Sponge (SPONGE) Price and Market Stats

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Cryptocurrency enthusiasts are increasingly turning their attention to niche tokens on decentralized networks, and one such digital asset generating curiosity is Sponge (SPONGE). Built on the Binance Smart Chain (BSC) as a BEP-20 token, SPONGE has attracted a small but active community. While not listed on major centralized exchanges, it trades across decentralized platforms, primarily PancakeSwap. This comprehensive overview explores the current market data, technical structure, holder distribution, and investment considerations surrounding SPONGE.

Understanding Sponge (SPONGE) on Binance Smart Chain

Sponge (SPONGE) is a utility token deployed on the Binance Smart Chain, operating under the BEP-20 standard. Unlike traditional cryptocurrencies with unique blockchains, SPONGE functions as a token within BSC’s ecosystem, leveraging its speed and low transaction fees.

Despite its cartoonish name—likely inspired by pop culture—the token operates within the decentralized finance (DeFi) landscape, where users can trade, hold, or speculate on its value through automated market makers.

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Current Market Performance and Key Metrics

As of the latest data, SPONGE exhibits characteristics typical of low-cap, speculative tokens. Its market activity remains limited but observable.

The extremely low trading volume relative to market cap suggests minimal investor interest or potential liquidity constraints. With no recorded 24-hour high or low prices, price discovery appears stagnant, indicating a lack of active trading momentum.

Holder Distribution and Token Concentration

One of the most critical factors in assessing a cryptocurrency’s decentralization and risk profile is its holder distribution. For SPONGE, the data reveals a highly concentrated ownership structure.

A total of 19 token holders are recorded on-chain, with a few wallets controlling the vast majority of the supply:

Such centralization poses significant risks, including potential price manipulation or sudden sell-offs that could destabilize the market.

Where to Buy and Trade SPONGE

Sponge (SPONGE) is not available on major exchanges like Binance, Coinbase, or Kraken. Instead, it is traded exclusively on decentralized exchanges (DEXs), with PancakeSwap (v2) being the most active marketplace.

Popular DEX platforms supporting SPONGE swaps include:

To purchase SPONGE, users typically need:

  1. A compatible crypto wallet (e.g., MetaMask, Trust Wallet)
  2. BNB tokens for gas fees
  3. Connection to a BSC-enabled DEX
  4. Manual input of the SPONGE contract address to avoid scams

👉 Learn how to safely swap tokens on decentralized platforms with step-by-step guidance.

Wallet Support and Security Considerations

Since SPONGE is a BEP-20 token, it is supported by any wallet that integrates with the Binance Smart Chain. Recommended wallets include:

Always verify the smart contract address before adding the token to your wallet:
Contract Address: 0xEDa28E4d4d89Bb3388B4Bb649b1988D870100eF9

Given the prevalence of scam tokens with similar names (e.g., SpongeMusk, SpongeBob Squarepants), ensuring authenticity is crucial.

Frequently Asked Questions (FAQs)

What is the current price of Sponge (SPONGE)?

The current price of one SPONGE token is approximately $0.00002003, with negligible price movement over the past 24 hours and seven days.

How can I buy Sponge (SPONGE)?

You can buy SPONGE on decentralized exchanges like PancakeSwap (v2). Connect your wallet, ensure you have BNB for gas, and input the correct contract address to execute the trade.

Is Sponge (SPONGE) a safe investment?

SPONGE carries high risk due to extremely low liquidity, minimal trading volume, and concentrated ownership. It lacks audits and transparent development activity, making it unsuitable for risk-averse investors.

What is the total supply of SPONGE?

The total supply of Sponge (SPONGE) is fixed at 100,000,000 tokens, all of which are currently in circulation.

On which blockchains is SPONGE available?

While primarily on Binance Smart Chain (BSC), variants of SPONGE exist on other networks like Ethereum, Arbitrum, and Base. Always confirm the correct contract address for your chosen chain.

Does SPONGE have a verified smart contract?

The SPONGE contract on BSC has not been publicly audited by major blockchain security firms. Users should exercise caution and conduct independent verification before interacting with the contract.

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Final Thoughts: Proceed with Caution

Sponge (SPONGE) exemplifies the volatile and speculative nature of micro-cap cryptocurrencies. While its low price may appear attractive for speculative trading, the lack of volume, transparency, and decentralization raises serious concerns.

For investors interested in emerging DeFi tokens, thorough due diligence—including reviewing contract code, liquidity sources, and community engagement—is essential. Tools like blockchain explorers (e.g., BscScan) and decentralized analytics platforms can help assess legitimacy.

As always in crypto, never invest more than you can afford to lose, especially in assets with unclear fundamentals or developer backing.

Core Keywords: Sponge SPONGE price, BEP-20 token, Binance Smart Chain, decentralized exchange, low market cap crypto, crypto holder distribution, PancakeSwap trading