Cryptocurrency is no longer just about Bitcoin and Ethereum. The industry is now witnessing the rise of memecoins, a new trend that has emerged as the market continues to expand. In recent days, enthusiasts have been buzzing about two newbies coins, PEPE, and $SPONGE. Just as the Pepe craze began to die out, $SPONGE captured the attention of investors.
The popularity of $SPONGE, a new memecoin, continues to soar as major crypto exchanges, including MEXC, Bitget, and Gate, list the digital asset on their trading platforms. Investors are closely watching as the memecoin gains traction in the crypto market.
After being listed on Poloniex, LBank, CoinW, Toobit, and BTCEX crypto exchanges, the $SPONGE will begin trading on Bitget and Gate on Friday, May 12 at 10:00 UTC. Digital Memecoin will complete its listing on eight major cryptocurrency exchanges by Friday and it is expected to cross the figure to 10 soon.
According to CoinMarketCap data, Bitget is the ninth largest crypto exchange with a trading volume of $801 million. The exchange has started taking deposits for $SPONGE at 10 am today and will start trading on May 12th.
Bulls are excited to play a major role in the trading session of $SPONGE following the incredible gain of 600% this week as per the CoinMarketCap.
Over the past seven trading sessions, $SPONGE memecoin has jumped nearly 1400% surprising investors amidst the frenzied buzz of PEPE Coin.
As of now, the price of $SPONGE is trading at $0.000578, which indicates a 35% drop overnight. However, the trading volume is low compared to previous days, as it has remained at $17.2 million over the last 24 hours, as reported by CoinGecko.
The popularity of memecoin is soaring, with its official Twitter account about to hit 40,000 followers in just seven days.
As the memecoin industry continues to make waves, $SPONGE is predicted to become a top performer this month, following in the footsteps of PEPE.
Also read: Crypto Whales Buy $PEPE Worth $4 Million Despite Price Drop
