As Shiba Inu (SHIB) consolidates close to its 21DMA at $0.000029 after having pulled back nearly 40% from last month’s highs, Shiba Inu investors redirecting funds to a fresh ICO called Sponge (SPONGE) as they target 1,000% upside.
Shiba Inu remains one of the leading crypto meme coins, second in market cap only to Dogecoin. But its monstrous market cap of last around $17 billion suggests the scope for further gains is somewhat limited.
Sure, Shiba Inu could still 5x or more this bull market. But many meme coin investors will be targeting higher upside, of 1,000%, or 20x or more.
Such investors should search for exciting new meme coins with much lower market caps, and a lot of viral potential.
A meme coin called Sponge ($SPONGE) fits this bill perfectly, after launching its V2 on Polygon earlier this year.
The original Sponge token nearly hit a market cap high of $100 million last year.
However, the token migrated to Polygon to make use of its lower fees and faster transactions a month ago. And the migration to Polygon has ignited a surge in the $SPONGE price.
$SPONGE hit a market cap of as much as $160 million in March. It’s since fallen back to a market cap of around $80 million, offering investors the chance to buy the dip.
$SPONGE – Fresh ICO Targeting 1000% Upside
Sponge isn’t just any old utility-lacking meme coin.
The exciting new meme coin 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 368%, as per the official Sponge website.
Milestone alert, #SPONGERS! 🔥
There are now over 9.5 billion $SPONGE tokens staked with a value of $20,333,984.53! 🤯
Our holders are enjoying an impressive current APY of +150%. 🚀
Join us and absorb the damp!! 🧽🧽💦#SpongeV2 #Crypto #Web3 #Alts pic.twitter.com/fIDwcuk26c
— $SPONGE (@spongeoneth) April 2, 2024
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.
Don’t forget, #SPONGERS! 🧽💦#SpongeV2 is bringing exciting utility through our upcoming #P2E game! 🔥
Get ready to earn $SPONGE tokens by playing the game and ranking on the leaderboard.
Stay tuned for more info! 🚀#MemeCoin #Crypto #Alts #100x pic.twitter.com/5aaLxGz8N1
— $SPONGE (@spongeoneth) March 22, 2024
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 exciting new 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.
