In 2023, meme coins are making a big return to the cryptocurrency markets. New meme coin projects like Pepe Coin (PEPE), Turbo (TURBO) and others have attracted major investors in recent weeks. Early adopters expect at least a 1000% ROI, and while that's impressive, these meme coins aren't the best options on the market.
A new meme coin inspired by the popular SpongeBob cartoon, Sponge Token ($SPONGE), is gaining momentum and has a chance to dethrone Pepe Coin as the fastest growing meme coin. The $SPONGE token is now available on the Uniswap DEX since May 4th and has increased by more than 300% in a few days, indicating a bright future for all token holders.
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Uniswap's 300% Price Increase Since IPO Shows Significant Growth
The Sponge token was launched on the Uniswap decentralized exchange on May 4. The launch was unannounced and is an unusual approach to market entry. Instead of securing enough investment for further development during the presale, this project was released on the first day on Uniswap.
Uniswap, one of the leading DEX exchanges on the planet, controls about 20% of the entire DeFi market. Therefore, it should come as no surprise that Sponge tokens have increased in value by over 300% since listing on the platform. In the first 24 hours, the token grew by more than 900%, reaching a market capitalization of $20 million in less than a day.
The sponge tokens have a trading volume of over $113 million and a market cap of around $31.5 million in 24 hours after just four days of launch on Uniswap. These are impressive numbers for a quietly launched meme coin and indicate great potential for future growth.
In addition, the undeniable hype around SPONGE tokens led to their listing on CoinMarketCap, which usually happens a few months after the initial DEX listing on other exchanges. As you can see, SPONGE tokens have been one of the fastest growing cryptocurrencies over the past week, and if things continue in the same direction, they could overtake Pepe Coin as the meme coin with the highest growth potential in 2023 and beyond.
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Huge growth potential for all early adopters
Meme coins are making a comeback as thousands of investors pour millions into the hottest projects in the industry. The rise in price is partly due to Elon Musk changing his Twitter logo to his favorite cryptocurrency meme: Dogecoin. His timing was perfect as the switch happened just as Pepe Coin and Turbo hit the markets. As a result, the price of PEPE tokens increased by 3000% in the last month, because the price of meme tokens is completely driven by the hype created by traders and project developers.
However, looking at historical data, sudden price increases are often followed by massive price drops due to unused tokens and other issues. This is why investors watch price movements in real-time, looking for the perfect time to buy or sell certain cryptocurrencies. $SPONGE is a great investment option since it was launched a few days ago, so there aren't many token holders. He's only four days old, so he still has a lot of room to grow in the next few weeks.
Given the current price dynamics and the huge interest in meme coins, Sponge tokens rose from $0.002394 to $0.00007262 just days after launch, which is a huge increase in value. The coin is currently trading at $0.001119 and may break the previous highs in the near future. So, SPONGE tokens have been one of the highest gainers in recent days and if this trend continues, all investors who bought the coin today can make more than 5000% profit!
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Why is the $Sponge symbol so popular?
In addition to his impressive growth potential, you may wonder what makes SpongeBob's trait so unique. First of all, it is based on a famous cartoon character known to billions of people around the world. In addition, the project aims to become a major meme generator, using anime scenes to create viral memes.
Second, the platform is based on industry best practices, including stable token supply, state-of-the-art security, and a growing community. Sponge TOKENS has no utility yet, but that will change soon.
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to the end
Sponge Tokens is one of the biggest cryptocurrency investments in the past week and is likely to overtake PEPE and TURBO by the end of the month. Investing today is the only way to make $SPONGE one of the best investment options in 2023 . For more information, visit the official Sponge.vip website and check the latest news on the official Sponge Telegram channel. The latest innovative project.