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$409.76 3.8455
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$112.97 5.02776
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XRP
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$0.5662590 -3.21546
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Shiba Inu
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$0.0000112 2.68306
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Pepe
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$0.0000030 5.60752
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El Hippo
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Bitcoin
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Shiba Inu
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$0.0000112 2.68306
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Pepe
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$0.0000030 5.60752
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El Hippo
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$0.0000000057230 0.90346
El Hippo price
Bonk
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$0.0000151 -2.31033
Bonk price
Bitcoin
Bitcoin (BTC)
$61,186.00 7.31078
Bitcoin price
Ethereum
Ethereum (ETH)
$3,319.90 2.46393
Ethereum price
BNB
BNB (BNB)
$409.76 3.8455
BNB price
Solana
Solana (SOL)
$112.97 5.02776
Solana price
XRP
XRP (XRP)
$0.5662590 -3.21546
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000112 2.68306
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000030 5.60752
Pepe price
El Hippo
El Hippo (HIPP)
$0.0000000057230 0.90346
El Hippo price
Bonk
Bonk (BONK)
$0.0000151 -2.31033
Bonk price

PEPE, BONK fall, investors watching Sponge token

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PEPE, BONK fall, investors watching Sponge token

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Meme coins have struggled over the last 24 hours with PEPE and BONK sliding by 2.51% and 5.2%, respectively. However, traders are backing Sponge V2 to rally as its buy-and-stake campaign rises to $1.9 million.

Pepe and Bonk dropping

A flash crash in the market caused crypto prices across the board to plunge. However, leading meme coins were among the worst affected, with PEPE and Bonk dropping by double digits.

Yet, while the broader market recovers, PEPE and BONK are in the red. PEPE is down 9.58% this week and 10.35% this month.

PEPE, BONK fall, investors watching Sponge token - 1

Meanwhile, Bonk is down 26% this week and 66% from its Dec. 15 all-time high (ATH).

PEPE, BONK fall, investors watching Sponge token - 2

Nevertheless, some analysts see these selloffs as potential buying opportunities.

Trader ZaZa believes PEPE is trading at the bottom of its range and speculates that a move toward $0.0000025 is imminent. 

Currently, Pepe is trading at $0.000000123.

PEPE, BONK fall, investors watching Sponge token - 3

Meanwhile, trader Mirage believes Bonk may recover after selling off from its all-time high. The token may reach $0.00004 and later $0.0000113.

PEPE, BONK fall, investors watching Sponge token - 4

The bullish sentiment results from a broader market optimism, with Michael van de Poppe speculating that spot Bitcoin ETFs may be approved on Jan. 5.

While this happens, more analysts are closely monitoring Sponge V2.

Sponge V2 can rally because of its P2E utility

Sponge V2 is a new rendition to Sponge, a meme coin which rallied to a $100 million market cap, netting early adopters a 100x ROI.

The original Sponge was listed in over 10 crypto exchanges.

It also had over 30K social media followers and 13K holders.

The team is improving on the project, aiming to absorbing the new meme coin liquidity and provide the community a second chance.

PEPE, BONK fall, investors watching Sponge token - 5

Sponge V2 has a play-to-earn (P2E) racing game. Holders can earn free crypto while providing tangible utility to SPONGEV2.

Ahead of Bitcoin halving, analysts maintain their bullish outlook on the coin.

Sponge V2 is yet to launch on exchanges. Instead it is only available on the Sponge.vip website via its buy-and-stake campaign. 

Afterward, investors will unstake their Sponge V2 before the token lists on major exchanges.

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

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