DEXTools' trending cryptocurrency $SPONGE has been listed on LBank

Three days after its first introduction on Uniswap, the SpongeBob cryptocurrency has hit a market cap of $40 million.SpongeBob also outpaced Pepe in terms of the time it took to get its first CEX listings. A flood of listing inquiries is reported to be pouring in for $SPONGE.

SpongeBob was named among the top ten meme currencies on CoinMarketCap yesterday, outperforming even Pepe in terms of percentage gains. The $SPONGE coin was created by LBank, a Hong Kong-based exchange with a 24-hour trading volume of more than $800 million.

SpongeBob Token may “Outperform” due to the popularity of the “Cartoon”

LBank has also introduced a deposit competition with a $5,000 prize pool. A SpongeBob meme contest is also taking place, with fifty $100 prizes up for grabs for the best SpongeBob memes.

Given its low market cap and the popularity of the cartoon franchise, analysts anticipate SpongeBob token will outperform. As the excitement began to spread throughout the world, $SPONGE was trading at No. 3 on Twitter in India. LBank's presence in China is also likely to encourage purchasing in the region.

SpongeBob is expanding quicker than Pepe, as evidenced by a variety of key measures, the most notable of which is the time it took to obtain its first CEX listing, as indicated above.

Pepe is now available on both Binance and Kucoin, as exchanges compete to offer coins at the centre of the latest meme mania.

More $SPONGE postings are expected in the coming days and hours, according to rumours. Assuming a similar trajectory to Pepe, $SPONGE is likely to begin appearing on top 10 exchanges such as Kucoin and Binance.

Those who missed out on Pepe, Wojak, Pooh, and Turbo appear to be buying $SPONGE, as indicated by this recent statement on the project's Discord server and it being one of the top 1-2 trending crypto assets on DEXTools.

Because of the flurry of activity surrounding the new breed of meme coins represented by Pepe and $SPONGE, the Ethereum network is becoming increasingly congested, driving up petrol fees.

The crypto socials are buzzing with talk about $SPONGE being the next Pepe coin. Pepe has gained 7,000%, while SpongeBob has gained up to 1,000% in its short life. 

Rising Interest in the SPONGE Coin

• Sponge crypto exchange listings have gained significant attention due to the rising interest in the coin and its substantial liquidity, prompting exchanges to fast-track its listing.

• CoinW (ranked 23rd) and Toobit (ranked 32nd) recently listed $SPONGE, providing relief to DEX buyers with limited resources who struggled with high gas fees reaching $155.

• Speculations suggest that the SpongeBob project might have involvement from the team behind Shiba Inu.

• The original meme coins, Dogecoin and Shiba Inu are experiencing stagnant trading volumes and declining prices as investors shift their focus to new offerings.

• SpongeBob has attracted buy orders exceeding $100,000 on a regular basis, with one notable whale investing $338,723 to capitalize on the $SPONGE bull run.

Facts that make Sponge more Desirable than Pepe

Pepe has a token supply of 42 trillion (420,690,000,000,000), but $SPONGE has a token supply of 40.4 billion (40,400,000,000). These tokenomics make $SPONGE a more desirable token to trade for many people.

Then there's the fact that $SPONGE is up nearly 100% in the last 24 hours to $0.0011, while Pepe is down 14%. The deadly metric, though, is liquidity. $SPONGE's market cap has since climbed to $40 million, but so has its liquidity, which is currently more than $11 million.

This indicates that buying $SPONGE is actually safer and more likely profitable than buying Pepe because Pepe's weaker liquidity and market depth make it more vulnerable to whales crashing the price. The $SPONGE liquidity is fixed at 99.54%.

The fact that the largest wallet is vested for two years adds to the frenzy of CEXs seeking listings and traders trying to buy the next great thing in meme currencies, creating even more motivation for exchanges and traders to enter the market. The top wallet controls 29% of the supply.

Captain Clutch, an expert trader and analyst, warned his followers that the unknown crew behind $SPONGE would begin massive marketing moves on Monday: