{"id":5706,"date":"2023-05-08T09:19:03","date_gmt":"2023-05-08T13:19:03","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/sponge-price-bounces-after-meme-token-market-crash-more-exchange-listings-announced\/"},"modified":"2023-05-08T09:19:04","modified_gmt":"2023-05-08T13:19:04","slug":"sponge-price-bounces-after-meme-token-market-crash-more-exchange-listings-announced","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=5706","title":{"rendered":"$SPONGE Price Bounces After Meme Token Market Crash, More Exchange Listings Announced"},"content":{"rendered":"
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Top trending meme coin $SPONGE<\/u> is bouncing back strongly after the wider crypto crash sent meme coins lower.<\/p>\n

Helping $SPONGE today is the news of its launch on the Poloniex centralized exchange (CEX) at 11:00 UTC.<\/p>\n

The Poloniex listing<\/u> means $SPONGE can now be traded on four CEXs. Yesterday $SPONGE listed on LBank<\/u> and the day before that on CoinW<\/u> and Toobit<\/u><\/a>.<\/p>\n

There are very likely to be more listings for $SPONGE coming soon, possibly before the US session gets into gear.<\/p>\n

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$SPONGE price bounces at $0.001<\/h2>\n

As crypto prices retrace lower after a crash triggered by bitcoin withdrawal pauses at top exchange Binance, $SPONGE traders are now back in buying mode.\u00a0<\/p>\n

$SPONGE token<\/u> has in a matter of days earned its place at the head of a new wave of meme coins, as interest explodes around tokens such as Pepe and $SPONGE.<\/p>\n

$SPONGE is only just getting started and the current market set up provides a huge opportunity to profitably buy the dip.\u00a0<\/p>\n

Savvy investors will be well aware that retracements present opportunities and are a good sign of markets developing in a healthy direction with sustainable price formation.<\/p>\n

The current price of $0.001338 is indicative of this phenomena, as it bounces hard off its near-term bottom at $0.000.8541.\u00a0<\/p>\n

CoinMarketCap data shows $SPONGE is up 90% on a 24-hour view, although it is off its all-time high printed yesterday at $0.002402. By contrast, Pepe coin is down 15% in the past 24 hours. $SPONGE now has a market cap of approximately $50 million.<\/p>\n

$SPONGE has the fourth-best performing price of all meme coins on a 24-hour basis, at the time of writing.<\/p>\n

The Pepe-beating coin on a 7-day return view is up 1,561%, and by a higher percentage prior to CoinMarketCap tracking having began. Some early holders<\/u> turned a $50k investment into over $1 million.<\/p>\n

$SPONGE token hottest pair on Uniswap<\/h2>\n

The astonishing success of $SPONGE token<\/u> has left even the performance of Pepe in the shade. While Pepe took three weeks to launch on its first centralized exchange (CEXs), $SPONGE achieved that feat in two days.\u00a0<\/p>\n

On Sunday $SPONGE came within touching distance of breaking above a $100 million market capitalization.\u00a0<\/p>\n

A retest at those levels is looming, as current prices provide an extremely attractive entry level for new buyers and those looking to average down previously established entry costs.<\/p>\n

CEXs are queuing up to bring $SPONGE liquidity onto their platforms. They have no doubt collectively taken note of the booming trading volume on the Uniswap V3 decentralized exchange.\u00a0<\/p>\n

Excluding wrapped coins Pepe is in second place with $83 million, four-day old coin $SPONGE is in top spot, having built up trading volumes of $103 million, as at 09:10 UTC.<\/p>\n

In an astounding achievement, $SPONGE now commands an eighth of the total liquidity on crypto\u2019s largest decentralized exchange.<\/p>\n

Another feather in $SPONGE\u2019s cap is the fact that liquidity locked on Uniswap is twice as high for $SPONGE as it is for Pepe which has a market cap roughly 20 times greater.<\/p>\n

$SPONGE\u2019s locked liquidity is $10.8 million versus $11.9 million for Pepe.<\/p>\n

$SPONGE trends on social media\u00a0<\/h2>\n

Underpinning the swelling trading volumes and bullish price action, the $SPONGE<\/u> community is growing fast.\u00a0<\/p>\n

Not even a full four days old and $SPONGE has more than 8,500 holders and a super active Telegram<\/u> group numbering 17,000.\u00a0<\/p>\n

There are also now in excess of 27,000 followers of the project on Twitter. Among that number is crypto influencer Matt Wallace<\/u><\/a> with nearly a million followers and a big buddy of Elon Musk.<\/p>\n

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$SPONGE continues to trend at no.1 on top DEX app Dextools<\/u>.<\/p>\n

Rumors that the people behind $SPONGE have some connection with the Shiba Inu team is adding to the FOMO.<\/p>\n

Also encouraging community and token holder onboarding is the fact that the largest wallet is vested for two years. The No.1 wallet holds 29% of supply.<\/p>\n

Perhaps even more significantly today China\u2019s top crypto news site, BlockBeats<\/u>, mentioned $SPONGE.<\/p>\n

Visit $SPONGE Website<\/strong><\/p>\n<\/p><\/div>\n