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SpongeBob (SPONGE) is Uniswap’s latest meme token. Due to meme tokens’ growing popularity in 2023, the token’s first day of trading garnered over $8 million.
Meme-inspired cryptos like Pepe and Turbo’s early investors have seen significant investment increase in recent weeks. New coin SpongeBob ($SPONGE), a meme token using Ethereum’s decentralised framework, is doing well and garnering investor interest.
What is $SPONGE
SpongeBob SquarePants, an American animated television series, sold $19 billion in merchandise during its first 20 years on air, making it one of the most financially successful cartoons in history. Developed on the Ethereum blockchain, $SPONGE is a meme coin based on the hit show. It aims to produce high-quality memes and grow a community-driven digital asset.
SpongeBob ($SPONGE) is a meme-based, blockchain-based cryptocurrency based on the Ethereum platform. On May 4th, 2023, the Uniswap DEX began trading $SPONGE, the network’s native currency, and an ERC-20 token.
One of the biggest decentralised exchanges in space, Uniswap has a 24-hour trade volume of more than $650 million. With over 1,000 tokens, Uniswap gives millions of people access to some of the best cryptocurrency coins globally.
With the recent release of $SPONGE on this exchange, investors will be hoping that a well-known marketplace like Uniswap will bring the token to more users and enhance trading activity.
As well as Uniswap, Spongebob token has been listed so far on two CEX platforms, CoinW and Toobit.
$SPONGE / $USDT spot trading is now available on @CoinWOfficial https://t.co/VmLnXCyxue pic.twitter.com/edGStJ7Mgj
— $SPONGE (@spongeoneth) May 6, 2023
This meme token was once referred to by many as the “Krabby Patty of all meme coins,” per the SpongeBob Twitter feed. The token has been named after the well-known television programme “Spongebob Squarepants,” as its name suggests.
Why SpongeBob tokens are popular?
The surge in the value of the SpongeBob token may be attributed to the fact that people have been aiming to get it to the same level as the other meme token. SpongeBob is a coin that is focused entirely on the community and makes it clear that its goal is to increase the asset’s value to $1 billion as quickly as possible.
And the most recent developments point to the possibility that it could achieve that goal. The value of one $SPONGE token has increased by 400% in just the previous twenty-four hours. In spite of the fact that there have been a few retracements on occasion, the general market trend is driving the token higher.
The current downward trend that has been observed in a number of traditional banks is another reason why the $SPONGE token is garnering a lot of attention. The financial institutions Signature, SVB, and PacWest have all failed, and as a result, people’s faith in conventional institutions is diminishing.
And the regulatory tangles are also close to snuffing out Coinbase, which makes DEX platforms the perfect location for purchasing tokens and memecoins the right tokens to buy. Another factor is that many people have limited financial resources, which means they can’t afford to invest substantially in cryptocurrencies.
Not everyone thinks it’s a good idea to put capital into large crypto assets. But several crypto individuals have come forward to advise that if funds are tight, it’s worth it to take a risk on memecoins. It appears to be true as well, given the current memecoin market.
Extreme meme coin hype
It hasn’t come as a complete shock that $SPONGE has been growing at an exponential rate over the past day. Since the middle of April, the cryptocurrency market has been experiencing what is being referred to as a “meme coin frenzy.” Coins such as WOJAK and PEPE have been driving this trend.
PEPE and WOJAK’s remarkable performance may be due to many investors getting “burnt out” by the US banking sector’s crisis. Many investors are considering alternate investments after news of major financial organizations’ unethical behavior. Visit and learn from our guide to the best meme coins to buy here.
Elon Musk’s recent move to switch the Twitter logo to the DOGE logo has also sparked a huge surge in the popularity of meme coins, indicating the incredible demand for such tokens, which is positive for the cryptocurrency industry as well as meme coins like $SPONGE, positioning it as the next 1000x crypto around.
Conclusion
SpongeBob believes the memecoin will experience meteoric growth in a short period of time. The desire to invest in memecoins is strong. This could be the perfect time to make the purchase.
As a result of the token’s promising start and its rising market value, it has attracted the interest of crypto industry professionals, who are speculating optimistically on its future. Because of its recent addition to Uniswap and its high demand on DexTools, $SPONGE is a good example of a currency with significant expansion possibilities.
Related
- Missed PEPE Coin? $SPONGE Meme Coin Might 1000x
- Spongebob Token (SPONGE) Jumps to $2.7 Million Market Cap in Just Hours
- The Next 1000x Meme $SPONGE UP 400%
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