Pepe & Other Meme Coins Surge – Is Sponge Next to Explode?

Meme coins are back in business, with tokens like Pepe (PEPE) seeing massive gains in the past 24 hours.

As traders pile back into these speculative assets, their rallies prove that reports of meme coin downturn were likely exaggerated.

With hype rising again, one token that could be primed to benefit is Sponge V2 (SPONGEV2) on the low-cost Polygon network.

Crypto.com Promotion Drives PEPE 39% Higher

Leading the meme coin market’s resurgence is PEPE, which has rocketed over 39% from yesterday’s low.

The token is changing hands at $0.00000815 after rebounding from support at $0.00000582.

PEPE’s gains seem to be driven by a mix of speculation and a new, high-profile partnership.

Yesterday, top crypto exchange Crypto.com announced that it would be giving away over $500,000 worth of PEPE tokens to new users from the United States.

The promotion, which runs until April 10, highlights how major platforms like Crypto.com are looking to capitalize on the ongoing meme coin craze.

By introducing PEPE to its millions of users, the exchange is helping create further activity around the token.

This has translated to a sizable uptick in spot trading volumes.

More than $1.7 billion in trading occurred in the past 24 hours, representing a 10% increase from the previous day.

With PEPE now just 32% below last week’s all-time high, the token seems to be gaining significant momentum.

Meme Coins Resurrected as Overall Market Cap Tops $54bn

It’s not just PEPE riding the meme coin wave higher.

Most major tokens in the space have seen significant gains over the past 24 hours amid the buying frenzy.

Dogecoin (DOGE), the original meme coin, has pumped over 20% to reclaim the $0.15 level.

Fellow meme coin Floki (FLOKI) has done even better with a 40% rally of its own.

Solana-based meme coins like Bonk (BONK) and dogwifhat (WIF) are also firmly in the green.

The surging retail interest has catapulted the overall meme coin market cap back above $54 billion, a 13% increase from yesterday’s lows.

Total spot trading volumes have exploded as well, topping $12.1 billion.

While the sudden uptick in demand could simply be the product of traders chasing momentum, some point to yesterday’s dovish comments from the Fed as a catalyst.

Fed Chair Jerome Powell’s reassurance that the central bank would cut interest rates later this year seems to have resonated with crypto investors.

Is Sponge V2 Next to Ride the Meme Coin Wave on Polygon?

While PEPE, DOGE, and other meme coins are ripping higher, traders may already be looking for the next breakout star.

One token that seems primed to benefit from the hype is Sponge V2 on the Polygon network.

SPONGEV2 has gained over 15% from yesterday’s lows and is changing hands at around $0.00275.

Interestingly, buy orders have significantly outpaced sell orders over the past day, with buyers accounting for more than double the volume.

This heightened demand included one particularly large $10,000 market buy that came in yesterday morning.

The rising interest in Sponge V2 could be an early sign that the meme coin frenzy is spreading to Polygon’s ecosystem.

Unlike many older meme coins, Sponge V2 offers real use cases beyond its SpongeBob SquarePants-themed branding.

The token has a high-yield staking protocol that rewards long-term holders, while its developers are also creating a play-to-earn (P2E) racing game.

With price action heating up and rising demand from large buyers, SPONGEV2 seems well-positioned to benefit from the meme coin market’s momentum.

Additionally, with the project’s roadmap laying out plans for CEX listings soon, SPONGEV2 may be in line to gain even more exposure and liquidity.

Visit Sponge V2 Website

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