Recently, the focus of the cryptocurrency market has been on the SPK project, with many investors comparing it to the success story of PEPE. However, the operational model of SPK is fundamentally different from that of PEPE.

SPK has adopted an innovative dual incentive mechanism: coin deposit rewards plus additional token giveaways. This strategy effectively locks funds on the blockchain, creating scarcity. Recently, SPK's total value locked (TVL) surged by 300%, demonstrating strong interest from institutional and individual investors in the project.

Unlike PEPE, which mainly relies on community hype, SPK is more like a decentralized finance (DeFi) project supported by a solid mechanism. Users can earn returns by depositing coins, and they also have the opportunity to participate in airdrop events. This design not only attracts capital inflow but also effectively reduces the possibility of capital outflow, thereby promoting the continuous rise in token value.

Currently, the price of SPK is $0.096. However, what investors should pay more attention to is its lock-up ratio. If the lock-up ratio exceeds 60%, the number of circulating tokens will significantly decrease, which may lead to the low price of $0.11 disappearing quickly. If the locked amount continues to increase, there may even be investors chasing the high price of $0.35.

The success of SPK largely depends on its collaboration with the Sky protocol. If the cooperation progresses smoothly, the project's prospects are bright; however, if there are delays in the collaboration, it may lead to rapid capital withdrawal, resulting in a decrease in TVL.

It is worth noting that SPK is not merely a concept hype, but a potential project driven by mechanisms. Investors should pay close attention to its locking ratio and TVL, rather than being misled by the label of meme tokens. This investment opportunity is more suitable for those who can understand and grasp the dual mechanism of depositing and giving tokens.

In this rapidly changing encryption currency market, rational analysis and a deep understanding of project mechanisms are particularly important. Investors should act cautiously, conduct thorough research, and make informed investment decisions based on their risk tolerance.