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The investments of high-profile crypto entrepreneurs are followed in the industry because they can sometimes lead to small investors. Some high-profile participants are turning to meme coins. Meme coins are a sector that has proven itself as a preferred area for investors looking for eye-catching returns, especially in 2023.
According to data from crypto security firm PeckShield, 6 thousand 166 ETH were transferred from the Binance exchange to a wallet thought to be associated with Justin Sun. At current prices, the value of the ETH transfer is $14.7 million.
With this news, Tron founder Justin Sun fueled rumors that the Sponge network may be preparing to invest in its new meme coin, Sponge V2 (SPONGEV2).
Justin Sun announced in recent months that he wanted to buy interesting meme coins. He shared that he would start “trading meme coins and promising projects” on X in May.
According to the information on Etherscan, a wallet address labeled ‘Justin Sun 4’ holds $530 million worth of crypto, and this is where SPONGE is held. Justin Sun holds 108 million SPONGE tokens worth 43 thousand 246 dollars. This makes him the eleventh largest SPONGE investor.
With the original Sponge (SPONGE) surging over 150 percent this week, crypto investors are now wondering whether the upgraded version can surpass these gains when it lists on the public market.
At this point, purchasing Sponge Token V2 appears as an opportunity that investors can consider. Let’s take a closer look at the details of this meme coin.
Sponge V2 (SPONGEV2) – Meme Coin that Tron Founder Justin Sun Sees as a Return Opportunity
With his investment actions, Justin Sun shows that tokens such as SPONGEV2 will be his target. Sponge token, the first version of the network, managed to create a major crypto wave in 2023. Some investors have made good returns from this coin.
Wanting to continue this success, the team designed a new coin called SPONGEV2. This coin, which we can call another version of the same network, also has some improvements. For example, it will offer its users a play-to-win game. This will make it a beneficial meme coin. As it is known, meme coins are generally designed for entertainment purposes and as coins that do not have any benefit relationship.
SPONGEV2, an ERC-20 token built on Ethereum, is an innovative mechanism stake-to-bridge With its installation, it also enables the purchase of V1, another coin in the Sponge ecosystem. Thus, interest in the platform is growing even more.
Sponge V2 Attracts Attention With Its Staking Rates
Existing SPONGE holders can stake their Sponge tokens to obtain SPONGEV2, while new buyers can automatically enter the staking pool. Those who want to purchase Sponge Token V2 can exchange their Ethereum (ETH) or USDT.
There is great interest in this setup, with the SPONGEV2 staking return currently set at 593 percent annually. This suggests that assuming returns occur at this level, stakers have the potential to earn much more of their investment within the first year.
With such staking incentives on offer, it’s no surprise that investors are flocking to get in early when returns are this high. In addition, Sponge V2 is launched as a rival to meme coins such as PEPE, which bring great profits to its investors.
Moreover, with the momentum from the original SPONGE, there is growing belief that SPONGEV2 could experience a significant price increase once listed on public exchanges.
Roadmap and Future Expectations
Sponge V2’s roadmap is ambitious. To increase Sponge V2 owners as much as possible. First, it wants to reach 10 thousand owners. According to data from Etherscan.io, there are currently more than 11,800 SPONGE owners worldwide. The SPONGEV2 version can also benefit from this acceptance in the crypto world.
Additionally, the team is targeting Tier 1 CEX listings and a market cap of $100 million for V2. Thus, the coin will also have more social dominance in the markets. The integration of play-to-earn feature (P2E) and special staking mechanisms make it a prominent project in the meme coin space.
Launch phases include developing the Sponge game and requesting and listing Sponge V2. According to the team, Sponge V2 is not just a sequel to the V1 version; It will be a reinvention focused on utility and community engagement.
Sponge Token V2 purchase excites investors with this detailed road map. You can stay informed about Sponge V2’s journey through social channels. Thus, you witness the growth of the coin in the crypto world.
Conclusion
The Sponge team has created Sponge V2, a version that can offer similarly high returns just like the SPONGE coin. This meme coin stands out with its utility-based features.
The decentralized blockchain has also attracted high-profile crypto investors such as Tron founder Justin Sun. With this news, there may be an increase in the number of people who want to buy Sponge V2 tokens in the last days of the year.