors, as the coin is only three days old. Additionally, $SPONGE is trending at No. 1 on Twitter in India, and LBank’s base in China is expected to boost buying in Asia.
Why $SPONGE’s Liquidity Makes it a More Attractive Investment Than PEPE
$SPONGE outperforms Pepe in several ways, particularly in terms of liquidity. Despite having a much lower token supply of 40.4 billion compared to Pepe’s 42 trillion, $SPONGE appears to be more attractive to traders due to its relatively modest tokenomics. In the past 24 hours, $SPONGE has seen a 157% increase in value at $0.001923, while Pepe has experienced a 14% decrease. However, the most significant factor is liquidity.
Although $SPONGE had only one-hundredth of Pepe’s market cap, it had half the liquidity. Since then, the market cap of $SPONGE has increased to $42.30 million, and its liquidity has also grown to over $10.84 million.
This means that investing in $SPONGE is probably safer and more profitable than investing in Pepe, as Pepe’s weaker liquidity and market depth make it more susceptible to market manipulation by large holders. Furthermore, 99.54% of $SPONGE’s liquidity is locked in, making it even more attractive to potential investors.
Investors can jump on the project at the official sponge website to buy the $SPONGE token.
Related
- Missed PEPE Coin? $SPONGE Meme Coin Might 1000x
- Spongebob Token (SPONGE) Jumps to $2.7 Million Market Cap in Just Hours
- Top Crypto Gainers Today, May 6 – PEPE, FLOKI, AiDoge, yPredict, DLANCE, BIT, ECOTERRA, SPONGE
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