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. As a result of this, its users can exchange crypto tokens in a completely decentralized manner, as liquidity pools are generated to enable them.
AiDoge, on the other hand, is a cryptocurrency project that concentrates on creating memes using artificial intelligence (AI). The main idea is to generate creative and relevant memes that follow trends in the digital currency world.
In the end, Spongebob (SPONGE) is a decentralized memecoin developed on Ethereum (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
According to the data, we see that the last time the Pepe meme cryptocurrency pumped, people who had invested in the SPONGE crypto token saw considerably more whole lot of gains.
As anticipated, SPONGE was launched on 4 May at $0.000073 and in 3 days it reached an record-breaking peak (ATH) of $0.002394. This increase was equivalent to a +3179.45%.
The price of SPONGE is as of now about $0.0005815, with a fully diluted market cap of $23.4 Million. We see that, so far, SPONGE has followed Pepe, rebounding from its bottom Line and growing 13 percent in recent weeks.
Furthermore, with Pepe already up greater than 50%, we see a chance for investors to shift their recent Pepe profits into coins with greater upside potential, such as SPONGE.
Additionally, we understand that the SPONGE crypto 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. Seeing as Pepe’s price, the Binance platform could be the one they are alluding to.
Still, one reason SPONGE has done so well so far could be the project’s 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 Pepe’s example and see big profits once again.
Will AiDoge be future of the Meme Coin coins?
The latest AiDoge meme 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 30 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 Meme Coin coins. Nonetheless, it likewise introduces its own innovative features that could fuel its boost once it is listed on major exchanges.
Reports by AiDoge’s whitepaper, the project’s distinguishing feature is its artificial intelligence-based Meme Coin generator, which is set to become a revolutionary tool in the social media landscape.
This Meme Coin generator harnesses the power of artificial intelligence, enabling users to create unique, trending and funny memes with just several clicks.
AiDoge’s Meme Coin generator works through a series of sophisticated algorithms trained on huge datasets. Those who wish to use AiDoge’s Meme Coin generator must buy credits using Artificial Intelligence (AI), AiDoge’s native ERC-20 token.
Given its critical role in the AiDoge.com ecological system, the Artificial Intelligence (AI) crypto token has indeed attracted the interest of plenty of major figures in the cryptocurrency space.
These include YouTuber Cryptocurrency Gains, who boasts greater than 105,000 subscribers, who recently expressed his positive tendency sentiment toward the token.
CAKE will be declining until the market stabilizes
According 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.
Following 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 the present candle has eventually been breached. Furthermore, bears might 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 boost in trading charges, up about 190%.
The boost in trading charges is owing to the inclusion of the V3 fee and market maker fee in April. Despite the fact that trading charges increased, revenue remained unchanged.
The number of daily transactions and users has dropped significantly in recent days. PancakeSwap’s position as a Top 10 digital currency by market cap has likewise declined in recent days.
In the end, the number of daily active addresses has likewise declined, indicating lower usage. Negative sentiments are as of now dominant in the market. PancakeSwap’s price forecast suggests a decline until the market stabilizes.