How This Crypto Wallet Turned $50k to $500k In A Day With New Meme Coin $SPONGE
One trader bought new meme coin $SPONGE on Uniswap and made a 10x return on investment within a little over 24 hours.
SpongeBob (SPONGE) was listed on May 4th, opening at $0.00002749 and reaching $0.0006533 shortly after, its current all-time high.
While he didn't capture the entire move, one early investor bought 972 million SPONGE for 31.5 Ether, worth just over $50,000 at the time.
View that $SPONGE purchase here on Etherscan.
That crypto wallet now has a balance valued at $500,000, according to crypto portfolio tracker Debank, including 0.45 ETH.
The trader took profit on 2.5% of his position, selling 15 million $SPONGE so far - appearing confident that it will continue to rise in price.
A relatively new wallet, Debank records the investors' net worth as having increased over 50,000%.
The current $SPONGE live market cap is $19 million according to CoinMarketCap, with a fully diluted valuation of $21 million.
On its launch day Sponge token was among the top crypto gainers, ranking in the top 2-3 coins over that 24 hour period, outperforming meme coin like Pepe (PEPE) in percentage gains.
Following Uniswap DEX, two centralized crypto exchange (CEX) platforms have also listed $SPONGE at the time of writing - CoinW and Toobit.
Two exchange listings within its first two days is faster than PEPE at launch, leading to some analysts tipping it for success. There are rumors MEXC is also set to announce their listing of the new meme coin.
Find links to the DEXTools trading pair, a Uniswap widget and the social media channels on spongebobtoken.io.
Visit Sponge Website
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