The memcoin season is still alive
SpongeBob SquarePants Square (SPONGS) coin has risen in price by 5000% in a day. It is traded only on DEX, for example - PancakeSwap, and is a copy of other memcoins that live off the commission charged. She goes to charity and the needs of the project.
The SPONGS coin suddenly became the most popular and profitable coin of the day according to CoinMarketCap, having risen in price by 5000% of coins in less than a day.
Probably, the popularity of cryptocurrency is associated with the nostalgia of many modern investors for their irrevocably gone youth, when watching the animated series of the same name caused them positive emotions.
Note that the release of the series has not stopped since 1999, and many frames of the film have become real memes. This also explains the deafening success of the cryptocurrency. The coin was noticed by people who are not afraid to invest in a cryptocurrency meme.
These investors are most likely hoping that the coin will become the next Dogecoin (DOGE) and Shiba Inu (SHIB). Let's see if these hopes come true in the future.