HomeTradingCrypto prices and news of SpongeBob (SPONGE), PancakeSwap (CAKE) and AiDoge

Crypto prices and news of SpongeBob (SPONGE), PancakeSwap (CAKE) and AiDoge

What are the latest prices and news involving the crypto assets SpongeBob (SPONGE), PancakeSwap (CAKE) and AiDoge

Below is an overview of their performance and market sentiment. 

Crypto analysis of SpongeBob (SPONGE), PancakeSwap (CAKE) and AiDoge 

As a reminder, PancakeSwap is a decentralized exchange (DEX) that operates under the Automatic Market Maker (AMM) model. Because of this, its users can exchange tokens in a completely decentralized manner, as liquidity pools are generated to enable them. 

AiDoge, on the other hand, is a crypto project that focuses on creating memes using artificial intelligence (AI). The main idea is to generate creative and relevant memes that follow trends in the cryptocurrency world.

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

Focus on the price of SPONGE crypto: the comparison with CAKE and AiDoge 

Based on the data, we see that the last time the Pepe meme coin pumped, people who had invested in the SPONGE token saw considerably more significant gains. 

As anticipated, SPONGE was launched on 4 May at $0.000073 and in three days it reached an all-time high (ATH) of $0.002394. This increase was equivalent to a +3179.45%. 

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Price and statistics of SPONGE

The price of SPONGE is currently about $0.0005815, with a fully diluted market capitalization of $23.4 million. We see that, so far, SPONGE has followed Pepe, rebounding from its lows and rising 13% in recent weeks. 

Moreover, with Pepe already up more than 50%, we see an opportunity for investors to shift their recent Pepe gains into coins with greater upside potential, such as SPONGE.

In addition, we understand that the SPONGE token website recently updated its roadmap, which revolves around generating hype and building its community. 

One of the ultimate goals on the roadmap is to obtain a listing on a top-tier exchange. Considering Pepe’s price, the Binance platform may be the one they are alluding to.

In any case, one reason SPONGE has done so well so far may be the project’s rapidly growing social media presence, gaining over 39K Twitter followers in less than ten days. 

Hence, with such a following and proven pumping success in the past, SPONGE could follow Pepe’s example and see big gains once again.

Will AiDoge be the future of meme coins? 

The newest AiDoge meme coin has gotten some serious attention, given its cutting-edge blend of Doge-style aesthetics and artificial intelligence (AI) technology.

Indeed, AiDoge has caused a stir during its ongoing pre-sale phase, raising an impressive $12.7 million in less than a month, a testament to its appeal even before it reaches the broader market.

Like Shanghai Inu, AiDoge has capitalized on the enormous appeal of Doge-inspired meme coins. However, it also introduces its own innovative features that could fuel its rise once it is listed on major exchanges.

According to AiDoge’s whitepaper, the project’s distinguishing feature is its artificial intelligence-based meme generator, which is set to become a revolutionary tool in the social media landscape.

This meme generator harnesses the power of artificial intelligence, enabling users to create unique, trending and funny memes with just a few clicks.

AiDoge’s meme generator works through a series of sophisticated algorithms trained on huge datasets. Those who wish to use AiDoge’s meme generator must purchase credits using AI, AiDoge’s native ERC-20 token.

Given its crucial role in the AiDoge.com ecosystem, the AI token has indeed attracted the interest of several major figures in the crypto space. 

These include YouTuber Crypto Gains, who boasts more than 105,000 subscribers, who recently expressed his bullish sentiment toward the token.  

CAKE will be declining until the market stabilizes 

Based on the latest data, we see that the price of the crypto PancakeSwap (CAKE) suffered a strong bearish momentum after destroying the $3.32 support level. 

After that, the price tried to form support at the $2.60 level and came back to the $2.76 level, which can be seen as a short-term pullback to bring the price down further. 

As a matter of fact, bears dominate and the price of CAKE cannot catch its breath to stop the momentum. Recent support has formed at $1.79 and the current candle has finally been breached. Moreover, bears could push the price below the $1 threshold.

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Daily chart of the price of PancakeSwap (CAKE/USDT)

We also see that PancakeSwap recently burned 8,554,482 CAKE worth over $16 million. A huge burn rate caused an increase in trading fees, up about 190%. 

The increase in trading fees is due to the inclusion of the V3 fee and market maker fee in April. Although trading fees increased, revenue remained unchanged. 

The number of daily transactions and users has decreased dramatically in recent days. PancakeSwap’s position as a top ten cryptocurrency by market capitalization has also declined in recent days. 

Finally, the number of daily active addresses has also declined, indicating lower usage. Negative sentiments are currently dominant in the market. PancakeSwap’s price prediction suggests a decline until the market stabilizes.

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.