{"id":7662,"date":"2023-10-31T16:51:41","date_gmt":"2023-10-31T16:51:41","guid":{"rendered":"https:\/\/infundpros.com\/markets\/crypto\/sponge-token-volumes-surge-17-as-meme-coin-markets-position-for-sponge-price-explosion-ahead-of-staking-launch-tomorrow\/"},"modified":"2023-10-31T16:51:42","modified_gmt":"2023-10-31T16:51:42","slug":"sponge-token-volumes-surge-17-as-meme-coin-markets-position-for-sponge-price-explosion-ahead-of-staking-launch-tomorrow","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=7662","title":{"rendered":"Sponge Token Volumes Surge +17% as Meme Coin Markets Position for Sponge Price Explosion Ahead of Staking Launch Tomorrow"},"content":{"rendered":"
\n

\u2013 Meme coins have shown strength this week in the midst of a surge in trading volumes, and early-2023 breakout Sponge token ($SPONGE) hasn\u2019t been left behind as crypto market anticipation grows for the launch of $SPONGE staking on November 1.<\/p>\n

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.<\/p>\n

This comes as trading volumes across the meme coin charts gain 18.9% following an emergent altcoin season, triggered by Bitcoin\u2019s recent price recovery.<\/p>\n<\/p>\n

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%.<\/p>\n

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\u2019 favorite ahead of the coin\u2019s staking launch tomorrow. This marks a major milestone in the Sponge project roadmap.\n<\/p>\n

How Could $SPONGE Staking Launch Reinvigorate Price Action?<\/b><\/h2>\n

\nThe launch of Sponge token staking holds all the promise of the $SPONGE community\u2019s original rallying call to \u2018absorb the damp\u2019.\u00a0<\/p>\n

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.<\/p>\n

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

The below chart demonstrates how $SPONGE (in blue) has recovered alongside a broader \u2018everything\u2019 rally in the meme coin vertical, even outperforming top coin $DOGE (in orange) due to Sponge token\u2019s superior low market capitalization.<\/p>\n<\/p>\n

Uptober\u2019s 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.<\/p>\n

This leaves $SPONGE token poised for potentially dramatic growth ahead of the launch of staking tomorrow.<\/p>\n

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.<\/p>\n

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.\u00a0<\/p>\n

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.\n<\/p>\n

Don\u2019t Miss Out Sponge Staking Goes Live at 10AM UTC on November 1<\/b><\/h2>\n<\/p>\n

The launch of $SPONGE staking has been patiently awaited by bag-holders, and marks real progress along Sponge token\u2019s project roadmap.<\/p>\n

Expected to go live at 10AM UTC on November 1, $SPONGE staking will offer an attractive APY incentive \u2013 especially considering the low price point for new entrants, potential value accrual and variable staking rewards.<\/p>\n

\n

\ud83c\udf1f $SPONGE<\/a> Staking goes LIVE tomorrow at 10am UTC! \ud83d\ude80<\/p>\n

Get ready to surf on the waves of passive rewards \ud83c\udf0a\ud83d\udcb0<\/p>\n

Join our community to stay updated!#SPONGE<\/a> #Crypto<\/a> #Web3<\/a> #Trading<\/a> pic.twitter.com\/QeY5onmxeO<\/a><\/p>\n

\u2014 $SPONGE (@spongeoneth) October 31, 2023<\/a><\/p>\n<\/blockquote>\n

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<\/a> in conjunction with the staking launch.\u00a0<\/p>\n

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

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.<\/p>\n

With that said, it\u2019s not too late to absorb the damp and join the $SPONGE rocket ahead of the product launch. The token is currently listed on Gate.io, MEXC, Bitget, Poloniex, BTCEX, and CoinW \u2013 ensuring easy access to coy investors.<\/p>\n

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\u2019t miss out on this high-growth prospect meme coin.<\/p>\n

Buy<\/b> $SPONGE<\/b> Here<\/b><\/p>\n

\n
\n

\n
\n Enter your email for our Free Daily Newsletter <\/em>\n <\/p>\n

A quick 3min read about today’s crypto news!<\/p>\n

<\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n