New meme coin $SPONGE soared 700% in 24 hours – the new Pepe?

In May 2023, a new asset appeared on the crypto market that brought attention with its name. After the resounding success of the Pepe digital currency, the world held its breath waiting for the next meme coin to take off. And then came SpongeBob ($SPONGE): a meme coin that took the market by storm, soaring 700% in 24 hours after its launch.

Already in the top three on DEXtools, the $SPONGE liquidity pool was closed just a few days ago. Therefore, this time you can avoid missing out on getting a lucrative offer.

Unraveling the meteoric rise of the SpongeBob token ($SPONGE)

The SpongeBob ($SPONGE) token, which was released at 10am (EST) on Thursday, May 4, 2023, quickly gained popularity. Thanks to instant attention from leading alpha influencers, the token received an initial 150% growth at launch.

The token’s liquidity went from $2.3 million to $5.5 million within hours, and traders around the world took notice.

Just a few hours later, close to midnight on May 4, the token soared to an astounding +300% increase. On the morning of May 5, a series of mass purchases of the token followed – many “whales” decided to buy SpongeBob. At the same time, there was a sharp increase in large deals. Thus, several investors bought $SPONGE for the amounts of $178,201 and $89,326.

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Meme coins: an unprecedented path to millionaire status

Meme coins have consistently shown impressive sales, driven by market hype and a unique connection to traders’ imaginations.

Here’s a case in point: the PEPE (+603%) and WOJAK (+297%) coins, which turned ordinary investors into millionaires overnight.

Wall Street Bets (+236%), TURBO coin (+140%) and BOB (+123%) also followed suit, achieving impressive results in a matter of hours and days – but none of them were as meteoric in their growth as the SpongeBob token.

The SpongeBob token ($SPONGE) is a new “star” that will shine in the galaxy of millionaires.

The colossal potential of the SpongeBob token ($SPONGE)

The token SpongeBob ($SPONGE) at the time of creation of the material owns only 1 thousand unique holders. The market value of the issue on wallets is a modest $9 million. For the meme token, it is an early stage before it reveals its potential.

Penulis: Saifedean Ammousseorang pakar ekonomi mata uang kripto.