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ZKGROK Surges 130x in One Day; Emerging SPONGEV2 Poised to Capitalize

ZKGROK’s meteoric rise dwarfs previous expectations

The ZKSync-based ZKGROK token ($ZKGROK) skyrocketed some 130 times in value over the last 24 hours, caught up in the broader enthusiasm for meme coins and layer-2 solutions. However, early investors appear to be taking profits, and the spotlight is now shifting to SPONGEV2, an upcoming meme coin with promises of novel features.

$ZKGROK currently ranks #3 on DEXtool’s list of hot token pairs (https://www.dextools.io/app/en/zksync/pair-explorer/0x1ac99c1ff8dfff31955bd3628ef14ace69200ebd), spurred by momentum from GROK – a meme coin that saw massive gains last November. At a current price of $0.0000891, $ZKGROK has climbed 6.78% in the past 24 hours.

Shortly after launching, $ZKGROK’s price skyrocketed by an eye-popping +3,797% in just two hours, followed by a steady upward trajectory. The token’s market cap ballooned to an unusual $8.91 million for a coin of its type. While similar tokens typically stall around the $5 million mark, $ZKGROK’s lofty valuation indicates limited room for further growth.

Retracement appears likely for $ZKGROK as attention shifts to SPONGEV2

While 85% of $ZKGROK transactions reflect purchase volume – a sign of strong buying pressure – the token’s $442k liquidity pool remains unlocked, representing risks for traders https://twitter.com/zkgrok?ref_src=twsrc%5Etfw. All told, a retracement for $ZKGROK appears more probable than further upside in the near term.

Instead, attention is shifting to SPONGEV2 (https://twitter.com/memecoin_labs?ref_src=twsrc%5Etfw), a new meme coin set to launch following the success of Sponge V1. SPONGEV2 can be acquired by staking Sponge V1 tokens – with longer and larger stakes yielding more V2 tokens.

Beyond functionality carried over from V1, SPONGEV2 introduces a Play-to-Earn game for added utility. Meanwhile, staking SPONGE provides passive income of at least 40% APY. With Sponge V1 stakes locked permanently, SPONGEV2 seeks 10,000+ token holders, Tier 1 exchange listings, and a $100 million market cap. Its community-centric strategy marks a departure…

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