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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 traders are gathering Sponge token (SPONGEV2) in hopes of it getting listed on prime exchanges quickly. Sponge’s worth evaluation hints at vital 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 known as $SPONGEV2.
What’s $SPONGEV2 and may it replicate the success of $SPONGEV1?
Sponge V1 burst onto the scene through the robust instances of the Might 2023 bear market. This honest launch token gained prompt recognition amongst meme coin fans, due to its catchy identify that introduced again nostalgic reminiscences.
In a outstanding flip of occasions, Sponge V1 rapidly grew to become one of many standout meme coin launches of the yr. Its market cap soared to over $100 million, attracting a group 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 large funding transfer.
Sponge V2 took a novel strategy to its launch. Early adopters had two choices: both buy Sponge V1 and stake it by the Sponge web site or stake current Sponge V1 tokens. The distribution of Sponge V2 tokens occurred based mostly on the quantity and period of V1 tokens staked.
With a give attention to constructing a sturdy ecosystem, Sponge V2 introduces the revolutionary “stake-to-bridge” characteristic as its basis. This permits for a clean transition and staking of Sponge for Sponge V2 on the Polygon community.
The venture has gained vital momentum, with over 9 billion $SPONGE tokens staked, surpassing the $30 million mark throughout the Staked and Bridged platforms. Moreover, Sponge V2 provides spectacular APY charges, exceeding 430% on Polygon and 170% on Ethereum.
$SPONGE worth evaluation – Is a 100x repeat potential?
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 worth reached $0.0042 earlier than present process a minor retracement of about -26%.
$0.0045 subsequent? 👀🚀 $SPONGE
— $SPONGE (@spongeoneth) March 14, 2024
At the moment, $SPONGEV2 is consolidating its place, discovering robust assist between $0.0029 and $0.0034 up to now week. This stability units the stage for a possible upward motion within the close to future. Purchase stress stays excessive, representing 59% of transactions, with the intention to surpass the resistance degree at $0.0036.
The diluted market capitalization of $SPONGE is $133 million, whereas the entire 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 presently in a bullish buying and selling channel and is predicted to rebound quickly, particularly with main alternate listings on the horizon. With an entry level at $1.1 million, this venture may doubtlessly yield a major return, presumably as much as 100x based mostly on historic market caps, in response to crypto whales.
To realize perception into the potential of this new venture, try our worth prediction for Sponge V2.
Sponge V2’s potential to spice up ecosystem with Play-to-Earn initiative
The Sponge V2 workforce is creating a novel Play-to-Earn (P2E) recreation, including an thrilling new characteristic to the token. Gamers can earn $SPONGEV2 tokens by enjoying the sport and rating on the leaderboard.
The sport may have each free and paid variations, giving customers the choice to play for enjoyable or use $SPONGEV2 tokens to purchase recreation credit for further earnings. Whereas the anticipated Play-to-Earn recreation from Sponge isn’t but out there, indicators from the workforce counsel that improvement has moved past the starting stage.
Providing each free and paid variations, customers can play for enjoyment or use Sponge V2 tokens to purchase recreation credit for added passive revenue. This upcoming Play-to-Earn recreation is predicted to play a major function in increasing the token’s utility, contributing to the venture’s development.
These developments are a part of a broader technique geared 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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