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DEX SHARK Price Analysis: Solana meme coin explodes +124,948% - is another meme coin better?
In this article, read an analysis of the SHARK price trend and learn whether the alternative meme coin SPONGE represents a more promising investment opportunity. Discover why traders are now turning their attention to SPONGE, which has already reached a market cap of $100 million. Learn more about SPONGEV2's innovative play-to-earn dimension and why it stands out from other meme coins. Please note that cryptocurrencies are a high-risk asset and this article does not constitute investment advice.
DEX SHARK Price Analysis: Solana meme coin explodes +124,948% - is another meme coin better?
Solana (SOL) has rallied back above $200 with increased activity in the Solana Meme Coin markets, and Shark Token (SHARK) is up an impressive +124,948%. This article analyzes the current price development of SHARK and examines whether the alternative meme coin SPONGE represents a more promising investment opportunity.
The first hours after launching SHARK on the Solana DEX markets were extremely successful, with an increase of +9,400% in the first hour. This resulted in another +200% increase and an all-time high of $0.016. The price has since corrected by -67% due to profit-taking and is now in a phase of consolidation above the support area between $0.0045 and $0.0095.
SHARK’s current price is $0.0055 and has seen a negative change of -37.5% in the last 24 hours. However, trading activity is down, with buying volume accounting for only 33% of transactions in the last hour. With a market value of $5.31 million and 1.65k holders, there appears to be little incentive for late entry.
Given these circumstances, DEX traders have turned their attention to another meme coin – the Sponge Token. In the bear market, SPONGE has already reached a market cap of $100 million and has a solid community of 13,000 holders. With the launch of SPONGEV2, based on a unique staking or purchasing mechanism and offering an innovative “play-to-earn” (P2E) experience, the coin has the potential to surpass the success of its predecessor.
SPONGEV2 allows users to stake or buy V1 tokens to receive V2 tokens, enriching user engagement and investment potential. Additionally, the system rewards users based on holding time and the amount of tokens staked. SPONGEV2 also opens access to an interactive P2E gaming experience that offers users free and premium games and rewards them with $SPONGEV2 tokens.
With the support of an active community and the success of V1, SPONGEV2 has the potential to surpass its predecessor. The unique entry points and P2E gaming make SPONGEV2 an attractive option for existing enthusiasts and new participants in the meme coin space.
Buy SPONGE here.
Note: Cryptoassets are a risky asset class. This article is for informational purposes only and does not constitute investment advice. You may lose all of your capital.