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The meme coin market witnessed a poor start in 2024, but not all meme coins faced a selloff, with the $SPONGE token price exploding over 108% in the past week.
In May 2023, the Sponge token emerged onto the cryptocurrency scene, rapidly achieving a market capitalization of nearly $100 million within days. During its initial surge, $SPONGE secured listings on 10 centralized crypto exchanges, including MEXC, Poloniex, LBank, Bitget, among others.
By May 9, the token had reached its all-time high of $0.001061. While like many meme coins, the price of $SPONGE experienced a significant decline from its peak, it retained its popularity unlike others in its category.
With over 13,000 token holders, Sponge’s official Telegram channel witnessed a surge in new members, engaging in active discussions about the token’s potential.
The Transition to Sponge V2 with Enhanced Security and Staking Rewards
The resurgence of interest in the original Sponge token is primarily driven by the imminent release of Sponge V2. The Sponge team has introduced a novel staking structure, rewarding holders of the original token with $SPONGEV2 upon its launch.
Sponge V2 aims to expand on the viral success of its predecessor by integrating real-world utility features. Recently, the Sponge team announced the discontinuation of Sponge V1 to expedite its transition to the $SPONGEV2 Polygon version, prompted by the need for enhanced security and efficiency following malicious attacks on its liquidity pool.
With the move to Polygon, $SPONGEV2 tokens will gain access to a robust network known for its scalability and low transaction costs. New investors can purchase and stake Sponge V2 from the spongetoken.vip website, with tokens being locked and earning additional staking rewards until the campaign concludes.
Investors stand to earn passive income through the Sponge V2 staking option, boasting an impressive 195% annual percentage yield (APY). At present, over 8 billion $SPONGE tokens have already been staked. Sponge V2 is poised to be the next 100x investment, building upon the success of its predecessor.
With a solid social media following and increased coverage in the crypto media, $SPONGEV2 is positioned to compete with the leading meme coins in 2024.
To stay informed about the latest updates on the Sponge token, watch the video above and subscribe to his YouTube channel for additional crypt content. Jacob Crypto Bury also runs a Discord server with 20,000 members, offering valuable trading insights and updates on upcoming crypto presales.
Sponge V2 Play-to-Earn Platform – Driving Long-Term Sustainability
Sponge V2 is geared towards achieving long-term sustainability through the introduction of a play-to-earn (P2E) gaming platform. The team is set to launch Sponge Racer, a game offering both free and paid versions, where players can earn token rewards by participating in races.
To access the paid version, users will purchase credits using $SPONGEV2 tokens. This paid version will include a worldwide leaderboard, providing players with opportunities to earn extra $SPONGEV2 tokens.
Don't be stupid. Absord the damp 🧽$SPONGE #SpongeV2 #Crypto #Alts pic.twitter.com/uDm7qPo2rc
— $SPONGE (@spongeoneth) February 14, 2024
The integration of token utility ensures that its value is directly influenced by platform activity, distinguishing it from its predecessor and other meme coins primarily driven by hype and speculation. Checkout our Sponge v2 price prediction in 2024.
With a total supply of 150 billion $SPONGEV2 tokens, the team has allocated 26.93% for bridging $SPONGE, 43.09% for staking rewards, 10% for centralized exchange (CEX) liquidity, 7.5% for marketing, 8% for play-to-earn rewards, and 4.47% for game development. To acquire $SPONGEV2 token visit spongetoken.vip.
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