The ZKGROK token, based on ZKsync, has experienced a sensational overnight skyrocket, surging 130x in value. This remarkable pump has brought the unlikely token into the spotlight on DEX markets, where it now holds the impressive position of #3 on DEXtool’s hot pairs. In recent times, AI narrative-based tokens, like ZKGROK, have been gaining significant momentum, attracting the attention of investors looking for high returns.
ZKGROK’s success can be attributed to the anticipation of a second wind for the breakout GROK token from November, which has been replicated on the low-cost ZKsync blockchain. As ZKGROK continues to consolidate its gains, its current market price stands at $0.0000891, representing a 24-hour change of +6.78%. The token’s mesmerizing launch witnessed an instant surge in price, soaring +3,797% in the first two hours. Since then, ZKGROK’s price has continued to steadily climb, with an additional +10% increase in a gradual and well-defended rally.
While ZKGROK’s rapid rise is impressive, questions are emerging regarding whether the token has become over-extended. With a market cap of $8.91 million, ZKGROK has reached an incredibly high valuation for such a new coin. Typically, similar pumps start to lose momentum around $5 million market caps, suggesting that there may be limited room for further growth. Nevertheless, the fact that 85% of transactions still involve purchasing swaps indicates that buy pressure remains strong.
Another critical issue surrounding ZKGROK is its liquidity pool, currently sitting at an alluring $442k. However, this pool remains unlocked, leaving traders potentially exposed to undue risk. Considering these factors, it is plausible to conclude that ZKGROK is currently in the top-phase of its rally cycle, and a retracement move is more likely than further upside.
While ZKGROK’s future hangs in the balance, another meme coin is making waves in the cryptocurrency market. SPONGEV2, the latest iteration of the renowned Sponge ($SPONGE) meme coin, presents exciting opportunities and innovations for investors. The predecessor, Sponge V1, witnessed phenomenal success, reaching nearly $100 million in market cap and attracting over 13,000 holders. Now, Sponge V2 aims to build on this success and introduce new utility and community engagement.
Acquiring Sponge V2 is a unique process. Holders can stake their Sponge V1 tokens to earn V2 tokens, with the amount earned based on the duration and quantity of V1 tokens staked. In addition, the introduction of Play-to-Earn (P2E) utility enhances the Sponge ecosystem. By staking V1 tokens and participating in the upcoming P2E game, individuals can earn additional $SPONGEV2 tokens. The game will offer both free and paid versions, providing an enhanced gaming and earning experience.
Sponge V2 has set an ambitious roadmap, including targets of 10,000 holders, Tier 1 CEX listings, and a $100 million market cap. The development stages involve the creation of the Sponge game and the subsequent claiming and listing of Sponge V2. This latest iteration of the meme coin aims to be more than just a sequel; it seeks to reinvent itself by focusing on utility and community engagement. The integration of P2E and exclusive staking mechanisms makes Sponge V2 stand out in the meme coin domain.
Stay updated on Sponge V2’s journey through social channels and witness its growth in the crypto world. However, it is crucial to remember that investing in cryptocurrencies is a high-risk venture. This article provides information for informational purposes only and does not constitute investment advice.
As ZKGROK’s meteoric rise potentially reaches its peak, attention is shifting to SPONGEV2 as the next meme coin to watch. While ZKGROK’s sustainability is in question, Sponge V2 offers promising innovations and opportunities for investors. The introduction of P2E utility and exclusive staking mechanisms differentiates Sponge V2 from its predecessor and positions it as a standout project in the meme coin domain. As the crypto world continues to evolve, monitoring the growth and development of these meme coins will offer insight into the ever-changing landscape of digital investments.