Spongbob as a show is steeped in internet culture and the chosen meme for this project is a very popular one with crypto users online.

The key to these projects is a memorable meme that resonates with the crypto community.

Pepe Coin (PEPE) really shook up the whole market and its overnight success has led to countless investors searching for its successor. We think Spongebob Token ($SPONGE) has that potential.

ADA’s price could experience sideways movement and choppy price action until the 2024 Bitcoin halving.

The analyst attributed this newfound attention on Cardano to meme coins.

Dan Gambardello expressed his excitement about the latest wave of Cardano adoption.

This translated to a peak market cap of $63,726,347, representing an astonishing approximately 23,000% increase since its SundaeSwap listing.

SNEK has experienced substantial gains, reaching an all-time high of $0.00083068 on the morning of May 29 (BST).

the token became available to the public through a SundaeSwap listing, with an initial market cap of $275,000.

The presale for Snek concluded on April 28, distributing 50% of the total supply of 76,715,880,000 SNEK tokens to early supporters. Shortly after, the token became available to the public through a SundaeSwap listing, with an initial market cap of $275,000.

The First Cardano Meme Coin Making A Splash With 23,000% Market Cap Growth: Snek

The on-chain analysis platform, Glassnode, recently shared on Twitter that the mean block size of Ethereum (ETH) has reached a new 1-month high, measuring 121,439.928. This surpassed the previous high of 121,327.386, which was observed on 27 May 2023.

Over the past 2 days, ETH’s price had flipped the resistance levels at $1,816.5 and $1,842.6 into support.

the leading altcoin was worth about $1,847.37 after a 0.96% price increase.

BTC performance was also not enough for it to strengthen against its biggest competitor, Ethereum (ETH).

BTC was down 0.56% over the past seven days, and experienced losses of more than 7% over the past month.

Despite BTC’s positive performance throughout the past day, it was not enough to flip the crypto’s weekly or monthly performances back into the green.

BTC was worth about $26,725.02 at press time.

Market makers are entities with a contractual obligation to maintain a healthy level of liquidity on an exchange. They ensure there is enough depth in the order book by offering to buy or sell a call/put option contract at any given time.
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There is another powerful force at work, a so-termed invisible hand of crypto options market makers, partly responsible for keeping prices rangebound, according to observers.
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