As its amazing run higher continues, dogwifhat (WIF) investors are shifting to a viral new ICO called Sponge (SPONGE) as they seek 1000% return on income (ROI) gains.
Dogwifhat pumped up over 26% on Friday as it hit fresh all-time highs above $2.30 per token.
But with a market cap of now more than $2.0 billion, some are concerning that the rally might be running out of steam.
Yes, maybe WIF can pump another 10x to catch up to Dogecoin’s market cap over $20 billion.
But in the meme coin world, traders tend to look down their noses at the prospect of 10x gains.
Meme coin traders often prefer targeting coins that offer potential gains in the region of 100x or more.
So dogwifhat investors are likely shifting to alternatives as they hunt ROI gains of 1000%or more.
One such coin they are likely taking a look at include a viral ICO called Sponge (SPONGE).
Dogwifhat Investors Shift to Viral ICO Sponge (SPONGE)
Legendary meme coin Sponge (SPONGE), which hit a market cap of $100 million back in 2023 to hand investors 100x gains at the time, is once again in the spotlight in wake of its migration to Polygon.
Last at $0.0036, $SPONGE is up over 400% since its February 5 Polygon launch.
That gives the token an impressive market cap of just under $150 million, as per DEXTools.
Sponge isn’t just any old utility-lacking meme coin.
The new ICO offers a passive income opportunity and also functions as the native token of a play-to-earn (P2E) racing game.
Sponge buyers who stake their tokens can secure yields of up to 650%, as per the official Sponge website.
Meanwhile, the P2E game will see players competing against each other for ranks on a global leaderboard. Racing rewards are paid out in SPONGE V2.
But perhaps the most exciting thing about Sponge is that it’s still super early to get into the coin.
Meme coins like Bonk, Dogwifhat, and Pepe have shown how an upstart meme coin can reach a multi-billion-dollar market cap.
The meme coin’s website is also teasing that it will soon launch on bigger and better exchanges, which could bring a wave of new buyers to $SPONGE.
At just $67 million, Sponge could be looking at 1000% ROI in terms of price upside.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
