As Dogecoin (DOGE) consolidates near its 21DMA at $0.18 after falling more than 20% from last month's highs, investors are diverting their attention to Sponge (SPONGE), an exciting new meme coin that promises 1,000% profits.
However, with its enormous market valuation of $25.58 billion as of right now, it appears that there isn't much room for more growth.
Dogecoin may definitely 5x during this bull market. However, a lot of meme coin investors will be aiming for gains of at least 20 times, or 1,000%.
These investors have to look for trending new meme currencies with substantial viral potential and substantially smaller market values.
This is a wonderful fit for the joke coin Sponge ($SPONGE), which debuted its V2 on Polygon earlier this year.
A market value high of about $100 million was almost reached by the original Sponge coin last year. But a month ago, the coin moved to Polygon to take advantage of its cheaper costs and quicker transactions.
Additionally, the move to Polygon has caused the price of $SPONGE to soar. In March, $SPONGE's market capitalization reached a peak of $160 million. Since then, its market value has dropped back to about $80 million, giving investors the opportunity to profit from the decline.
New Meme Coin $SPONGE Aims for 1000% ROI
Sponge isn't your typical useless meme coin.
In addition to serving as the native token of a play-to-earn (P2E) racing game, the fascinating new meme coin offers a passive income possibility.
In the meantime, players in the P2E game will be vying with one another for positions on an international leaderboard. Rewards for racing are given out in SPONGE V2.
The fact that it's still very early to invest in Sponge is possibly its most fascinating feature. Meme coins such as Dogwifhat, Pepe, and Bonk have demonstrated how a new meme coin can rise to a market capitalization of billions of dollars.
The intriguing new meme coin's website also teases that it will soon be available on larger and better exchanges, perhaps bringing a slew of new customers to $SPONGE.
Sponge might see a 1000% ROI in terms of price increase at a cost of only $67,000,000.
April 2024, Cryptoniteuae