This has given traders an extra barrier with which to meet demand from purchasers. Pepe coin seems to be going through a phase of recovery recently, as seen by the fact that its price showed a major fall of the $0.00000170 supports on the within-day level. Throughout the course of the preceding week, cryptocurrency investors made an increased profit from meme coin.Īs a result, the market price for the meme coin dropped from its all-time high of $1.65 billion to less than $500 million in just a few days. It might seem that the enthusiasm behind the Pepe meme coin is about to fade off, as the token is currently trading more than 70 percent below its all-time high. Despite the fact that the coin’s price is still significantly higher than where it started off, it’s obvious that this is due to supply and demand. After the first “pump and dump,” it’s probably likely that the token will lead to large gains in the near future. The significant price gain led to a lot of excitement among traders. Investors who had been successful in planning their purchases so that they bought cheap and traded high made returns that were more than 10 times their initial investment. Pepe coin has made an impressive rise into the top 50 most exchanged cryptocurrencies since it was introduced to the public in April 2023. See our guide on how to buy SPONGE token here. And in the event that it reaches $1 billion, they stand to make returns of more than 50 times their initial investment. On the other hand, investors in $SPONGE have the opportunity to earn returns of 10X their initial investment if the token surpasses the $200 million threshold. New investors in Pepe should anticipate a return of less than half their initial investment if the token’s market value exceeds $1 billion once more. In addition, there is further room for development. On the other side, $SPONGE has a total market cap of $18.53 million, which is significantly smaller than other companies. SpongeBob Token still has some steam left in it, in contrast to Pepe, which has already reached its limit of potential. Meme coins like Pepe and SpongeBob Token are at the leading edge of the growing trend of using memes as inspiration for new digital currencies. ? More CEX listings coming your way ✅ #Memecoin #Memecoins $PEPE $TURBO $MONG $HER $JEFF $RIBBIT $POOH $BOB /zDGNB7ZJOt After a brief pullback, there has been an increase in demand for SpongeBob Token, which is one of the biggest driving forces behind the meme currency frenzy that is still going fast. This week, SPONGE shattered records when it jumped from having a market cap of $2 million to $90 million in just four days. Recently, the project announced that SPONGE was going to be listed on numerous tier-1 exchanges. This meme coin sensation’s most recent release reveals that beginning on May 12, 2023, the SpongeBob Token will be accessible for purchase on top centralized marketplaces such as Bitget and Gate.io. In the official description of the SpongeBob coin, it is stated that it is a decentralized meme token that was constructed on the Ethereum network. It’s possible that many people would say it was a meme show before the general public had any idea what a meme was.
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