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Sponge Token Volumes Surge +17% as Meme Coin Markets Position for Sponge Price Explosion Ahead of Staking Launch Tomorrow

Sam Cooling
Last updated: | 3 min read

Sponge token ($SPONGE) trading volume surges +17% ahead of November 1 staking launch, as $SPONGE outperforms $DOGE in October. Read here.

Tuesday, October 31, 2023 – Meme coins have shown strength this week in the midst of a surge in trading volumes, and early-2023 breakout Sponge token ($SPONGE) hasn’t been left behind as crypto market anticipation grows for the launch of $SPONGE staking on November 1.

Sponge token trading volume has risen 17.88% over the last 24 hours as eagle-eyed meme coin traders rush to take position ahead of the highly anticipated staking launch.

This comes as trading volumes across the meme coin charts gain 18.9% following an emergent altcoin season, triggered by Bitcoin’s recent price recovery.

Top meme coin Dogecoin ($DOGE) has seen a whopping 62% increase in trading volume over the past 24 hours, and this has been matched by HarryPotterObamaSonic10Inu ($BITCOIN) which has seen volume grow 28.8%.

The rapid increase in trading volumes signals a return to market interest in moonshot-worthy meme coins and low market cap $SPONGE is quickly becoming a traders’ favorite ahead of the coin’s staking launch tomorrow. This marks a major milestone in the Sponge project roadmap.

How Could $SPONGE Staking Launch Reinvigorate Price Action?

The launch of Sponge token staking holds all the promise of the $SPONGE community’s original rallying call to ‘absorb the damp’. 

The new staking mechanism is expected to reinvigorate Sponge token price action in a double-bubble play that will incentivize long-term holding with lucrative staking rewards, and entice new market entrants to capitalize on a strong entry point in the charts.

Indeed, $SPONGE has seen technical structure strengthening over the last month, bolstered by renewed interest in meme coins from investors hunting big gains.

The below chart demonstrates how $SPONGE (in blue) has recovered alongside a broader ‘everything’ rally in the meme coin vertical, even outperforming top coin $DOGE (in orange) due to Sponge token’s superior low market capitalization.

Uptober’s market-wide comeback has left $SPONGE token in consolidation at a higher support level above $0.00010, with the nostalgic meme coin set to end October in the green.

This leaves $SPONGE token poised for potentially dramatic growth ahead of the launch of staking tomorrow.

Currently, Sponge token can be seen as undervalued, with an alluringly low market cap of just $2.72m despite a steadfast 11.39k holders and more than $3.4m liquidity locked.

Diligent investors will note that the majority of meme coins that can boast such impressive liquidity and dedicated holders sit at 8-figure market caps. 

This suggests that it would take only a moderate inflow, or a handful of whale trades, for $SPONGE to easily make a 4x move from here.

Don’t Miss Out Sponge Staking Goes Live at 10AM UTC on November 1

The launch of $SPONGE staking has been patiently awaited by bag-holders, and marks real progress along Sponge token’s project roadmap.

Expected to go live at 10AM UTC on November 1, $SPONGE staking will offer an attractive APY incentive – especially considering the low price point for new entrants, potential value accrual and variable staking rewards.

Furthermore, the staking launch has been timed to coincide with the end of the Season 1 Sponge Airdrop (now closed), with airdrop winners being selected tomorrow in conjunction with the staking launch. 

Airdrop rewards (speculated to be as much as 10% of $SPONGE supply) will be distributed one week after the winners are revealed.

In the midst of the pre-staking hype, unverified rumors are now abounding in the Sponge Discord suggesting that a novel burn mechanism and major partnerships could be in the works.

With that said, it’s not too late to absorb the damp and join the $SPONGE rocket ahead of the product launch. The token is currently listed on, MEXC, Bitget, Poloniex, BTCEX, and CoinW – ensuring easy access to coy investors.

As a potential rally back to an all-time high price of $0.0023 appears on the cards during an expected crypto bull cycle, don’t miss out on this high-growth prospect meme coin.

Buy $SPONGE Here