SHIB and Bonk Maintain Meme Coin Market Dominance, but SPONGE V2 Threatens to Steal the Spotlight

Cryptocurrency markets are always on the move, and while many meme coins often fall short of everyone’s expectations, some surprise traders with massive gains in short periods. Shiba Inu has been a long-time favorite among investors, and even though it’s doing well in 2023, BONK managed to surpass it in terms of daily trading volume.

The meme coin mania is entering a new phase right around the new year, as numerous cryptos keep gaining momentum, outperforming established platforms. BONK and SHIB are rising, but their potential falls short compared to the latest meme coin on the block – SPONGE V2.

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Shiba Inu Retaining Much-Needed Support

Shiba Inu is in an interesting situation as 2023 comes to a close. The platform is known for an oversupply of SHIB tokens, but the recent development may finally help fix things for good. Namely, SHIB token burn rate has increased by a whopping 4,144%, which will burn through billions of tokens, reducing supplies and increasing value. The move helped SHIB reclaim the $0,00001 support level, and as the days go by, it will likely be able to hold on to it. 

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The Shibarium development team performed the burn on December 16, deleting 8.6 billion SHIB tokens forever. The value of the burn is just below $89,000, but the burning is still not over. The token burns are a direct result of a surge in the number of transactions on Shibarium, which dedicates 70% of its gas fees to the burning campaign. The network went up in August this year, and it had the first two burn events in December, as it could not reach the minimum threshold of $25,000 in fees to start burning tokens. 

However, that changed after November 30, when Shibarium’s transaction numbers spiked and kept growing. Moreover, the transaction surge increased gas fees, allowing Shiba Inu to reach and hold on to the $0,00001 price point, reaching a nine-month high. The daily trading volume has since decreased by 8%, but the sentiment is still bullish. 

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BONK Outperforming Meme Coin Markets

BONK has been the surprise no one thought was possible. The token spiked by 381% in daily trading volume, an awe-inspiring feat that pushed the platform to the 44th spot in market capitalization. BONK is getting a much broader acceptance in the crypto community, indicating that meme coins can outperform the top altcoins in the right conditions.

The platform has recently introduced the BONKBot, allowing users to make transactions much more accessible. The bot is fully integrated into the Telegram app, making trading cryptos easier and ensuring beginners can enter the markets more straightforward than ever before. Therefore, BONK has capitalized by making cryptocurrencies more accessible and user-friendly to a wider user base. BONK trading went live on December 16, signaling a new era for the coin, and the announcement of zero-free trading for BONK on Binance solidified its future growth.

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SPONGE V2 – The Next 100x Meme Coin 

While SHIB and BONK token holders have a lot to look forward to, there is another meme coin that will likely shake the markets, resulting in some of the highest gains since early 2023. $SPONGE has recently announced the release of a token version dubbed $SPONGE V2 that will give the token utility, allowing it to rise above hundreds of other memes without token utilization.

As you may know, $SPONGE was one of the biggest meme coins of 2023. It was just $1 million short of a $100 million market cap, but once the demand dropped, it stayed above $16 million, with over 11,500 holders and an active Telegram community. The devs behind the token realized the potential $SPONGE was showing throughout the year, so they developed a new token version that will give the platform much-needed utility, allowing it to keep growing in 2024 and beyond.

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Tokens Only Available Through Stake-to-Bridge Rewards

The release of $SPONGE V2 is different from most new token releases. Instead of a presale, the platform uses the Stake-to-Bridge reward mechanism that automatically gives out $SPONGE V2 to all holders who stake their original $SPONGE tokens. In other words, token holders will receive an equivalent of Sponge V2 to the amount of Sponge V1 tokens they stake. Moreover, they will keep receiving Sponge V2 tokens over the next four years. 

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$SPONGE V2 is an ERC-20 token built on the Ethereum Blockchain. All Sponge V1 staked tokens will stay permanently locked and no longer be supported once the newer version reaches major DEX listings. Therefore, if you missed your chance to get the 100x gains by being too late to the $SPONGE V1 launch, you can now get massive returns by staking the coins on time. 

Once the new version goes live, $SPONGE V2 tokens will become useful by becoming a payment option for the new Sponge-bob-inspired P2E game. Once the staking period is over, users can claim their Sponge V2 tokens on the official websites. All dates will be announced on social media channels. The minimum APY is 40%, making $SPONGE an excellent investment option that will likely outperform the remaining meme coin markets in the next few months.

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Wrapping Up

Meme coins are some of the best crypto investment options in 2023. The recent price gains of SHIB and BONK show that the crypto community is growing exponentially, and with more adoption, their prices will keep growing steadily.

While both BONK and SHIB are expected to keep growing, the new version of the $SPONGE token, dubbed Sponge V2, will likely explode after the first listing, potentially resulting in 100x gains for all holders. So, buy and stake your $SPONGE V1 ASAP to get your hands on $SPONGE V2 as early as possible. 

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