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 last around $2 billion, Bonk’s could yet post gains in the region of 10x this bull market.
That’s assuming it is able to catch up to the likes of Dogecoin and Shiba Inu, a tough ask.
But investors looking for larger gains would do better to look for smaller, lesser-known meme coins with much lower market caps, but with a lot of viral potential.
A meme coin called Sponge ($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.
But 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 5th 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 promising new ICO offers a compelling passive income opportunity and also functions as the native token of a play-to-earn (P2E) racing game.
Sponge buyers who stake their token can secure yields in the region of 650%, as per the official sponge website.
Meanwhile, the P2E game will see players competing with 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 it’s possible for an upstart meme coin to clinch a multi-billion-dollar market cap.
The meme coin’s website is teasing that it will soon be launching on bigger and better exchanges.
That could bring a wave of new buyers to $SPONGE.
At just $67 million, Sponge could get be looking at 1000% ROI in terms of price upside.
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