$SPONGE Price Bounces After Meme Token Market Crash, More Exchange Listings Announced
Top trending meme coin $SPONGE is bouncing back strongly after the wider crypto crash sent meme coins lower.
Helping $SPONGE today is the news of its launch on the Poloniex centralized exchange (CEX) at 11:00 UTC.
The Poloniex listing means $SPONGE can now be traded on four CEXs. Yesterday $SPONGE listed on LBank and the day before that on CoinW and Toobit.
There are very likely to be more listings for $SPONGE coming soon, possibly before the US session gets into gear.
As crypto prices retrace lower after a crash triggered by bitcoin withdrawal pauses at top exchange Binance, $SPONGE traders are now back in buying mode.
$SPONGE token has in a matter of days earned its place at the head of a new wave of meme coins, as interest explodes around tokens such as Pepe and $SPONGE.
$SPONGE is only just getting started and the current market set up provides a huge opportunity to profitably buy the dip.
Savvy investors will be well aware that retracements present opportunities and are a good sign of markets developing in a healthy direction with sustainable price formation.
The current price of $0.001338 is indicative of this phenomena, as it bounces hard off its near-term bottom at $0.000.8541.
CoinMarketCap data shows $SPONGE is up 90% on a 24-hour view, although it is off its all-time high printed yesterday at $0.002402. By contrast, Pepe coin is down 15% in the past 24 hours. $SPONGE now has a market cap of approximately $50 million.
$SPONGE has the fourth-best performing price of all meme coins on a 24-hour basis, at the time of writing.
The Pepe-beating coin on a 7-day return view is up 1,561%, and by a higher percentage prior to CoinMarketCap tracking having began. Some early holders turned a $50k investment into over $1 million.
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