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Minu is up 12% in the last day, outperforming other meme coins up just 1-2%. However, another alternative is Sponge. It is up 34% after launching Sponge V2 on Polygon.
Minu rally triggers Binance listing talks
As a BNB chain native cryptocurrency, Minu’s recent performance puts it in contention for a Binance listing. The platform is known to favor BNB chain-native tokens, aiming to incentivize innovation and development.
After launching last month, Minu got off to a wildly successful start, currently up over 8,500% since 20 January 2024.
These returns resemble an early Dogecoin or Shiba Inu, but the highly volatile nature of meme coins means these gains could be wiped out as fast as they were made.
Following its launch, Minu pumped to $0.0000004230 before a two-week pullback, reaching lows of $0.000000085. Later, the coin roared.
The price reached an all-time high (ATH) of $0.000001514 earlier today, and despite a sharp pullback since, it has begun climbing again.
While it remains to be seen whether Minu’s run can continue, its recent uptick has maxed out its Fibonacci retracement levels, indicating a consolidation period may follow.
Nevertheless, with a market cap of $7 million and accelerating notoriety, the market may behave irrationally, enabling Minu to continue its run.
This possibility is enhanced by community talks that a Binance listing may be on the horizon.
Yet, having already pumped significantly, traders must remain aware that Minu is due a cooling-off period.
With this in mind, Sponge is one alternative that shows potential.
Sponge rallies as team nod to P2E game
When Sponge bridged from V1 to V2, it switched to Polygon, ensuring lower fees and faster trade execution times for users.
But what’s more, it also planned to release a P2E racing game and new staking mechanics, bolstering the token’s utility.
The team published a post hinting at new P2E developments yesterday, followed by a 2% uptick in price.
Sponge’s newfound utility and launch on Polygon prompted bullish predictions from analysts.
The project’s track record validates this forecast. Sponge V1 launched in May 2023, and quickly soared to a $100 million market cap and netted early investors a 100x ROI.
It also amassed 13K holders, 30K social media followers, and listings on over 10 exchanges.
As well as illustrating the team’s marketing prowess, its track record hints to massive potential for Sponge V2. As per the Sponge V2 website, the project targets “bigger and better exchanges”.
Investors can buy Sponge V2 from Uniswap or bridge and stake their Ethereum Sponge to Polygon on the project’s website.
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