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Popular meme coins like dogwifhat (WIF) and Bonk (BONK) are down in the past 24 hours. Meanwhile, investors are exploring Sponge V2 (SPONGEV2). 
<h2 class="wp-block-heading" id="strong-wif-retracing-strong">WIF retracing</h2> 
WIF is down to $0.369 as trading volumes shrink in tandem. 
This selloff follows its listing on Binance and KuCoin. 
 You might also like: <a href="https://crypto.news/binance-futures-to-launch-dogwifhat-perpetual-contract/"> Binance Futures to launch Dogwifhat perpetual contract </a> 
Traders are likely taking profits, forcing prices lower. 
<figure class="wp-block-image is-resized">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/QwR12AriOaa-p6XTqurwDN4XVq1aSjOvvpnqe6kBLBaEtmAyGbb9CrPvgRt4dAzoB-7JAmySIYqDEM3kVQGX7t7Xv2YcO_9UJoRXGqDvj5PTKK6NBaPzNxUaxJzismg8RehVr-H3viiOOpUDWgBTG_c" alt="WIF and BONK slide, traders considering alternative meme coin - 8" style="width: 100%;height:auto">
</figure> 
Still, supporters are bullish on WIF. 
The recent listing present a new audience of potential buyers; a move that might support prices. 
Moreover, whales are also accumulating; a net positive. 
<h2 class="wp-block-heading" id="strong-bonk-hype-fading-strong">Bonk hype fading</h2> 
After rallying to $0.0000179, BONK is down by around 34% to $0.0000118. 
Social volume and sentiment have also cooled considerably, with Twitter and Reddit mentions slowing. 
<figure class="wp-block-image is-resized">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/s3RFg-p-87h9WX7_VrBIJ_3FXgIqXgjS2yVEdy4eH3YzAuHbbqSUk_WpMEhBa3lhYyDSfyQozy5vpxk-lcgzVyQxpaVyb0prbKlszBQeER8Yh3mKm2Syxm4KGsgvtSwBGluhfzXBSyDkPEGPcgcXKio" alt="WIF and BONK slide, traders considering alternative meme coin - 9" style="width: 100%;height:auto">
</figure> 
Besides, BONK traders are bearish as most begin taking profits. 
Of all positions, shorts <a href="https://www.coinglass.com/currencies/BONK" target="_blank" rel="noopener">comprise</a> 59%. 
<h2 class="wp-block-heading" id="strong-sponge-v2-s-has-a-unique-proposition-strong">Sponge V2’s has a unique proposition</h2> 
As interest cools in Solana-based meme coins, attention is on <a href="https://bs_0b2c3363.crypto-news.care/?referrer=as-dogwifhat--bonk-prices-continue-to-slide-is-this-new-meme-coin-a-better-buy" target="_blank" rel="noopener">Sponge V2</a>. 
This Ethereum-based meme coin could address some of the limitations that have held back WIF and BONK in the past few days. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/iWHPjotpl2LQGLe8ST-PPiqmf3I4TwXN4xH3GHD1JBSuIRkyRvi-k_2gCRHoXxSvnr14JDKl98CgeT7c580lAgEOKbXPtAij2QWnWfbgPYJY1QwMs1YYid6FasIgVWKrrIqFpFBImL-XOpwRHuEhlds" alt="WIF and BONK slide, traders considering alternative meme coin - 10">
</figure> 
Unlike meme coins relying solely on hype, Sponge V2 is designed as a utility token. 
 You might also like: <a href="https://crypto.news/dogwifthat-and-memecoin-rallying-sponge-hits-4m-in-pre-launch-campaign/"> Dogwifthat and Memecoin rallying, Sponge hits $4m in pre-launch campaign </a> 
This project will include a play-to-earn (P2E) racing game where SPONGEV2 will power in-game rewards. 
By racing and ranking on the leaderboards, players can earn more SPONGEV2, creating an engaging gameplay experience. 
This P2E integration gives SPONGEV2 a unique value proposition compared to no-utility coins like WIF and BONK. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/fSwO_FkuawWp0gy4pqgb5FYhpnF9WmEt1sBMLtSdlkIpQIQ5hSTzqfwtV8GCdwOkMli25t4I1yYFgbsffJOXbSkp35_SrZhOYFY_wWFDzzVY6BRQG3GIpXpTF3itrgbJy-xRNORCumWeG4PN8Qxc3tc" alt="WIF and BONK slide, traders considering alternative meme coin - 11">
</figure> 
Additionally, SPONGEV2 builds upon the existing community behind<a href="https://dexscreener.com/ethereum/0xf935f557e06a7d040dea4691f90c9a755301818b" target="_blank" rel="noopener"> the original Sponge (SPONGE) token</a>. 
SPONGE holders can bridge their tokens to the new SPONGEV2 using a staking portal<a href="https://spongetoken.vip/en/staking" target="_blank" rel="noopener"> that offers rewards of 300% per year</a>.&nbsp;&nbsp; 
With both a P2E gaming setup and a bridge from an established token base, Sponge V2 looks to differentiate itself in the meme coin space. 
 Read more: <a href="https://crypto.news/baby-elon-and-meme-ai-surging-investors-exploring-sponge-v2/"> Baby Elon and Meme Ai surging, investors exploring Sponge V2 </a> 
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WIF and BONK slide, traders considering alternative meme coin

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