Smash Hit Meme Coin $SPONGE Pumps 67% Higher on Bitget and Gate.io Listings Excitement
Thursday May 11th 2023 – Much talked about meme coin $SPONGE lists on Bitget and Gate.io today Friday May12th at 10:00 am UTC.
One week old $SPONGE will now be available to trade on eight exchanges, a feat that blows out of the water all other meme coins.
Despite weakness in the bitcoin market where it is down 4% this morning, $SPONGE shows admirable strength, at one stage in the run-up to the latest CEX launches, up up 67% as buyers move in.
CoinMarketCap declares $SPONGE to be the seventh-best gainer in the past 24 hours, beating the likes of Dogecoin and Shiba Inu, both down more than 2%.
Pepe, which $SPONGE has ambitions to flip, is in the red today alongside its larger meme coin peers. Pepe is suffering as market participants rotate into new meme coin launches in search of the best alpha opportunities.
The frog coin is down 31% and looks increasingly like it could be caught in a self-reinforcing drawdown.
Key to the sturdy price support for $SPONGE as it closes out its first week of trading is the influx of new buyers it continues to attract, the vast majority of whom are continuing to hold the coin, even if some have sold a portion of their holding to recoup their initial investment.
$SPONGE is here to stay.
The meme coin with global appeal continues to feature among the trending coins on Dextools, where it is currently placed No.1, with bitcoin in No.2 position.
There are now 11,780 holders of the token and with the addition of two more centralized exchanges today, where the number of holders is not transparent, we can certainly more than double that overall figure.
Bitget and Gate.io are both in the top ranks of exchanges globally. Gate.io is ranked ninth and Bitget thirteenth on CoinMarketCap. They both have 24-hour
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