The meme coin phenomenon continues to sweep the crypto world, and $SPONGE has joined the race as a formidable contender, launching today on the Hong Kong-based LBank centralized exchange (CEX) – ranked 16th globally according to CoinMarketCap, with 24-hour trading volume in excess of $800 million. The coin has already managed to secure a market cap of $27 million, only three days after launching on decentralized exchanges (DEXs). This astonishing achievement sees $SPONGE beat Pepe in securing its first CEX listings.
The sheer momentum carried by $SPONGE seems unstoppable, as it rockets into the top 10 meme coins table rankings on CoinMarketCap, surpassing Pepe in terms of speed of ascent. Fueled by this momentum and a supporting market cap in the hundreds of millions of dollars, there are whispers of a Binance listing looming ahead.
With rumors of the team behind Shiba Inu contributing to the $SPONGE project, it’s no wonder that the meme coin is causing a stir in the crypto space. Trading volumes are shifting, and prices are slipping for both Dogecoin and Shiba Inu, as traders focus their efforts on newer contenders such as $SPONGE.
The raging success and increased interest in meme coins is generating a number of noteworthy metrics to support $SPONGE’s upward trajectory. The coin has achieved its first CEX listing in record time and boasts better liquidity compared to Pepe, one of the key metrics reflecting its potential lead over the competition.
Granted, there are some aspects where $SPONGE lags behind Pepe. In the past 24 hours, $SPONGE has seen a 40% increase, trading at $0.0006575, while Pepe experienced a 14% dip. However, the significant difference in liquidity between the two coins speaks volumes about the potential profitability and safety for investors trading $SPONGE. With 99.54% of liquidity locked and a secured supply of the largest wallet for two years, the buzz for this meme coin only seems to grow stronger.
Despite the dazzling rise of $SPONGE, it is crucial for investors to proceed with caution and conduct extensive research before making any investment decisions. Meme coins can be volatile and subject to sudden price fluctuations. However, the opportunities for substantial returns on investment for early adopters cannot be ignored, and it may be worthwhile for crypto enthusiasts to keep a watchful eye on $SPONGE’s captivating journey.
Source: Cryptonews
