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?
This article will provide an analysis of DOGE’s current price trends and look to see whether a newer meme coin, Sponge V2, represents a more promising investment opportunity at this time.
CA – etg47tBNbrh74atYUcCMrrbkHcrHj9Bm9cpXhCSJWGt
CHART – https://t.co/ywIwJ092w0 pic.twitter.com/3QKNc5aTLL
— 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.
People who don’t own $SPONGE be like:#SpongeV2 #Crypto #Bullish #Altcoins #Web3 #100x pic.twitter.com/4CmN7thXAW
— $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.
The post As ‘Dogecoin’ on SOL Blasts Up 60,980%, This Other Coin Just Breached $9,000,000 appeared first on Cryptonews.
