Sponge Token V2, found in TRON founder Justin Sun’s wallet, was on the whales’ radar.
Meme coins remain one of the most popular investments in the cryptocurrency world, and some are booming, offering huge profits. Cryptocurrencies like Bonk not only managed to rise rapidly, but also saw increases of up to 1000 to 10 thousand percent in a matter of weeks.
The next meme coin that shows potential according to many analysts is Sponge Token V2. As you may remember, the meme coin Sponge caused a storm in the spring of 2023. The upgraded version of this meme coin claims to have come to multiply this successful work in the industry. So much so that Justin Sun, founder of the Tron blockchain and Poloniex exchange, which owns a significant portion of SPONGE and emerged as one of the whales expected to transform it into Sponge Token V2.
Sun recently pulled $14 million from crypto exchange Binance, while SPONGE saw an impressive 190 percent increase in just six days. Analysis of wallets associated with the famous crypto visionary shows that innovative tokens such as SPONGE, which is currently undergoing an update to become a gaming platform, are the focus of his investment strategy. For this reason, many investors Buy Sponge Token V2 waiting for.
What is Sponge V2 and Why is it a Promising Investment?
Sponge is one of the popular meme coins that had an excellent debut in 2023 and offered 100x returns to its investors. Now, the project is set to repeat this successful run with an upgraded Sponge V2 version that claims to be even more profitable.
In fact, the main indicators of the success of the project are some wallets of the owners, which take a large share in the overall availability. In particular, as we mentioned above, Justin Sun’s wallet is one of the standouts and ranks 11th with the largest investors in Sponge V1. This wallet contains 108 million SPONGE V1 worth 43 thousand 246 dollars.
How Does Sponge V2 Work?
Sponge was one of the best-performing cryptocurrencies of 2023. Starting with a capitalization of around a million dollars, it has skyrocketed to a market cap of $100 million. This meant a huge profit for the early investors. Sponge, who was at the top, had more than 13 thousand owners and more than 30 thousand followers on social media.
Immediately after its launch, Sponge managed to secure listings on a number of leading crypto exchanges, both centralized and decentralized. Leading exchanges such as Uniswap, Gate.io, MEXC, OKX are some of them. This has understandably led to daily trading volumes in the hundreds of millions of dollars.
This means early investors can still get first mover advantage. However, everyone secures the same price. However, after the stake-to-bridge phase ends, SPONGEV2 will likely be listed on crypto exchanges at a higher price point.
Simply put, many analysts believe that Sponge V2 will repeat the success of the original Sponge V1. Some commentators argue that returns could be even greater given the strong sentiment on Bitcoin and other cryptocurrencies right now. Even recently Sponge’s price has shown a renewed increase due to the launch of the bet and its future prospects.
During this period, the total value of all cryptocurrencies was 1.1 trillion dollars. Today, this figure is almost 1.6 trillion dollars. So there is a lot more capital flowing into cryptocurrencies. In addition, although meme coins have little to no use, they remain very popular among crypto investors.
Sponge V2 Defies Convention
It is known that the best meme coins usually run a pre-sale campaign. In this way, funds are collected from investors before the tokens are released on crypto exchanges. Sponge V2 has opted against a traditional pre-sale. With the bridging approach that the team calls bridge-to-stake Buying Sponge Token V2 The only way is to stake and bridge V1 tokens.
It coincides with the broader rally in cryptocurrencies, with Bitcoin ETF approvals and the next halving event expected in early 2024. This means Sponge V2 has been released at the perfect time. The whitepaper of the project states that the tokens will be listed on exchanges at the beginning of the bull cycle.
Based on this, Sponge owners can visit the official website of the project and lock their cryptocurrencies into the staking contract. This will not only provide them with rewards for the next 4 years but also equal amounts Buying Sponge Token V2that is, it will also provide the opportunity to obtain.
Sponge V2 Play and Win Game
Although Sponge V2 has no intrinsic value, it does create a use case for project tokens. In summary, Sponge V2 launches a win-win game. Users can earn more tokens by purchasing credits with SPONGEV2.
There will also be a free version of this game, but players will not be able to win SPONGEV2. Ultimately, the play-to-win game will help Sponge V2 grow its community of token holders.
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