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Oscar Ramos offers his honest insights on this new meme coin, expressing bullish sentiment as a result of its exceptional surge of over 200% in worth.
Huge buyers are gathering Sponge token (SPONGEV2) in hopes of it getting listed on high exchanges quickly. Sponge’s worth evaluation hints at vital worth modifications within the upcoming weeks.
This elevated curiosity comes after efficiently transferring the Sponge ecosystem, which concerned relaunching the revered 2023 $SPONGE token on the Polygon community, now referred to as $SPONGEV2.
What’s $SPONGEV2 and may it replicate the success of $SPONGEV1?
Sponge V1 burst onto the scene in the course of the powerful instances of the Might 2023 bear market. This truthful launch token gained on the spot recognition amongst meme coin lovers, due to its catchy identify that introduced again nostalgic reminiscences.
In a exceptional flip of occasions, Sponge V1 rapidly grew to become one of many standout meme coin launches of the yr. Its market cap soared to over $100 million, attracting a group of over 13,000 holders, together with 30,000 followers on social media.
The surge in worth was largely pushed by listings on greater than 10 centralized exchanges, together with LBank, Toobit, CoinW, and others. Now, cryptocurrency whales are eyeing Sponge V2 for his or her subsequent huge funding transfer.
Sponge V2 took a novel strategy to its launch. Early adopters had two choices: both buy Sponge V1 and stake it by means of the Sponge web site or stake present Sponge V1 tokens. The distribution of Sponge V2 tokens occurred primarily based on the quantity and length of V1 tokens staked.
With a give attention to constructing a sturdy ecosystem, Sponge V2 introduces the revolutionary “stake-to-bridge” function as its basis. This enables for a easy transition and staking of Sponge for Sponge V2 on the Polygon community.
The venture has gained vital momentum, with over 9 billion $SPONGE tokens staked, surpassing the $30 million mark throughout the Staked and Bridged platforms. Moreover, Sponge V2 presents spectacular APY charges, exceeding 430% on Polygon and 170% on Ethereum.
$SPONGE worth evaluation – Is a 100x repeat potential?
As of now, $SPONGEV2 is buying and selling at $0.0033, exhibiting a lower of -15% over the previous 7 days. This decline follows a current peak on March 9, when the worth reached $0.0042 earlier than present process a minor retracement of about -26%.
$0.0045 subsequent? 👀🚀 $SPONGE
— $SPONGE (@spongeoneth) March 14, 2024
Presently, $SPONGEV2 is consolidating its place, discovering sturdy assist between $0.0029 and $0.0034 prior to now week. This stability units the stage for a possible upward motion within the close to future. Purchase strain stays excessive, representing 59% of transactions, with the intention to surpass the resistance degree at $0.0036.
The diluted market capitalization of $SPONGE is $133 million, whereas the entire token provide brings the undiluted market cap to $497 million. Liquidity is wholesome within the SPONGE/WMATIC pair, amounting to $1 million.
In abstract, $SPONGEV2 is at present in a bullish buying and selling channel and is predicted to rebound quickly, particularly with main trade listings on the horizon. With an entry level at $1.1 million, this venture may doubtlessly yield a big return, presumably as much as 100x primarily based on historic market caps, based on crypto whales.
To realize perception into the potential of this new venture, take a look at our worth prediction for Sponge V2.
Sponge V2’s potential to spice up ecosystem with Play-to-Earn initiative
The Sponge V2 staff is creating a novel Play-to-Earn (P2E) recreation, including an thrilling new function to the token. Gamers can earn $SPONGEV2 tokens by enjoying the sport and rating on the leaderboard.
The sport could have each free and paid variations, giving customers the choice to play for enjoyable or use $SPONGEV2 tokens to purchase recreation credit for further earnings. Whereas the anticipated Play-to-Earn recreation from Sponge just isn’t but obtainable, indicators from the staff counsel that growth has moved past the strategy planning stage.
Providing each free and paid variations, customers can play for enjoyment or use Sponge V2 tokens to purchase recreation credit for added passive revenue. This upcoming Play-to-Earn recreation is predicted to play a big function in increasing the token’s utility, contributing to the venture’s development.
These developments are a part of a broader technique geared toward boosting the momentum of the $SPONGEV2 token, following developments seen in different profitable tokens. To accumulate $SPONGEV2 token go to spongetoken.vip.
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