What are the latest prices and news involving the cryptocurrency assets SpongeBob (SPONGE), PancakeSwap (CAKE) and AiDoge?
Below is an overview of their performance and market sentiment.
Cryptocurrency analysis of SpongeBob (SPONGE), PancakeSwap (CAKE) and AiDoge
As a reminder, PancakeSwap is a decentralized exchange (DEX) that operates under the Automatic Market Maker (AMM) model. Asย aย resultย of this, its users can exchange cryptoย tokens in a completely decentralized manner, as liquidity pools are generated to enable them.
AiDoge, on the other hand, is a cryptocurrency project that concentratesย on creating memes using artificial intelligence (AI). The main idea is to generate creative and relevant memes that follow trends in the digitalย currency world.
Inย theย end, Spongebob (SPONGE) is a decentralized memecoin developed on Ethereumย (ETH). SPONGE, the native cryptocurrency in ERC-20 format, was launched on the Uniswap DEX on 4 May 2023.
Focus on the price of SPONGE crypto: the comparison with CAKE and AiDoge
Accordingย to the data, we see that the last time the Pepe memeย cryptocurrency pumped, people who had invested in the SPONGE cryptoย token saw considerably more wholeย lotย of gains.
As anticipated, SPONGE was launched on 4 May at $0.000073 and in 3 days it reached an record-breakingย peak (ATH) of $0.002394. This increase was equivalent to a +3179.45%.ย
The price of SPONGE is asย ofย now about $0.0005815, with a fully diluted marketย cap of $23.4 Million. We see that, so far, SPONGE has followed Pepe, rebounding from its bottomย Line and growing 13 percent in recent weeks.ย
Furthermore, with Pepe already up greaterย than 50%, we see aย chance for investors to shift their recent Pepe profits into coins with greater upside potential, such as SPONGE.
Additionally, we understand that the SPONGE cryptoย token website recently updated its roadmap, which revolves around generating hype and building its community.
1 of the ultimate goals on the roadmap is to obtain a listing on a top-tier exchange. Seeingย as Pepeโs price, the Binance platform couldย be the one they are alluding to.
Still, one reason SPONGE has done so well so far couldย be the projectโs rapidly growing social media presence, gaining over 39K Twitter followers in less than 10 days.
Hence, with such a following and proven pumping success in the past, SPONGE could follow Pepeโs example and see big profits once again.
Will AiDoge be futureย ofย the Memeย Coin coins?
The latest AiDoge memeย cryptocurrency has gotten some serious attention, given its cutting-edge blend of Doge-style aesthetics and artificial intelligence (AI) technology.
Nonetheless, AiDoge has caused a stir during its ongoing pre-sale phase, raising an impressive $12.7 million in less than a 30ย days, a testament to its appeal even before it reaches the broader market.
Like Shanghai Inu, AiDoge has capitalized on the enormous appeal of Doge-inspired Memeย Coin coins. Nonetheless, it likewise introduces its own innovative features that could fuel its boost once it is listed on major exchanges.
Reportsย by AiDogeโs whitepaper, the projectโs distinguishing feature is its artificial intelligence-based Memeย Coin generator, which is set to become a revolutionary tool in the social media landscape.
This Memeย Coin generator harnesses the power of artificial intelligence, enabling users to create unique, trending and funny memes with just severalย clicks.
AiDogeโs Memeย Coin generator works through a series of sophisticated algorithms trained on huge datasets. Those who wish to use AiDogeโs Memeย Coin generator must buy credits using Artificialย Intelligenceย (AI), AiDogeโs native ERC-20 token.
Given its critical role in the AiDoge.com ecologicalย system, the Artificialย Intelligenceย (AI) cryptoย token has indeed attracted the interest of plentyย of major figures in the cryptocurrency space.
These include YouTuber Cryptocurrency Gains, who boasts greaterย than 105,000 subscribers, who recently expressed his positiveย tendency sentiment toward the token.
CAKE will be declining until the market stabilizes
Accordingย to the latest data, we see that the price of the cryptocurrency PancakeSwap (CAKE) suffered a strong bearish momentum after destroying the $3.32 support level.
Followingย that, the price tried to form support at the $2.60 level and came back to the $2.76 level, which can be seen as a short-term pullback to attract the price down further.
As a matter of fact, bears dominate and the price of CAKE cannot catch its breath to stop the momentum. Recent support has formed at $1.79 and theย present candle has eventuallyย been breached. Furthermore, bears mightย propel the price below the $1 threshold.
We likewise see that PancakeSwap recently burned 8,554,482 CAKE worth over $16 million. A huge burn price caused an boostย in trading charges, up about 190%.ย
The boostย in trading charges is owingย to the inclusion of the V3 fee and market maker fee in April. Despiteย theย factย that trading charges increased, revenue remained unchanged.
The number of daily transactions and users hasย dropped significantly in recent days. PancakeSwapโs position as a Top 10 digitalย currency by marketย cap has likewise declined in recent days.
Inย theย end, the number of daily active addresses has likewise declined, indicating lower usage. Negative sentiments are asย ofย now dominant in the market. PancakeSwapโs priceย forecast suggests a decline until the market stabilizes.
