Shiba Inu Price and Top Meme Coins Pump, Sponge Up 26% With Staking Set to Launch in 6 Days
Thursday, October 26, 2023 – Meme coin $SPONGE’s price is up 26% in the past seven days to $0.000117 after announcing the introduction of staking, to take place on November 1st.
With only six days to go, the staking news is attracting buyers to the Sponge project, which was created as a homage to the SpongeBob cartoon character, although it has no affiliation with Nickelodeon.
There are no specific details as yet about the annual percentage yield or lock-up periods, however, $SPONGE staking provides all token holders with a way to earn a yield from their digital asset.
The timing of the introduction of the staking service couldn’t have been better as it coincides with an ‘everything’ rally in the meme coin sector, not to mention the broader crypto world.
The $SPONGE price has bounced hard off its all-time lows, which makes it a prime target for investors looking to dollar-cost averaging into the market.
$SPONGE should definitely be on the altcoin season target list for savvy investors doing some bottom-fishing, as that’s where the largest upside is likely to be – especially in the meme coins scene.
Meme coins continue to be one of the hottest sectors in the market and the green tide of recent days across top coins is a testament to that.
When we factor in the work that the team is now doing to stimulate positive price action, as witnessed in the staking news, and rumors of other plans in the offing, buying $SPONGE today is a smart move.
Shiba Inu and Dogecoin are both up 8% today while Pepe and Floki have put on more than 20%.
Pepe has almost doubled in value in the space of a week. Meanwhile, the second-most valuable meme coin Shiba Inu, with a market cap of $4.7 billion, has risen 18% over the same period to $0.000007991.
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