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Retail investors are flocking to low-cost trading on Polygon, and now Polygon meme coins are poised for dramatic value accrual – but what’s the hype behind the Spongebob themed token leading the charge?
The Polygon chain has been quiet recently, with all of the hype on shiny, newer networks such as Base chain.
But fade Polygon at your own peril. Although it may not be Solana, known as meme coin paradise, Polygon is an established L1 with huge backing and over $11b TVL (Total Value Locked) on-chain – it has also be chosen to support OKX’s BASE rival ‘X layer’.
Base and Solana are so heavily congested amid meme coin fever, with dozens of tickers created every minute.
The native token on Polygon, MATIC is a top 20 coin across the whole market with a market cap of over $7Bn.
It is available on every Tier 1 CEX, including Binance and Coinbase, and processes over $300m per day in volume across all CEXs and DEXs it is available on.
Like Avalanche, Polygon has a dedicated community that will ape and support funny and engaging meme coin tokens that launch on their chain.
Polygon Meme Coin #1 – Spongebob (SPONGE) – MATIC’s Meme Coin Juggernaut
What more proof do you need that everybody loves Spongebob other than a meme coin related to the infamous yellow sponge on Polygon boasting over 50,000 holders and a market cap of over $250m?
This is version 2 of the original Spongebob token that went over 100x in 2023 to hit a $100m market cap, and things have already double-down for an explosive performance in 2024.
The team has improved on the original SPONGE by including a staking protocol that currently offers over 350% for staking your SPONGE tokens, which is an insane return for staking APR.
Holders of Spongebob clearly agree as there is currently $17m worth of SPONGE staked and earning these crazy rewards.
With the whole market bleeding due to the performance of Bitcoin, Spongebob is -55% down from its all-time high back in the beginning of March 2024.
This represents a great risk/reward ratio for any potential investor, which is enhanced even further when considering the returns on offer from staking your SPONGE.
You can buy Spongebob directly and pay with ETH, MATIC, USDT, or even your bank card.
Another cool feature about buying this way is that when you buy, they will automatically begin staking your SPONGE tokens, so you don’t have to mess around with it.
So, within a few clicks, you can kick back and begin earning your staking rewards while you wait for the market to recover and Spongebob to moon.
Polygon Meme Coin #2 – Culo (CULO) – Next 100x Memecoin on Polygon?
(CULOUSD)
This is a riskier degen meme coin on Polygon. Culo is a Spanish word that translates to butt in English.
This community refers to themselves as ‘Culo Experts’, and I’m sure you can imagine the type of meme content the team and community produce for this token.
They have a true degen community, with over 44,000 holders and they market themselves incredibly well.
Everything they do is hilarious and organic, and they’ve also had shoutouts from many celebrities, including former NFL player Warren Sapp.
Aside from regularly going viral on X with hilarious memes and content, the team has also created a game for their Telegram community and built an AI Contract Scanner.
The team clearly has big plans, and although Culo is down 80% from its all-time high back in March, don’t count this community out from an insane reversal once on-chain volume starts to recover.
EXPLORE: $5 Billion Worth Of Bitcoin Shorts Will Be Liquidated If BTC Rockets Above $75,000
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital
