In late 2023, BONK, a meme coin, became very popular in the crypto world after it gained over 100% in a single day following its listing on Binance in mid-December.

It achieved an all-time high of $0.00003128 as capital flowed into the canine-themed token.

However, the coin's value then entered a significant depreciation phase, losing more than half of its value.

The question now is whether another cryptocurrency, Sponge V2, would mirror BONK's performance.