The recent development that Tron inventor Justin Sun has shifted his investment away from Bitcoin and into alternative cryptocurrencies, especially meme coins like SPONGE, adds to the whales’ optimism. While Sun moved 14 million dollars from the Binance market, the price of SPONGE increased by 115 percent in 1 month, according to Coinmarketcap data, as of the date of this news.
Cryptocurrency market insiders are increasingly turning to meme coins due to their reputation as the preferred venue for traders seeking exceptionally high investment returns.
As you may remember, Justin Sun publicly announced his intention to acquire attractive meme coins in the spring of last year. A review of wallets affiliated with the leading cryptocurrency entrepreneur shows that it is likely to focus on tokens like SPONGE, which is currently undergoing an upgrade to turn it into a gaming platform. On-chain data shows that Sun has $123k worth of SPONGE tokens.
Now, the number of people who want to buy Sponge Token V2, the second version of which will be released, is increasing. For this reason, we have discussed the project more closely below.
Sponge Token V2, Branded by Justin Sun, is Coming to Make a Name
The first-ever Sponge token enjoyed significant success when it was launched earlier this year, and that triumph appears to be continuing due to the ongoing efforts of the team. Investors have enthusiastically embraced the token, attracted by its potential to increase its value by 100x, and Sponge V2 (SPONGEV2) appears poised to embark on a similar path.
This coin acts as a sure sign of the ongoing excitement among investors for Spongebob-related assets. It is also said to have significant growth potential that could reach tens of millions in market value. In fact, like its predecessor, Sponge V2 is expected to have a significant impact.
The progression from V1 to V2 will reportedly happen organically. It is also noteworthy that Sponge Token V2 is not available for purchase at the moment. It is said that SPONGE token holders will be able to obtain Sponge V2 tokens by staking their tokens.
What is Sponge Token V2?
Sponge Token V2 is the sequel to the successful Sponge V1 meme coin. Following its launch in May 2023, Sponge V1 quickly reached a market cap of approximately $100 million. It attracted the attention of more than 13 thousand investors during its pre-sale and was subsequently listed on more than 10 central exchanges. Sponge V1’s marketing campaign led to an increase in the number of followers, reaching 30 thousand people in total, and the distribution of token airdrops worth 100 thousand dollars.
Sponge V2 aims to ensure long-term viability by integrating a gaming platform that allows users to earn rewards through gameplay. There are two methods for Sponge V1 holders to obtain Sponge V2 tokens: existing Sponge V1 tokens can be staked through the sponge.vip staking portal, or Sponge V1 tokens can be purchased and staked using the purchase widget on sponge.vip. By staking, tokens are securely and permanently locked, allowing rewards to be received in Sponge V2.
Stake-to-Bridge Feature Exceeds V1 Pre-Sale
Currently, the total of staked assets and bridge transactions exceeds 4.3 million tokens, and the current price also greatly exceeds the price at V1 launch. For anyone looking for a cryptocurrency that focuses solely on memes, Sponge V2 proves to be an excellent option.
The Sponge V2 roadmap consists of three distinct phases: Phase 1 primarily emphasizes staking launch, staking incentivization, and game research. Phase 2 includes the implementation of the V2 request, the progress of game development, and the goal of reaching 10 thousand owners. Phase 3 focuses on securing prominent listings on major exchanges, launching the game, and reaching a market cap of $100 million.
On the other hand, an important note also draws attention on the project’s website. The following expressions are used in the note:
“Sponge V2 is completely independent from Nickelodeon and has no connection to their creation, SpongeBob SquarePants. This token simply expresses admiration for a widely appreciated and recognized internet meme. SPONGEV2 is a cryptocurrency with no inherent value or expectation of monetary gain. There is no officially established team. “While the Sponge ecosystem may offer play-to-earn (P2E) elements, it is important to note that the coin is primarily designed for entertainment purposes only.”
Anticipation Grows for the Release of Sponge V2
As we mentioned before, purchasing Sponge Token V2 is not currently available. Sponge V2, the highly anticipated successor to the viral meme cryptocurrency Sponge V1, is scheduled to be released in 2024. The developers’ goal is to recreate the glory of Sponge V1 by improving its functionality. The announcement has already caused a significant increase in the SPONGE token price, indicating the enthusiasm of the market.
Interested participants can purchase and stake SPONGE through the website to receive bonus V2 tokens. The unique bridging method adds a slice of complexity to the token’s launch strategy.
Disclaimer: This is a sponsored content and press release, and what is written here does not reflect the views of the Kriptokoin.com team. High risk of loss should be taken into consideration in leveraged transactions and cryptocurrency investments, and extensive research should be done before investing in any platform. To be informed about the latest developments, follow us twitter‘in, Facebookin and InstagramFollow on and Telegram And YouTube Join our channel!