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As the Dogecoin price stabilizes around $0.15, just below the recent multi-year peaks reached earlier this month, members of the Dogecoin community are focusing on a new ICO named Sponge (SPONGE) in hopes of achieving 1000% returns.
Currently, Dogecoin’s market capitalization is approximately $22.6 billion, solidifying its position as the leading meme coin.
However, its substantial market cap has raised concerns that the potential for further growth may be diminishing.
Is it feasible for a meme coin without utility to maintain a market cap significantly exceeding $50 billion?
Some individuals worry that Dogecoin’s potential for growth might be capped at a maximum of 5x from its current level.
In the realm of meme coins, traders often dismiss the idea of achieving 7-8x returns.
Meme coin investors typically seek out coins that present opportunities for gains around 100x or greater.
One such coin that is likely on their radar is a lesser-known crypto ICO called Sponge (SPONGE).
Dogecoin Community Targets New ICO Sponge (SPONGE)
The notable meme coin Sponge (SPONGE), which achieved a market cap of $100 million in 2023, providing investors with 100x returns at that time, is once again gaining attention following its transition to Polygon.
Currently priced at $0.00268, $SPONGE has surged approximately 400% since its launch on Polygon on February 5.
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This results in an impressive market cap of just under $110 million, according to DEXTools. Furthermore, Sponge is not merely another utility-deficient meme coin.
The new ICO provides a passive income opportunity and serves as the native token for a play-to-earn (P2E) racing game.
Individuals who stake their Sponge tokens can earn yields of up to 175%, according to the official Sponge website.
Additionally, the P2E game will allow players to compete against one another for positions on a global leaderboard, with racing rewards distributed in SPONGE V2.
Perhaps the most intriguing aspect of Sponge is that it remains an opportune time to invest in the coin.
Meme coins such as Bonk, Dogwifhat, and Pepe have demonstrated how a new meme coin can attain a multi-billion-dollar market cap.
The meme coin’s website is also hinting at an upcoming launch on larger and more prominent exchanges, which could attract a new wave of buyers to $SPONGE.
With its modest market cap of $110 million, Sponge may be poised for 100x gains from this point.
Buy Sponge Here
The post Dogecoin Community Targets New ICO in Search of 1000% ROI Tokens appeared first on Cryptonews.
