Dogecoin, Bonk Prices Slide But Sponge Token Pumps 130% in a Week

It has been a poor begin to the week for meme coin buyers, with most tokens posting losses.

Dogecoin (DOGE) and Bonk (BONK) are each down over 3% previously 24 hours, whereas fellow meme cash Shiba Inu (SHIB) and Pepe (PEPE) are additionally within the crimson.

Nonetheless, not all meme cash are experiencing a selloff – with Sponge (SPONGE) token being one of many few that has managed to buck the development.

Dogecoin Worth Sinks as Promoting Strain Ramps Up

The value of DOGE has slumped virtually 4% since yesterday, with the world’s largest meme coin now hovering across the $0.077 stage.

DOGE is down 13% since final week, falling to a market cap of simply over $11 billion.

Buyers have been regularly promoting off since mid-December, proper after DOGE posted an intra-year excessive of $0.107.

DOGE has closed within the crimson in 5 of the previous six days, indicating that the bearish momentum is rising.

From a technical perspective, the meme coin now seems to be heading in the direction of the assist zone round $0.071, which was final examined in late November.

Ought to DOGE return to this zone, it will symbolize an extra 8% drop from in the present day’s value.

Notably, daily DOGE trading volume has truly elevated previously 24 hours, rising 68% to $564 million.

This uptick in buying and selling quantity means that extra merchants are getting into the market and promoting off their DOGE holdings every day – intensifying the coin’s decline.

Bonk Continues Falling as Merchants Take Revenue Off the Desk

Alongside Dogecoin, Solana-based token Bonk (BONK) has additionally begun the week within the crimson, sinking virtually 8% previously day.

On the time of writing, BONK is trading for $0.000010, which represents the token’s lowest worth since December 13.

BONK has now posted three bearish weekly closes in a row, marking its poorest run of kind since September.

Like Dogecoin, BONK’s selloff doesn’t look like pushed by any basic or news-based components.

As an alternative, merchants appear to be taking earnings after the token’s latest rise, which noticed it surge over 14,000% between October and December.

With sentiment within the broader market turning barely bearish, overheated meme cash like BONK are the primary belongings that buyers are promoting.

Hype Round Sponge V2 Builds as Authentic SPONGE Token Soars 152%

Nonetheless, not all meme cash are experiencing a bearish wave – Ethereum-based Sponge V2 (SPONGEV2) is constant to develop and entice funding.

Sponge V2 is a soon-to-be-released improve to the unique Sponge (SPONGE) meme coin, which launched in Might 2023 and produced huge features for early buyers.

At its peak, SPONGE hit a market cap of $100 million and attracted tens of millions of {dollars} in day by day buying and selling quantity.

Now, the builders search so as to add extra utility by launching SPONGEV2 by a novel “Stake-to-Bridge” setup.

This setup lets SPONGE holders lock up their tokens completely and obtain SPONGEV2 as yield.

On the time of writing, the offered yield is 381% per year – far increased than most staking protocols.

Those that don’t already personal SPONGE should buy tokens immediately by the purchase widget on the official sponge.vip web site, then stake them routinely to start incomes SPONGEV2.

As outlined within the project’s whitepaper, one of many key options of SPONGEV2 is its gaming integration.

Sponge’s builders are within the course of of making a play-to-earn racing sport, with SPONGEV2 performing as its native token.

Players can earn extra SPONGEV2 by taking part in races and rating on the month-to-month leaderboard, creating a transparent use case for the token.

The thrill round SPONGEV2’s launch has led to a large value pump for the unique SPONGE token.

SPONGE is now trading for $0.00099, a whopping 152% improve previously week alone.

Given the success of the unique SPONGE token, many early backers consider SPONGEV2 could possibly be subsequent to surge as soon as listed on exchanges – priming it for an thrilling yr forward.

Visit Sponge V2 Website

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