• SPONGE, the SpongeBob token, surged to 73x its launch price on Uniswap last week.
• It has a market capitalization of $14 million and a fully diluted market cap of roughly $25 million.
• According to a tweet, SPONGE is set to be listed on a top 10 exchange.
The Introduction of SPONGE
SPONGE is a meme-inspired cryptocurrency that draws inspiration from the beloved animated series, SpongeBob SquarePants. It has no affiliation with Nickelodeon and recently there has been an surge in the value of new wave meme coins such as pepe (PEPE) and floki (FLOKI).
The Value Surge of SPONGE
SPONGE reached a peak on May 7th before dropping 75% to $0.0024 but still stands 7x higher than its launch price. The spike in SpongeBob’s value over the last few days is driven by investors seeking exponential gains similar to dogecoin and shiba inu during the last cryptocurrency bull market. SPONGE currently has a market capitalization of $14 million at its current trading price of approximately $0.00062 with trading volume over the last 24 hours reaching around $105 million.
According to a tweet, SPONGE is set to be listed on a top 10 exchange which had been received with enthusiasm from the crypto community who were interested in investing in this meme token.
The potential gains for those who invest early into these meme coins can be huge due to their high volatility and low liquidity making them vulnerable to large swings in prices making it hard for small investors or traders to profit off their investments or trades respectively. This also means that investors take more risks when investing into these volatile coins as there are no guarantees that they will make big profits off them like some did after buying Bitcoin back in 2009/2010 when it was much cheaper than it is now.
Cryptocurrencies have become increasingly popular over recent years and have attracted many different types of investors ranging from novice traders all the way up to seasoned veterans looking for quick profits through speculation or long term investments depending on each individual’s goals. Meme coins are just another type of investment opportunity within this space which may provide huge returns if you’re able pick out the right ones at just the right time but also carries great risk due to their high volatility so caution should always be taken when investing into any asset class especially cryptocurrencies given their decentralized nature and lack of government regulation or oversight compared other asset classes such as stocks or commodities which are heavily regulated by governments around world resulting greater levels safety for investors participating within them .