Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Minu meme coin soars 1,100%, hints at new highs. Sponge V2 also surges with P2E hype.
A BSC-native meme coin called Minu has surged over 1,100% this month. But after finding a high-interest support level, the price looks set for another leg up.
Its meteoric trajectory reflects a broader market excitement in meme coins, enabled by the recent pump among leading cryptos like Bitcoin (BTC) and Ethereum (ETH).
Minu shows strength as traders forecast further gains
CoinMarketCap’s price history dates back to Jan. 19 for Minu, when it has seen a 1,195% increase, with an 83% uptick coming this week and a 7.86% today.
Currently, Minu holds a $1 million market cap but an impressive $5 million 24-hour trading volume.
While its price has seen notable gains in the outlined timeframes, it has experienced a deep retracement from its Jan. 22 ATH.
Minu peaked at $0.0000005638 and is currently trading at $0.0000001836, representing a 67% selloff.
That said, the Minu price chart displays significantly bullish signals, recently breaking a descending triangle after forging steadfast support.
The recent uptick pushed its price above the previous resistance, indicating new highs may be on the horizon.
Analyst GemCollector believes that Minu is “about to explode and reach a new ATH.”
Meanwhile, CoinMarketCap community member Flyingtaz highlighted that the token was trending on CoinMarketCap recently.
“I have never seen any new token like MINU trending on CoinMarketCap before… just HODL… 1000x will come sooner or later.”
Flyingtaz
The Minu X account also gathers momentum, boasting over 5K followers.
Minu offers a unique twist to the traditional meme coin model, positioning itself as the “first mining dog coin on Binance Smart Chain.”
According to its website, Minu is “giving an 8% daily return to its miners in forms of BNB, while Minu’s native token is constantly increasing the TVL (total value locked).”
Data from DeFiLlama shows Minu has already garnered $100,000 TVL, a notable achievement for a new meme project.
But Minu’s success mirrors a broader market appetite for meme coins that carve out new use cases and defy the status quo.
Memes are a powerful marketing tool in crypto, holding cultural relevance that attracts the masses. Minu is leveraging this to build a community and usher in a robust, utility-driven product.
Sponge V2 surges 39% with looming P2E app driving hype
Another meme coin following this model is Sponge. The project has grown significantly since launching a V2 token with a play-to-earn (P2E) utility.
Sponge is a meme coin launched in May 2023, garnering early success as it pumped to a $100 million market cap and netted early buyers a 100x ROI.
It also secured over 30,000 social media followers, 13,000 holders, and ten centralized exchange listings.
But Sponge has evolved along with the ever-changing meme coin landscape, recently launching Sponge V2 on the Polygon network, equipped with a P2E game and new staking mechanics.
Sponge launched on Polygon on Feb. 9, up 203% during the last week. But the price shows no signs of slowing down, displaying a steady incline and pumping 36% on Feb. 17.
Sponge V1 is an Ethereum token, but Polygon-based V2 enables faster and lower-cost transactions, which is ideal for a broader market appeal.
$SPONGEV2 is a utility token for the P2E game, providing an additional demand stream that could offset the volatility common in meme coins.
Sponge V2 holders can also compound their investment by depositing it in the project’s staking dashboard. They can earn a whopping 1,164% APY, which will decrease as more tokens are staked.
Over $10 million worth of Sponge has already been staked, displaying the community’s deep-rooted support for this next-generation meme coin.
Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
