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The meme coin reign seems to be going full force again since the SPONGE token surged 84% in the 24-hour period. This token was launched last year and already made an enormous success when it approached the threshold of a $100 million market cap.
Now that an update of this token has appeared and it has implemented the stake-to-bridge concept, the popularity of this token is through the roof! Here is why you shouldn't miss this token with potential like the Pepe token!
Cartoon characters have gained a new purpose among cryptocurrencies. SpongeBob is the beloved character that attracted plenty of attention last year when it appeared in the form of a meme coin. This token is not directly linked to this Nickelodeon series, but it is a wonderful way to pay homage to the character that so many people know and love.
Since its introduction, $SPONGE has experienced an astounding 100x surge, attracting a significant community of more than 13k proud $SPONGE owners and establishing itself as a prominent meme coin in the year 2023. The fact that $SPONGE's price increased by more than 116% in the last seven days shows that this token is just getting started.
The narrative persists with Sponge V2, positioned to outshine its predecessor. This cryptocurrency is embarking on a new phase, indicating an impressive comeback. With an expanded community now consisting of more than 30,000 members and the introduction of an innovative Play-to-Earn (P2E) utility, Sponge V2 is poised to captivate crypto enthusiasts in search of the latest gem to enhance their portfolios!
Following the significant success of $SPONGE, its sequel represents an upgrade by introducing a layer of utility that was absent previously. This time around, investors will have the opportunity to engage in the play-to-earn feature, enjoying a playful experience while earning tokens in the process.
Existing investors in the $SPONGE token can now stake their holdings in the V2 pool, ensuring that when $SPONGEV2 is launched, they can count on their allocated share. The significance of this staking method lies in its long-term potential, as these staked tokens will continue to generate annual percentage yield (APY) over the following four years.
The stake-to-bridge mechanism opens the door for newcomers to explore everything this interesting project offers. At the same time, the owners of the $SPONGE token will surely be happy about the added layer of utility. Considering the popularity of meme coins and the meteoric rise of the Pepe token last year, the potential of $SPONGEV2 is evident, so secure your seat among the investors who have already recognized it!
$SPONGE reached a peak of $0.01214 in 2023 but surpassed that level once it reached $0.001248, establishing a new all-time high, effectively shedding a zero by shifting a decimal point.
To acquire the newly optimized-for-gaming SPONGE V2 token, holders of the original V1 token must stake their holdings, as mentioned previously. Presently, more than 4,3 billion tokens have been deposited into the bridging contract, surpassing the value of $4.5 million.
Upon staking, the tokens will automatically undergo bridging. The specific date of the bridging event is yet to be disclosed, prompting token holders to stay updated through the project's social media channels: X and Telegram.
For those seeking exposure to SPONGE V2 without possessing SPONGE V1, the process involves purchasing the V1 version and subsequently staking it in the bridging contract, as outlined on the Sponge.vip website. From a technical perspective, the breach of resistance at the previous all-time high indicates that the token is poised for further bullish progress, so make sure you prepare in time!
Taking a closer look at the details regarding the project you plan to invest in is a way to see the project's growth potential in the future. One of the most important things regarding the crypto project is certainly the number of tokens that will be in circulation, which is, in this case, 150 billion.
The biggest part of these tokens will be directed towards staking rewards, which will be 43.09%, showing the incredible importance that staking has for the creators of this project. Another portion, 26.93%, will be allocated to bridged $SPONGE, while the remaining tokens will be split among game development (4.47%), marketing (7.50%), play-to-earn rewards (8%), and CEX liquidity (10%).
While the appeal of meme coins typically lies in their humor and the opportunity for investors to unwind from the stresses of crypto investing, $SPONGEV2 takes it a step further. The play-to-earn (P2E) game introduces an additional layer to the entire ecosystem, providing added value that investors will find appealing.
Achieving a high ranking on the leaderboard through skillful gameplay will result in significant satisfaction and rewards in the form of $SPONGEV2 tokens. Players can choose between two versions, with the free version serving as an excellent opportunity to test the game.
In the paid version, game credits can be purchased with the aim of earning even more tokens over time, enhancing the allure of this meme token. Compared to Pepe, which lacks utility, Sponge V2 appears poised to surpass its success this year!
In the dynamic world of cryptocurrencies, meme coins have left a mark, captivating investors' attention without a doubt. Following Pepe's peak last year, Sponge V2 emerged as a potential standout in 2024. Its innovative stake-to-bridge model and the widely embraced play-to-earn concept are poised to sustain investor interest, showing that this appealing project has enormous growth potential. There is no better time than the present to prepare for the upcoming bull run, so don't miss this chance!
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
