Bonk Meme Coin Community Shifts Focus to Promising New ICO, Eyeing 1000% Returns
With Solana’s biggest meme coin Bonk (BONK) having now pulled back more than 30% from the record highs it hit on Monday, Bonk meme coin community members are shifting their focus to a promising new ICO, where they are eyeing 1,000% returns.
With a market cap of around $2 billion, Bonk could still reach 10x gains in this bull market.
That’s assuming it can catch up to the likes of Dogecoin and Shiba Inu, a tough ask.
But investors looking for larger gains would do better to find smaller, lesser-known meme coins with much lower market caps, and a lot of viral potential.
A meme coin called Sponge ($SPONGE) fits this bill perfectly, after recently launching its V2 on Polygon.
📣 Attention, #SPONGERS!
Here is some important information to remember about $SPONGE V2!$SPONGE V1 has officially been discontinued, and V2 has been launched on #Polygon! 🔥
Learn more about the token details below 👇https://t.co/TCdxgXx40w
🧵1/3 pic.twitter.com/YZzXOlKmHY
— $SPONGE (@spongeoneth) February 6, 2024
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.
Last at $0.001811, $SPONGE is up over 200% since its February 5 Polygon launch.
Did you miss #SpongeV2 as well, anon? 🧽💦
Stake your $SPONGE today! 🚀#MemeCoin #Web3 #AltSeason #Crypto pic.twitter.com/1mkn5zjEvA
— $SPONGE (@spongeoneth) March 4, 2024
That gives the token an impressive market cap of just over $67 million, as per DEXTools.
$SPONGE – Promising New ICO Aiming for 1000% ROI
Sponge isn’t just any old utility-lacking meme coin.
The new ICO 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 650%, as per the official Sponge website.
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.
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 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.
