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Crypto news: prices and performance of the Floki Inu (FLOKI), Shiba Inu (SHIB) and Spongebob (SPONGE) coins

What is the price trend of the Floki Inu (FLOKI), Shiba Inu (SHIB) and Spongebob (SPONGE) crypto? 

Below you will find an overview of their performance, the latest news and more. 

Analysis of the cryptos Floki Inu (FLOKI), Shiba Inu (SHIB) and Spongebob (SPONGE) 

Remember that Floki Inu (FLOKI) is a trending memecoin as well as another cryptocurrency based on the Shiba Inu dog breed, also made famous thanks to Elon Musk’s backing. 

Shiba Inu (SHIB) is also a decentralised cryptocurrency based on Ethereum. A full-fledged memecoin, it was born in the wake of the success of other ‘dog’ coins.

Finally, Spongebob (SPONGE) is another decentralised memecoin developed on Ethereum. SPONGE, the native crypto in ERC-20 format, was launched on the DEX Uniswap on 4 May 2023. 

Highs and lows for the price of FLOKI crypto, how does it compare to Shiba Inu and SPONGE? 

A few days ago, Floki Inu (FLOKI) became the #1 trending cryptocurrency on CoinMarketCap. This was due to its price movement, which increased by more than 11% in the last seven days. 

Thanks to this growth, FLOKI has re-entered the list of the top 100 cryptocurrencies by market cap and is currently ranked 98th, according to Twitter:

Thanks to the sudden price spike, Floki also became the most traded web3 highlight on the BNB chain in the last 24 hours, reflecting the popularity of memecoin among traders.

However, the spike was short-lived as FLOKI experienced a price correction. In fact, according to CoinMarketCap, the price of FLOKI has fallen by more than 4% in the last 24 hours. 

It is currently trading at $0.00003523 with a market cap of over $341 million. A look at FLOKI’s on-chain metrics gives us an idea of what has gone wrong for the crypto in recent days. 

For example, negative sentiment towards FLOKI increased a few days ago, while its price fell. 

After rising sharply during the bullish trend, Floki Inu’s net growth also fell, suggesting that fewer new portfolios were used to transfer the asset.

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Performance chart of Floki Inu (FLOKI)

Shiba Inu’s Shibarium releases new update 

Unification Foundation, the developer of Shibarium, has recently released a new Puppynet update for the SHIB community. 

The update includes the implementation of two tools, Verified Open Randomness (VOR) and Oracle of Oracles (OoO).

VOR is used to generate true randomness in various applications such as on-chain games, lotteries and generative NFTs. OoO, on the other hand, helps prevent price hacking and provides the best prices for decentralised investment funds.

The main objective of the distribution is to get Oracle applications up and running and to start serving data requests. The Unification Foundation aims to provide members of the SHIB community with the best tools to maximise their returns and net asset value. 

Not surprisingly, Shibarium has been developed to enhance the SHIB ecosystem, and the Unification Foundation is at the forefront of development in this regard. 

The Unification team has also successfully deployed the xFUND test token on the beta testnet, connecting L1 to L2 and successfully transferring xFUND test tokens between the two. 

The next phase involves deploying the OoO and VOR router smart contracts on Shibarium L2 and then activating Oracle applications to fulfil the data requests.

The implementation of these tools is a major step forward for the Shiba Inu community, as it will provide them with more robust and secure options for their investments. 

In summary, the implementation process is ongoing and members of the SHIB community can expect further updates soon.

Sponge crypto news: Pepe’s trading volume also surpassed 

Sponge, the #1 meme coin on Uniswap by trading volume, which was listed on Poloniex a few days ago after its huge growth last week, is now set to be listed on MEXC today. 

Poloniex is the fourth central exchange (CEX) to list SPONGE and is ranked 53rd by trading volume according to CoinMarketCap. 

In addition, the team behind Spongebob hinted that more CEX listings are in the works and could also be announced today. 

It should be noted that the SPONGE token has already cemented a legacy as one of the most successful meme coins of all time. 

In fact, the token was launched on the decentralised exchange Uniswap on Thursday 4th May and was listed on CoinW and Toobit within 48 hours. 

In comparison, PEPE took three weeks to list on its first centralised exchange. As a result of these listings, SPONGE came incredibly close to reaching a market capitalisation of $100 million. 

As a result, it was ranked in the top 275 cryptocurrencies by market cap according to CoinMarketCap data. 

On Uniswap, SPONGE’s 24-hour trading volume exceeded $100 million, far surpassing that of PEPE. 

Excluding WETH, SPONGE was the most traded coin on Uniswap just four days after the token’s launch.

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Furthermore, the trading volume in SPONGE represented one eighth of the total liquidity on the world’s largest decentralised exchange. 

SPONGE has locked up $10.8 million in liquidity on Uniswap, compared to $11.9 million for PEPE, which has a market capitalisation approximately 20 times larger.

Alessia Pannone
Alessia Pannone
Graduated in communication sciences, currently student of the master's degree course in publishing and writing. Writer of articles from an SEO perspective, with care for indexing in search engines.