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Oscar Ramos offers his honest insights on this new meme coin, expressing bullish sentiment on account of its outstanding surge of over 200% in worth.
Large buyers are gathering Sponge token (SPONGEV2) in hopes of it getting listed on prime exchanges quickly. Sponge’s worth evaluation hints at important worth adjustments 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 might it replicate the success of $SPONGEV1?
Sponge V1 burst onto the scene in the course of the robust instances of the Could 2023 bear market. This truthful launch token gained instantaneous reputation amongst meme coin lovers, because of its catchy title that introduced again nostalgic reminiscences.
In a outstanding flip of occasions, Sponge V1 rapidly turned one of many standout meme coin launches of the yr. Its market cap soared to over $100 million, attracting a neighborhood 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 massive funding transfer.
Sponge V2 took a singular method 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 progressive “stake-to-bridge” characteristic as its basis. This permits for a easy transition and staking of Sponge for Sponge V2 on the Polygon community.
The undertaking has gained important momentum, with over 9 billion $SPONGE tokens staked, surpassing the $30 million mark throughout the Staked and Bridged platforms. Moreover, Sponge V2 gives spectacular APY charges, exceeding 430% on Polygon and 170% on Ethereum.
$SPONGE worth evaluation – Is a 100x repeat doable?
As of now, $SPONGEV2 is buying and selling at $0.0033, displaying a lower of -15% over the previous 7 days. This decline follows a latest peak on March 9, when the value 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 goal to surpass the resistance degree at $0.0036.
The diluted market capitalization of $SPONGE is $133 million, whereas the whole 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 the moment in a bullish buying and selling channel and is predicted to rebound quickly, particularly with main change listings on the horizon. With an entry level at $1.1 million, this undertaking may doubtlessly yield a big return, probably as much as 100x primarily based on historic market caps, based on crypto whales.
To realize perception into the potential of this new undertaking, try our worth prediction for Sponge V2.
Sponge V2’s potential to spice up ecosystem with Play-to-Earn initiative
The Sponge V2 group is creating a singular Play-to-Earn (P2E) sport, including an thrilling new characteristic to the token. Gamers can earn $SPONGEV2 tokens by taking part in 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 sport credit for further earnings. Whereas the anticipated Play-to-Earn sport from Sponge just isn’t but obtainable, indicators from the group counsel that growth has moved past the starting stage.
Providing each free and paid variations, customers can play for enjoyment or use Sponge V2 tokens to purchase sport credit for extra passive earnings. This upcoming Play-to-Earn sport is predicted to play a big function in increasing the token’s utility, contributing to the undertaking’s progress.
These developments are a part of a broader technique aimed toward boosting the momentum of the $SPONGEV2 token, following traits seen in different profitable tokens. To amass $SPONGEV2 token go to spongetoken.vip.
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