Spongebob is a very popular meme coin. Memecoins have started with Dogecoins but now have several alternatives. These coins do not offer real-world use cases but they are regarded as profitable investments in cryptocurrencies for a short time. Spongebob token is easily recognizable as it closely resembles a famous cartoon figure. $SPONGE prices have surged since their debut.
There are many reasons for the recent increase in its price. The responsible reasons include remarkable stats like being featured on Coin Market Cap. The coin supports multiple wallets like MetaMask, Uniswap, Coinbase, and Wallet Connect.
It highlighted itself as a good opportunity for investors by attracting international attention. Even though it is new but is quite popular. This meme coin has an impressive community with a following of 8000 token holders and 17,000 followers on Telegram groups with 27,000 on Twitter accounts.
About Spongebob Memecoin
Spongebob Meme coin has drawn its inspiration from the very famous and popular animated cartoon series Spongebob Squarepants. This cartoon, in the initial 20 years of its broadcast has generated $19 Billion in merchandising revenue.
The token, inspired by this popular show, is built on the Ethereum network. It is inspired by the animated series in which the Spongebob characters show the act of kindness just to be someone’s hero. No matter how this yellow friend feels on a given day SpongeBob does not discriminate against who should be treated with kindness and respect. He wants to be a change in the world and inspires his friends to do the same.
When the inspiration of the meme coin is better, it automatically becomes capable of attracting attention from all. It has a community-driven approach. To know more about the coin’s progress one has to follow the social media platforms of the token. Which talks about the latest news and releases of the meme coin. Although meme coin is gaining a lot of traction due to its popularity, the full knowledge and understanding of the volatile nature of the coin is a must.
How to Buy $SPONGE Token
Installing a Sponge token is very easy. It involves the following step
Step 1: For this, first install a web3 wallet like MetaMask. Be sure that it contains ETH to buy the Sponge token alongside any fees.
Step 2: Enter the Spongebob website, look for the Uniswap widget on the site, and connect it to the wallet.
Step 3: Then select the wallet to swap with ETH.
Step 4: Enter and confirm the desired amounts.
Why Invest in Sponge
Memecoins are very volatile in nature. It is commonly influenced not only by market trends but also by influential personalities’ comments regarding it. Most of the meme coins have experienced a stellar performance over the last few weeks.
The Sponge is a clear and direct competitor of top meme coins in the market at present. The growing stats and several coins are attracting people to buy them. The coin has a very active community that increases the trust among people resulting in good investment.
Its listing on Uniswap from day one without any presale or any social media marketing has increased the trust in the industry. It was launched on May 4, with the price of $0.000073 only 24 hours later the token was sold at the price of $0.000616 by the end of May 5.
The earliest investor gained more than 540% in less than 24 hours. And if they kept it by May 7, they could have sold them for $0.002394. This makes Sponge Token one of the best investment options.
The Coinmarketcap data shows that it has a market cap of $2.87 Million and the 24 hours of volume is $514, 755.46. It has a total supply of 40.4 Billion sponges. The fully diluted market cap is 44.74 Million. The SpongeBob token has shown growth both in value and popularity. But it is always seen that the profitability investment of any meme coin is for a short time.
The astonishing success of the $SPONGE token has left other memecoin in the shade. PEPE took three weeks to launch on the first centralized exchange (CEX) but Sponge delivered it in two days. The CEXs are lined up to bring sponge liquidity to their platforms. They are confident about the growing trading volume, seeing it on the Uniswap decentralized wallet.
The Sponge community is also growing at a faster pace. Super influences like Matt Wallace with nearly a million followers and a big buddy of Elon Musk are also following the X (formally Twitter) account of the token.
$SPONGE also continues to trade as number one at the DEX site Dextools. There is some rumor that the team behind Sponge has some connection with the team of Shiba Inu. This is adding to the FOMO.
The largest wallet of Sponge is vested for two years and the number one wallet holds 29% of the supply.
Conclusion
Meme Coins are inspired by famous jokes or characters online. Spongebob token has recently shown an exponential surge in its price. It is using Ethereum’s decentralized framework. This trending meme coin is extremely popular. Most of the investors are looking to invest in meme coins at the beginning of the growth period. But, it is a volatile asset and requires research and expert guidance before investing
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/11/12/spongebob-tokens-know-the-trending-meme-coin-on-ethereum/