Meme coin season is back, with Solana-based token Honk (HONK) pumping 30% in the last few hours.
The SpongeBob-themed meme coin Sponge (SPONGE) has also seen impressive growth recently as it gears up to launch its V2 token in the coming weeks.
HONK Price & Trading Volumes Soar After Key Exchange Listing
Honk’s parabolic rise over the past 12 hours has seen the coin rebound after a period of sustained bearish pressure.
Trading volumes on spot exchanges have correspondingly jumped 24% to $7.5 million as interest and hype around the coin intensifies.
This latest pump comes on the back of Honk getting listed on the top exchange LBank on January 26.
Although the listing was met with a wave of profit-taking, it has added a level of legitimacy to HONK, as well as accessibility for many investors who were unable to buy the token through Solana-based DEXs.
Additionally, unconfirmed reports suggest further exchange listings may also be in the pipeline for HONK, which could be helping the ongoing price rise.
With over 7,100 holders now and more being added every day, HONK is seeing gradual adoption even as it cements its breakout status in the crypto community.
While its long-term fundamentals remain uncertain, the developers seem to have timed HONK’s launch perfectly.
Goose-Themed Meme Coin Honk Makes Waves on Solana
For those unaware, HONK is a new meme coin that pays homage to the viral “Untitled Goose Game” meme that took the internet by storm a few years ago.
The game features a troublesome goose with a penchant for mischief, which resonated with meme lovers worldwide.
HONK aims to capture this lighthearted spirit and bring it to the Solana blockchain.
Given that the token is hosted on Solana, it benefits from the speed and low fees of the network – giving it an advantage over meme coins on costlier blockchains like Ethereum.
HONK also appeals due to its clever tokenomics, which include 0% taxes and a burnt liquidity pool.
The developers have also dubbed it the “Bonk killer” in reference to the popular Bonk (BONK) token, which surged throughout November and December.
But, like most meme coins, HONK has no use case, and its value is solely driven by market demand and community sentiment.
As such, many crypto commentators believe HONK’s bullishness might only be temporary, given the volatile nature of low-cap meme coins.
Sponge Token Gearing Up for V2 Release & Play-to-Earn Game Integration
While HONK has stolen most of the spotlight recently, fellow meme coin SPONGE has also made moves.
The SPONGE token has seen resurgent interest and trading volumes thanks to the hype surrounding the upcoming launch of Sponge V2 (SPONGEV2).
Sponge V2 represents the “next evolution” of the popular SpongeBob-themed meme coin.
Building on the successes of the original token, Sponge V2 will be integrated into an upcoming play-to-earn (P2E) racing game featuring SpongeBob characters.
This Web3 gaming angle has generated enormous buzz amongst the token’s established community on Telegram, along with SpongeBob fans in general.
Currently, the only way to access SPONGEV2 before the token’s market debut is through a stake-to-bridge mechanism offered only to SPONGE holders.
Holders must lock up their SPONGE permanently to receive SPONGEV2 following its official launch.
This innovative staking feature has led to a flurry of anticipation, with prominent YouTube influencers like Crypto Gains posting videos about the token.
Ultimately, the combined hype over the P2E game and the bridge to V2 has seen the original SPONGE token’s price surge 52% in the past month.
With the broader meme coin space charging upwards, evidenced by the impressive performance of HONK, investors may wish to keep an eye on SPONGEV2 as it gears up to hit the open market.