In the dynamic ecosystem of cryptocurrencies, meme coins have come into the limelight lately. The rise in Bitcoin price and the sudden increase in market activities also created activity in popular coins such as Dogwifhat, Shiba Inu and PEPE. However, in just a few days, these coins experienced a serious loss of value.
Meme coins were expected to continue benefiting from market momentum. But declines in prices have sparked debate about the sustainability of meme rallies.
According to data from CoinGecko, in the last 24 hours, both dogwifhat (WIF) and Shiba Inu (SHIB) lost approximately 7 percent in value. The all-time high price for WIF was $2.18, recorded just two days ago on March 6. The price of the cryptocurrency fell below 2 dollars in a short time.
PEPE was rapidly climbing the ladder to become one of the top 50 cryptocurrencies by market cap. It was rumored that the coin might be on the verge of a significant rise. However, PEPE also experienced a loss of approximately 3 percent in the last 24 hours.
The all-time high price paid for PEPE was recorded just 3 days ago, on March 5th. The current price of PEPE is 19.01 percent lower than that level.
According to the sponsored content, investors who do not give up hope on meme coins are focusing on two projects in particular. Sponge V2 token (SPONGEV2) And SMOG tokenIt is wondered how they will be affected by the ongoing fluctuations in the meme coin market. In this sponsored article, details of the projects are conveyed.
Sponge V2 (SPONGEV2) – Rebirth of the Sponge Legend
Investors who want to buy Sponge Token V2 think that last year’s Sponge token legend is back. Sponge delivered extraordinary returns to its investors last year. It was released in May 2023 after a short pre-sale phase and sold out quickly. The token skyrocketed from an initial market cap of $1 million to a valuation of nearly $100 million within a few days of launch.
The team aims to repeat this extraordinary success with the SPONGEV2 tokenomics and new layers introduced into the project. SPONGEV2 has some differences compared to the original version. It doesn’t just take advantage of the SpongeBob character. It aims to add benefit and longevity to its ecosystem through innovative features such as the “Stake-to-Bridge” mechanism.
Additionally, SPONGEV2 token adds a play-win mechanism to the platform to expand its use. Thanks to the game, it will be possible to reach more users. According to the SPONGEV2 whitepaper, this game will allow players to compete with popular cartoon characters.
To participate in the game, players will pay SPONGEV2. Then, token rewards will be offered to players who rise on the leaderboard. Additionally, a free-to-play demo mode will also be available on the platform. Wanting to make it easier to attract new audiences to the project, the team encourages gamers to own tokens.
Additionally, the Sponge network migrated from the Ethereum blockchain to the Polygon blockchain in February. Wanting to benefit from Polygon’s cheaper and faster ecosystem, SPONGE token reached an all-time high after completing this transition. Analysts think that these positive developments in the network will increase the visibility of the SPONGEV2 token.
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Smog Token (SMOG) – New Meme Coin Attracting Attention with Airdrop News
Purchasing SMOG tokens allows investors to benefit from a multi-chain meme coin that is “conducting the largest airdrop of all time.” This airdrop reserves 35 percent of the total supply for participants.
SMOG token, a dragon-themed meme coin, was launched just a month ago on February 7. Launched on Jupiter DEX, this project experienced an incredible rise in just a few hours. Moreover, its value has increased by 450 percent in the last month.
While still a relatively low price, this rapid rise in such a short time frame has attracted attention in the meme coin world. One of the things that fuels purchasing demand is SMOG’s increasing number of followers and popularity.
Although it is a very new project, approximately 65 thousand SMOG owners have come together and helped the market value exceed 200 million dollars. This excitement also spread to X and Telegram. SMOG communities are growing day by day on social media.
High-profile influencers like Matthew Perry, who has over 214,000 subscribers, are trying to bring more visibility to the token. This kind of mobility gives smog the advantage of being one of Solana’s most popular tokens in the meme coin scene.
Staking rates, airdrops and the multi-chain future are accelerating the rise of the project. SMOG has a staking protocol that rewards long-term holders. It is necessary to stake SMOG tokens for rewards. Staking tokens can be withdrawn 90 days after they were last added to the staking pool.
Additionally, after staking, token holders can take their place in the biggest Solana airdrop of all time. It is necessary to complete some tasks to accumulate airdrop points. This airdrop campaign, conducted in partnership with Zealy, helps expand the project’s user base.
The team is also making ambitious moves regarding multi-chain plans. SMOG will soon be available on the Ethereum blockchain as well as Solana.
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