- SpongeBob Square is the latest to ride the wave of memecoins and only January 11 shot up 5,000%.
- The lame sign looks its best, and with a limited supply of 1,000 billion sponges, it is unlikely to be able to maintain its earnings.
Dogecoin opened the door, Shiba Inu built it, the Squid Game sign reminded us how dangerous this route can be, and now SpongeBob Square is trying to revive it. The token, which trades as SPONGS, has risen thousands of percentage points over the past few days, just looking at its tokenomics and team casts shadows on Game Squid and some other dubious projects of Binance Smart Chain.
Over the past day, SPONGS has gained 131 percent as it continues its spectacular run. It is trading at $ 0.000000000947 at press time, according to data from CoinMarketCap.
SPONGS has broken records over the past few days with its honest profits. Yesterday, January 11, it rose more than 5,000% to the top of the list of biggest intraday gains. In the last week alone, it has increased from $ 0.000000000043 to a record high of $ 0.00000001707.
However, the meteoric rise, as impressive as it is, is not the whole story. The sign, built on the Binance Smart Chain, is based on SpongeBob SquarePants, an American animated television series that has been broadcasting since 1999. SpongeBob SquarePants is one of the most amazing TV characters and is the fifth longest running series. in the series. American television history.
Needless to say, SpongeBob Square, the sign, has nothing to do with the Nickelodeon TV series. In any case, the use of the name is probably illegal. However, in the world of cryptocurrencies, this has been the norm for the past few days.
With blockchain networks like BSC relatively easy to use even by entry – level developers, creating new tokens has never been easier. And unlike in the past, when exchanges like Binance and Coinbase were gatekeepers, decentralized exchanges like PancakeSwap and Uniswap allow almost any user to list their tokens.
It has already happened again and again. Most recently the most famous was Squid Game, a sign taken back on top of BSC named after the hugely popular Netflix TV series. Squid Game got all the hype and their price rose within days to a record high of over $ 2,800.
But even faster than he was fired, he fell. The price went from $ 2,800 to almost zero in less than an hour after a suspected rug was pulled. Binance and other entities have tried to find the crimes, but in the world of decentralized finance, this is almost impossible.
SpongeBob has big promises that the token «can be accepted by the general public as both a payment method and a meme token.»
On his website, he says:
SPONGS will free all of humanity from the effects of inflation. By combining the power of memes with the real thing, SPONGS empowers and empowers people instead of venture capitalization and hedge funds.