Wax Price Prediction: WAXP Climbs 12%, Yet Meme Coin SpongeBob Set To Be The Dark Horse

Updated: 27 October 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Join Our Telegram channel to stay up to date on breaking news coverage

The Wax price rose 13% to $0.05752 as of 1:25pm EST on 24-hour trading volume that jumped 660% to $153 million.

Some experts predict the token may hit a new high of $0.09 this year.

WAX Continues to Rally After New Amazon Gaming Partnership

The coin’s rally has seen it move to #32 among the most traded cryptocurrencies based on CoinMaketCap data at around 07:00 EST.

The 24-hour technical analysis of the WAXP/USDT pair agrees that the token demand is high. The market summary shows a “Buy” sentiment at 15, and the moving averages (MA) show a “Strong Buy” sentiment at 14, with the selling pressure at 0. And while the relative strength index is at 61, the upward price movement continues.

Another token that may be able to keep pace with WAX is SpongeBob, a new meme coin project on its way to becoming the next internet sensation after announcing its staking launch.

SpongeBob Attracts Investors With Staking Set to Launch in 5 Days

Meme coin SpongeBob ($SPONGE) has increased by nearly 16% in the last 7 days to reach a selling price of $0.00011. The bullish trend in the token’s price is due to the announcement of the launch of its staking feature, which is scheduled for November 1.

With just five days before the official launch, more buyers have been attracted to SpongeBob.

🚀 Big News, #SPONGERS! 🧽

Starting November 1st, you can STAKE your $SPONGE tokens and dive deep into passive rewards! 🌊💰

Get ready to soak up the damp! 🚢💦

Stay tuned for more details! 📢#SpongeStaking #Crypto #Web3 pic.twitter.com/6slxnX3ON2

— $SPONGE (@spongeoneth) October 21, 2023

The meme coin project picked its name from the popular Nickelodeon cartoon character SpongeBob SquarePants, but there’s no affiliation between the crypto project and the cartoon producers.

At a time when the meme coin market is hot with projects like Shiba Inu-Barbie (SHIBIE) rocking the internet after the blockbuster Barbie movie in 2023, SpongeBob’s staking feature couldn’t have come at a better time.

However, SpongeBob has yet to release information about its staking rewards or annual percentage yield (APY) on its website. We expect the project team to provide more details as time passes.

Join the SpongeBob Wave Now that the Meme Coin Market is Hot

The SpongeBob project provides passive investors with a solid opportunity to put their tokens to work and earn returns. With the meme coin ecosystem racking up different tokens with massive gains, now is the best time to buy some $SPONGE tokens for long-term gains.

Excitement is already building up as investors anticipate the $SPONGE staking launch. So, it’s safe to say SpongeBob is on its way to becoming the best meme coin, as it will continue to rally in price with increased demand from traders.

$SPONGE is boiling right now, so you can visit the official SpongeBob website to learn how to buy and lock in some tokens before the November 1 staking launch. As a new feature, you can expect significant APY before more investors join the staking pool soon.