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The $SPONGE crypto has witnessed a significant surge of 475% over the past month, currently valued at $0.00103, despite Bitcoin’s pullback.
Slightly over a week since the launch of spot Bitcoin exchange-traded funds (ETFs), the crypto markets are experiencing a downturn. In the last week alone, Bitcoin has seen a decline of over 3% in its value, with the leading digital coin now priced at $41,500.
Despite this, the $SPONGE token remains resilient, showcasing bullish strength and an upward trajectory. It has exhibited commendable performance, recording a gain of 11.55% in the last 24 hours and a substantial 31.22% over the past week, indicating a consistent upward trend.
The Relative Strength Index (RSI) is above 50, signaling that the asset is still in positive territory and has the potential for further upward movement. In contrast, SpongeBob’s 14-day RSI stands at 66.87. The $SPONGE token’s 10-day Simple Moving Average (SMA) is presently at $0.000769, while the 100-day SMA is at $0.000351.
$SPONGE Token Holders Flock to Sponge V2 Staking with High-Yield Rewards
Building upon the success of the original $SPONGE meme coin, the impending launch of Sponge V2 has garnered significant attention due to its innovative ‘Stake-to-Bridge’ mechanism, reaching a noteworthy milestone with a staking campaign surpassing $5.7 million in anticipation of its official release.
This groundbreaking mechanism enables holders of the initial $SPONGE to stake their tokens, earning $SPONGEV2 with attractive annual percentage rates soaring up to 294%. Currently, more than 5.4 billion tokens have already been staked through this process.
Importantly, the staking reward rates follow a decaying scale, encouraging early adopters to capitalize on the potential for higher SPONGEV2 earnings. Investors have two avenues for acquiring Sponge V2 tokens.
They can either purchase and stake $SPONGE in the staking contract on the project’s website or opt to stake their Sponge V1 tokens, which will be permanently secured in the smart contract.
The quantity of Sponge V2 tokens received correlates with the amount of Sponge V1 tokens staked, providing an incentive for increased participation.
Paving the Way for New Heights in Meme Coin Innovation and Gaming Synergy
Riding the wave of the original Sponge token’s remarkable ascent, discussions surrounding the profit potential of Sponge V2 are gaining momentum. In May of the previous year, a surge in meme coin enthusiasm propelled $SPONGE to soar over 100x its initial launch price, reaching a peak market cap exceeding $100 million.
With the imminent release of the V2 version, investors are now contemplating the possibility of history repeating itself. Unlike its predecessor, Sponge V2 offers expanded utility beyond the realm of meme coin virality. Its integration with an upcoming play-to-earn (P2E) racing game aims to provide tangible value for $SPONGEV2 holders.
The gaming platform will enable players to engage in races featuring well-known characters, with winners earning additional $SPONGEV2 tokens. Players have the option to choose between a free version of the game for casual entertainment and a paid version that incorporates play-to-earn features.
In the paid version, participants can compete against each other, striving to secure positions on leaderboards for the chance to earn $SPONGEV2 rewards. Considering the anticipated surge in popularity of blockchain-based gaming in the upcoming years, Sponge V2 appears poised to capitalize on this trend and attract early attention.
Harnessing the viral spread of memes and the financial allure of play-to-earn games, developers might have stumbled upon a game-changer.
The increasing excitement surrounding the platform’s distinctive P2E feature is apparent across Sponge’s social channels. Its Telegram group has surged to over 13.5K members actively engaging in discussions about the prospects of $SPONGEV2. Additionally, Sponge V2’s verified X account (formerly Twitter) has 28.6K followers.
Crypto Analysts Predict Bullish Trajectory for $SPONGEV2
Amidst the growing interest in Sponge V2, driven by its incentivized staking and integration with gaming, ClayBro, a popular crypto YouTuber with over 116K subscribers, suggests that $SPONGEV2 holds significant potential to replicate the success of the original $SPONGE, which achieved a 100x increase in 2023.
Notably, Sponge V2 has secured the top position on CoinSniper, a popular coin voting site, surpassing numerous competing projects.
YouTube crypto analyst and trader Jacob Bury is now speculating that $SPONGEV2 has the potential to emerge as the next $PEPE or $SNEK.
Jacob frequently shares videos on his YouTube channel, providing updates on the $SPONGEV2 presale, similar to the one shown above. In addition, he runs a Discord community with 20,000 members, providing users with valuable trading tips and insights into upcoming crypto presales.
Backed by strong community support and attractive incentives for early investors, Sponge V2 might experience a 100x increase in price once trading commences. To take part in $SPONGEV2 presale visit spongetoken.vip.
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