Can this new token replicate the success of Solana meme coin, earning a trader over $1.6m?

Meme Coin Mania: How One Trader Made $1.6M

The cryptocurrency market has been full of surprises, with several under-the-radar coins suddenly surging. For example, one trader recently made over $1.6 million by getting in early on a Solana-based meme coin that rallied exponentially in the past month. Now, some speculate that Sponge V2 could be the next token to breakout.

BONK Leads the Pack in Solana

The hype around WIF can largely be attributed to Bonk (BONK), a meme coin that has been making headlines in recent weeks. Launched on Solana in December 2022, BONK features a minimalist cartoon Shiba Inu, surrounded by a yellow circle. However, much has changed for BONK in recent weeks, with its prices exploding, helping it hit a market cap of over $1.2 billion at the time of writing.

Is Sponge V2 Next?

Building on WIF and BONK gains, some speculators believe a new token, Sponge V2 , could be poised for similar gains. Sponge V2 is the next iteration of Sponge (SPONGE), a community-driven meme coin that had a peak market cap of $100 million earlier this year. The original SPONGE surged before prices sharply fell. Its developers are now resetting it with a V2 token and a new staking model.

SPONGEV2: A Promising Token

SPONGEV2 is already generating traction from retail investors, even though the token was only announced on December 18. The Sponge ecosystem already has an established community, evidenced by more than 23,000 followers on Twitter. Moreover, the developers have laid out plans for the future of SPONGEV2, which include a new play-to-earn (P2E) game allowing gamers to earn more tokens in an engaging way. To acquire SPONGEV2, investors must buy and stake the original SPONGE token using the widget on the Sponge.vip website or stake their existing holdings if applicable.

Hot Take: Sponge V2 Could Be the Next Low-Cap Meme Coin to Watch

If Sponge V2 captures even a fraction of the mania that WIF or BONK have seen, there’s a growing belief it could be the next low-cap meme coin to produce enormous gains for early investors.