A brand-new meme token has swept the cryptocurrency market. Three-quarters of market participants bought into Spongebob crypto (SPONGE), which indicates significant upward momentum, as trade volume surged to $1 million in less than an hour.
What Is the New Meme Coin Sponge Crypto? – 2023
This meme token has been referred to as the “Krabby Patty of all meme coins,” per the Spongebob Twitter account. The token has been named after the well-known television program “Spongebob Squarepants,” as its name suggests.
Built on the Ethereum network, Spongebob ($SPONGE) is a decentralized meme coin. On May 4, 2023, the $SPONGE ERC-20 token—the network’s native cryptocurrency—was introduced on the Uniswap DEX.
About Spongebob Token Launch
The liquidity pool for SPONGE was established at 13:22 UTC on May 4 and now has $2.13 million in total liquidity. Coins are increasingly being listed directly on decentralized exchanges (DEXs) due to the simplicity with which they may currently be launched in the crypto sector. Crypto traders’ rejection of centralized exchanges in the wake of the FTX meltdown is one factor driving this tendency.
Turbo Toad Token (TURBO), which was developed in a week utilizing the OpenAI chatbot ChatGPT, was launched before Spongebob Token. Everything was created using AI, from the mascot to the smart contract, with little to no human input. With SPONGE being the most recent, other meme coins have been released as a result of TURBO’s success. In short, the fact that SPONGE was able to garner traction so quickly after launching is encouraging for the meme token.
Tokenomics
One of Uniswap’s most recent tokens, $SPONGE, is expected to cause a stir in the meme coin market. The $SPONGE token aims to build on and surpass the success of existing meme tokens, including DINO, TURBO, and WOJAK.
At the time of writing, the SPONGE token is trading at $0.0005139, according to CoinMarketCap. In the last 24 hours, the token price has increased by 608.06%.
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