Cryptocurrencies launched on decentralized exchanges (DEX) have been gaining significant attention in recent months. These explosive token moves, also known as moon-shots, have generated tremendous hype and profits for investors. Among the popular moon-shots are APX, SAMBO Bot, BabyGROK, TIME, ZKGROK, and IO.
In this trend, Micro Coq (MICRO) token has emerged as the latest contender for the moon-shot status. With a staggering rally of over 3,000%, Micro Coq has captured the attention of many investors. However, the question remains: Could this new meme coin be the next big thing?
Micro Coq’s popularity can be attributed to the attention it has received from influencers. Shot-callers seeking quick pumps for their audiences have turned to MICRO as a preferred coin. This influencer attention has fueled the substantial gains witnessed by Micro Coq.
Currently, Micro Coq token is trading at a market price of $0.000000025558690759635677, representing a 24-hour change of +206%. This comes after a meteoric rise of 3,000% from lower support at $0.00000000875, which saw MICRO reach an all-time high of $0.000000074. However, the token is now experiencing a major retracement, with a -67% decline. This retracement allows early backers to secure significant profits.
To gauge MICRO’s future prospects, attention must be turned to transactions and price sentiment. Over the past 6 hours, the number of sell transactions has increased, although buy-pressure remains dominant, constituting 55% of transactions. This shows that despite the retracement, there is still a considerable amount of buying interest for MICRO.
With a market cap of $1.46 million, MICRO still has room for growth. Comparable AVAX launched tokens have market caps reaching up to $5 million. This indicates that MICRO could potentially offer a 3.5x return if steady buy-pressure can establish a bounce at the lower trendline.
While MICRO may present a late-stage entry opportunity, the cryptocurrency market is witnessing the rise of a new meme coin: Sponge V2. Sponge V2 is the latest iteration of the renowned Sponge ($SPONGE) meme coin, which previously reached a market cap of nearly $100 million and amassed over 13,000 holders.
Sponge V2 brings promising innovations and opportunities for investors. Acquiring Sponge V2 involves staking Sponge V1 tokens. The longer and more V1 tokens you stake, the more V2 tokens you earn. Additionally, Sponge V2 introduces a Play-to-Earn (P2E) utility, allowing users to engage in a game and earn more $SPONGEV2 tokens.
The roadmap for Sponge V2 is ambitious, aiming for 10,000 holders, Tier 1 CEX listings, and a $100 million market cap. With its focus on utility and community engagement, Sponge V2 sets itself apart from other meme coins in the market. The integration of P2E and exclusive staking mechanisms adds value to the project.
It is crucial to note that investing in cryptocurrencies, including meme coins like Micro Coq and Sponge V2, carries inherent risks. The crypto market is highly volatile, and prices can experience wild swings. Investors should conduct thorough research and exercise caution when entering any investment.
As DEX-launched cryptocurrencies continue to capture attention and deliver remarkable gains, Micro Coq has emerged as one of the latest moon-shot contenders. Influencer attention and buy-pressure have contributed to the significant rally experienced by Micro Coq.
While the market retracement poses a challenge, MICRO still has growth potential, considering its relatively low market cap compared to other AVAX launched tokens. It remains to be seen whether MICRO can sustain its upward momentum.
Meanwhile, Sponge V2 presents an alternative investment option for those seeking exposure to meme coins. With its innovative features and roadmap for growth, Sponge V2 aims to make waves in the cryptocurrency market.
Investors should always exercise caution and conduct thorough research before making any investment decisions in the highly volatile crypto market.