Upcoming End to $SPONGE Airdrop Competitions Sparks Interest: Should You Invest Ahead of the Team’s Anticipated Announcement?

SpongeBob SquarePants themed-meme coin $SPONGE, which back in May briefly marked itself as one of the year’s most successful meme coins, is reigniting hype ahead of an exciting airdrop.

Season 1 of the meme coin’s exciting airdrop competition is quickly ending. As much as 10% of the total token supply might have been allocated to the airdrop.

Entries must all have been made by the 30th of October, while the winner of the airdrop will be chosen on the 1st of November.

Don't forget, #SPONGERS! 🧽 $SPONGE Airdrop Season 1 is almost over! 👀

📅 Entries open until Oct 30th
🎉 Winners selected on Nov 1st

🔗 Learn how to enter below:https://t.co/lzRhjW4oLL#SPONGE #Web3 #Crypto #Alts pic.twitter.com/mh1wcpO6cV

— $SPONGE (@spongeoneth) October 13, 2023

Instructions to enter can be found in $SPONGE’s official discord channel.

According to $SPONGE team sources, the announcement of the airdrop season 1 competition winner will be followed by an exciting new announcement.

Our sources refused to elaborate on what this announcement might be, leaving observers speculating for now.

Other meme projects have ignited more interest in their tokens by implementing token staking, token buy-backs, or even launching dApps powered by the meme project’s native token.

Could $SPONGE’s utility as a meme coin be about to jump?

It seems highly likely.

Is it the Right Moment to Dive Back into $SPONGE?

As per DEXTools, $SPONGE’s market cap was last a modest $2.3 million, very low considering the token has $2.9 million in liquidity and still has well over 11,400 holders.

HODLers and liquidity miners still believe that $SPONGE has much potential.

At the end of the airdrop, as the competition draws to a close, investors are likely to be drawn to $SPONGE given its cheap valuation and amid the prospect of near-term airdrop gains.

You and your friend on the way to join the $SPONGE airdrop 🔥#Web3 #Crypto #SPONGE #Alts pic.twitter.com/7UX4W7Jjqj

— $SPONGE (@spongeoneth) October 15, 2023

But $SPONGE’s exciting upcoming announcement could be what reignites passion for the meme coin.

If, as seems likely, the team somehow adds utility to the token, then  $SPONGE could start trending on trading sites such as DEXTools, pushing the token price higher.

If $SPONGE, lasting just under $0.0001, could rally back to its all-time high price of around $0.002, that would mark gains of more than 20x.

Waiting for the #BullMarket any day now…#BearMarket #Web3 #Crypto pic.twitter.com/2tYfUU2SeQ

— $SPONGE (@spongeoneth) October 15, 2023

That might be a little ambitious in the near term, but $SPONGE certainly has the potential to get back to a market cap of around $10 million.

That could mean an easy 4-5x gain for traders ballsy enough to get back in.