In a sensational overnight skyrocket, ZKsync-based ZKGROK token ($ZKGROK) has exploded 130x, but as early backers take profit could this new SPONGEV2 meme coin be next?
Indeed, ZKGROK’s huge pump over the past 24-hours has seen the unlikely token explode into prominence on DEX markets, with the new token now sat at #3 on DEXtool’s hot pairs.
Steady Pumps this month𝙂𝙍𝙀𝙀𝙉𝘾𝙀𝙈𝘽𝙀𝙍#AI narrative based Token have been running w!ld. As usual i found you guys another @zkgrok ( $ZKGROK) by @memecoin_labs
-Their previous project made me solid $
– it’s a memetoken based on the 𝙂𝙍𝙊𝙆 𝙗𝙮 𝙀𝙇𝙊𝙉 hype.
-The… pic.twitter.com/zQwfRLcqGc
— Wale (@TweetByWale) December 19, 2023
ZKGROK’s success appears to have been fuelled by the promise of a second-wind for November’s breakout GROK token, replicated on the low-cost ZKsync blockchain.
ZKGROK Price Analysis: Can ZKGROK Sustain Sensational 130X Price Explosion?
As ZKGROK token consolidates new-found gains, ZKGROK is currently trading at a market price of $0.0000891 (representing a 24-hour change of +6.78%).
This comes after ZKGROK undertook a mesmerising launch, gaining instant traction that saw price erupt +3,797% in the first two hours.
In the day since, ZKGROK price has continued to steadily climb – with price moving an additional +10% in a gradual and well-defended continuation of the rally.
However, questions are emerging over whether ZKGROK is now over-extended.
Indeed, the skyrocket overnight move has left ZKGROK with an incredibly high market cap for a new coin at $8.91m.
Similar pumps generally stall around $5m market caps, and this suggests that there could be only very limited growth potential left remaining in the chart.
Yet, with 85% of transactions still representing purchase swaps, buy pressure clearly remains strong.
A critical issue is also emerging around ZKGROK’s liquidity pool, which stands alluringly high at $442k, yet, remains unlocked – exposing traders to undue risk.
Overall, ZKGROK appears to be in the top-phase of its rally cycle, with a retracement move seemingly more likely than further upside.
With that said, a new second-incarnation meme coin is sending waves through markets this morning, that could offer better returns.
Sponge V2 Launch ($SPONGEV2): A New Era in Meme Coin Evolution
Sponge V2, the latest iteration of the renowned Sponge ($SPONGE) meme coin, is making waves in the cryptocurrency market.
Following the phenomenal success of Sponge V1, which peaked at nearly $100 million in market cap and amassed over 13,000 holders, Sponge V2 arrives with promising innovations and opportunities for investors.
How to Acquire Sponge V2
Acquiring Sponge V2 is unique:
Stake Sponge V1: Buy and stake V1 tokens via Sponge.vip or stake your existing V1 tokens.
Earn More V2: The longer and more V1 tokens you stake, the more V2 tokens you earn.
Staking Mechanics and P2E Integration
Sponge V2 introduces Play-to-Earn (P2E) utility, enhancing its ecosystem.
Stake your V1 tokens to earn V2, and engage in the upcoming P2E game to earn additional $SPONGEV2 tokens.
This P2E game, a new utility in the Sponge ecosystem, will feature both free and paid versions for enhanced gaming and earning experiences.
Unique Aspects of Sponge V2
Exclusive Access: Earn $SPONGEV2 exclusively through $SPONGE staking.
Bonus Rewards: Buying and staking $SPONGE offers special $SPONGEV2 bonuses.
Passive Earnings: Staked $SPONGE tokens yield passive rewards, starting at a minimum 40% APY.
Permanent Transition: Staked V1 tokens will be permanently locked, focusing on V2 post-launch.
Roadmap and Future Prospects
Sponge V2’s roadmap is ambitious, targeting 10,000 holders, Tier 1 CEX listings, and a $100M market cap.
The launch stages include the Sponge game’s development and the Sponge V2 claim and listing.
Sponge V2 is not just a sequel to its predecessor; it’s a reinvention with a focus on utility and community engagement.
The integration of P2E and exclusive staking mechanisms make it a standout project in the meme coin domain.
Stay updated on Sponge V2’s journey through social channels and witness its growth in the crypto world.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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