After its pump to $2.7 billion, Floki Inu is no longer amongst the potential 100x ROI tokens. / Source: TradingView
As the Floki Inu (FLOKI) price consolidates below $0.0003, having pumped up nearly 8x in two weeks, profit-taking holders are migrating to a new crypto ICO called Sponge (SPONGE) as they hunt for 100x return on investment (ROI) tokens.
As per CoinMarketCap, FLOKI’s price has risen around 25% in 24 hours, and its market cap was last $2.7 billion.
That’s a market cap of nearly 10x below Dogecoin’s, suggesting there is still plenty of room for growth.
But meme coins, even well-established ones like Floki, remain very high-risk investments.
Generally, to compensate for the high levels of risk involved, meme coin investors like to have big upside potential.
Its already bloated market cap suggests that Floki is unlikely to deliver much more than 10x gains.
It’s thus unsurprising that holders are migrating to new crypto ICOs as they hunt for 100x ROI tokens.
One category of crypto that could potentially be 100x ROI tokens are up-and-coming meme coin projects like Sponge (SPONGE).
Sponge (SPONGE) – Best of the 100x ROI Potential Tokens?
The legendary Sponge (SPONGE) meme coin has been making a big comeback in 2024 after recently migrating to Polygon.
The original Sponge token nearly hit a market cap high of $100 million last year.
However, the token migrated to Polygon to make use of its lower fees and faster transactions a month ago.
And the migration to Polygon has ignited a surge in the $SPONGE price.
Last at $0.0032, $SPONGE is up over 400% since its February 5 Polygon launch.
That gives the token an impressive market cap of just over $129 million, as per DEXTools.
And Sponge could go a lot higher, give it isn’t just any old utility-lacking meme coin.
The new ICO offers a passive income opportunity and also functions as the native token of a play-to-earn (P2E) racing game.
Sponge buyers who stake their tokens can secure yields of up to 650%, as per the official Sponge website.
Meanwhile, the P2E game will see players competing against each other for ranks on a global leaderboard. Racing rewards are paid out in SPONGE V2.
But perhaps the most exciting thing about Sponge is that it’s still super early to get into the coin.
Meme coins like Bonk, Dogwifhat, and Pepe have shown how an upstart meme coin can reach a multi-billion-dollar market cap.
The meme coin’s website is also teasing that it will soon launch on bigger and better exchanges, which could bring a wave of new buyers to $SPONGE.
At under $150 million, Sponge could be looking at 10 or even 100x upside from here.
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