In a surprise doppelganger moment, a new Dogecoin on SOL has undertaken a huge skyrocket pump, with Solana meme coin DOGE price surging +60,980%, and now expert analysts are asking could this other coin be next?
CA – etg47tBNbrh74atYUcCMrrbkHcrHj9Bm9cpXhCSJWGt
— DOGE ON SOLANA (@SolanaOnDoge) February 13, 2024
Despite major localized price retraces, the spin-off DOGE on Solana retains bullish sentiment amongst the crypto community, with all eyes on price as it fights to mount an uptick back above support.
DOGE Price Analysis: As Dogecoin on SOL Attempts to Push Up Once More – Is it Too Late to Buy DOGE?
As price action fights to push high once again, DOGE is currently trading at a market price of $0.00010807 (representing a 24-hour change of -28.8%).
This comes amid price correction following a dramatic pump overnight, which saw DOGE climb from a launch price of just $0.00000006 to an impressive all-time high at $0.0012.
The huge move was fuelled by a tsunami of volume from the crypto community, with more than $4.85m in trading volume flooding into DOGE over the past 24-hours.
Such a large flood of volume has created substantial spikes of volatility in DOGE price, and now stood -90% below the all-time high, DOGE price seems to be establishing a bedrock of consolidation at $0.0001029.
Yet, despite the major price correction, sentiment underpinning Dogecoin on SOL remains strong with the coin retaining its status as Hot #5 on DEXTools.
After all, with a market cap retraced down to $122k, DOGE price could undertake impressive growth from here – with as much as a 8-16x return available with a relatively small movement.
But investors should exercise some caution here, with Dogecoin’s liquidity pool offering little room to manoeuvre for traders with $23k of unlocked liquidity representing a meagre 18% of DOGE’s market cap.
For this reason, many smart money investors are shifting their attention to a more strategic second-wind play in Sponge V2.
Sponge V2 Launch ($SPONGEV2): Last Chance to Buy – Poised To Outperform DOGE on SOL and Other Solana Meme Coin?
Sponge V2, the latest iteration of the renowned Sponge ($SPONGE) meme coin, is making waves in the cryptocurrency market.
Following the phenomenal success of Sponge V1, which peaked at nearly $100 million in market cap and amassed over 13,000 holders, Sponge V2 arrives with promising innovations and opportunities for investors.
— $SPONGE (@spongeoneth) February 12, 2024
How to Acquire Sponge V2, Staking Mechanics explained and P2E Integration
Acquiring Sponge V2 is unique:
Stake Sponge V1: Buy and stake V1 tokens via Sponge.vip or stake your existing V1 tokens.
Earn More V2: The longer and more V1 tokens you stake, the more V2 tokens you earn.
Read more: Best Crypto to Invest In 2024
Sponge V2 introduces Play-to-Earn (P2E) utility, enhancing its ecosystem.
Stake your V1 tokens to earn V2, and engage in the upcoming P2E game to earn additional $SPONGEV2 tokens.
Moreover, this P2E game, a new utility in the Sponge ecosystem, will feature both free and paid versions for enhanced gaming and earning experiences.
Unique Aspects of Sponge V2 Over Dogecoin Price Analysis
Exclusive Access: Earn $SPONGEV2 exclusively through $SPONGE staking.
Bonus Rewards: Buying and staking $SPONGE offers special $SPONGEV2 bonuses.
Passive Earnings: Staked $SPONGE tokens yield passive rewards, starting at a minimum 40% APY.
Permanent Transition: Staking V1 tokens will result in their permanent locking, shifting the focus to V2 post-launch.
Sponge V2 Roadmap and Future Prospects
Sponge V2’s roadmap is ambitious, targeting 10,000 holders, Tier 1 CEX listings, and a $100M market cap.
The launch stages include the Sponge game’s development and the Sponge V2 claim and listing.
Sponge V2 is not just a sequel to its predecessor; it’s a reinvention with a focus on utility and community engagement.
The integration of P2E and exclusive staking mechanisms make it a standout project in the meme coin domain.
Stay updated on Sponge V2’s journey through social channels and witness its growth in the crypto world.
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