As DEX-launched tokens continue to mount seismic rallies, CHEEBS and AVAXINU have mounted the latest 150x rallies overnight, and now traders are gravitating to this latest meme coin as the next potential skyrocket.
This comes as recent months have seen a huge trend in explosive DEX-traded token moves, with countless moon-shots garnering significant attention, including the ever-popular APX, SAMBO Bot, BabyGROK, TIME, ZKGROK and IO.
CHEEBS Price Analysis: Could CHEEBS Crypto Be Poised For Second Rally Leg?
Solana-based CHEEBS token is currently trading at a market price of $0.000215 (representing a 24-hour change of +675%).
This comes following a seismic launch from lower support at $0.00003 (around 1PM UCT Yesterday), in an aggressive 5-hour rally move that saw price climb a whopping 1,500%.
Price was stalled by an all-time high at $0.00041, which triggered a -60% retracement that saw price latter catch support around $0.000091.
A well-defended consolidation move here has set the stage for an emerging second bounce, as price action forms a bullish pan and handle pattern that teases the prospect of a second rally leg.
Indeed, with a rock-bottom market cap of just $200k, amid $1.05m in 24-hour trading volume, CHEEBS token could undertake as much as a 25x return from here to hit a $5m market cap.
And with buy pressure continuing to dominate trading over the past hour, with 64% of ongoing transactions representing buys – a second-upside move seems to be a very real prospect.
AVAXINU Price Analysis: Has Latest AVAX Meme Coin Flopped For Good?
In other news, AVAX-based memecoin AVAXINU is currently trading at a market price of $0.00000000029 (representing a 24-hour change of +104%).
A far cry from the sustained performance of CHEEBS token, AVAXINU has experienced extreme volatility over the past 24-hours, with a major +1,500% move across 5-hours triggering at 19:00 UCT.
This saw AVAXINU price hammer-up to an all-time high at $0.0000000005615, however, a tough layer of resistance here pushed a major retracement that has since seen AVAXINU retreat almost 90% in a quick sell-off by early backers.
Evidence of this can be seen in the flip to sell-pressure, with sells representing 87% of transactions over the past hour in a sign of fleeting support from traders.
This could spell disaster for the future of the AVAXINU project, with the remaining 162 holders fighting to defend a higher support level at $0.00000000073.
Yet, with a now miniscule market cap of just $19,300, there could be an opportunity here for big whales to make major waves – indeed, a simple push to a 500k market cap from here would represent a whopping 25x gain.
However, on the precipice of going to zero, this seems an unlikely occurrence, and therefore AVAXINU represents an insanely high risk to an entry here.
But while AVAXINU offers little opportunity, fleeting traders appear to be rushing towards a new meme coin presale that could offer more lucrative returns by building on the supercharged success of well-known meme coin Sponge.
Sponge V2 Launch ($SPONGEV2): A New Era in Meme Coin Evolution – Poised To Outperform AVAXINU?
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.
Read more: Best Crypto to Invest In 2024
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 Over AVAXINU
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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