SpongeBob ($SPONGE) launched in 2023, taking inspiration from the iconic SpongeBob SquarePants character. Like many meme coins, it had no intrinsic value and relied solely on community sentiment.
However, that didn’t stop degen investors and marine life enthusiasts from buying the token.
The $SPONGE price surged 1,200% within 24 hours of its first listing, translating into a market cap of over $14.5M. Less than a week later, the $SPONGE market cap was nearly $100M.
Investors who bought $SPONGE at $0.000025 on presale and held it until now can swap them for $SPONGEV2, the new iteration of the iconic meme coin now available on presale at $0.002145.
Apart from introducing utility to the project, $SPONGEV2 yields early $SPONGE supporters 8,581% profits. Moreover, the token could potentially surge 5x post-listing, multiplying investor earnings.
Merging Memes with Utility
$SPONGE has had rough times, hovering under the $0.00009 mark for months, but it has now recovered and stands at $0.0002991. This means $SPONGE HODLers who bought it at its all-time low of $0.000006921 can yield 4,221% profits.
However, the project team offered early supporters an even better opportunity. $SPONGE holders can bridge their tokens to V2, a new token sharing the same spirit but presenting real utility.
$SPONGEV2 is the native token of a Play-to-Earn (P2E) game (currently in development) about familiar marine characters. Players will be able to earn more tokens by participating in the game’s ecosystem.
The game’s launch is planned for Stage 3 of the roadmap, following the $SPONGEV2 listing.
To date, over 10B tokens have been staked, bringing their total value to over $24M. Early investors can stake $SPONGE immediately to earn 162% APY on Ethereum or 324% APY on Polygon.
A whopping 43.09% of tokens are allocated to staking rewards, incentivizing community members to bridge their tokens.
⚠️Staked $SPONGE V1 tokens are locked in permanently and will be burned after the V2 claim.
This means you can yield a $1.5K yearly net profit just by waiting if you spend $1K on $SPONGE now and stake it on Ethereum. And if you stake it on Polygon, the gain would be over $4.4K.
Read more about new developments in the project’s whitepaper.
Can $SPONGEV2 Repeat $SPONGE’s Success?
Upon the $SPONGE V1 listing, analysts predicted it would reach $0.0004757, but the token went well past that, securing an all-time high of $0.002394 on May 8, 2023.
That’s 403% higher than expected, translating into a 95x gain for those who bought V1 tokens on presale. Given its added utility and community incentives, it’s safe to assume that V2 can repeat its predecessor’s success.
The $SPONGEV2 tokenomics model heavily focuses on staking and P2E game rewards. Coupled with continuous marketing efforts, it creates a strong foundation for the project’s long-term sustainability.
$SPONGEV2’s community already counts over 36K X followers and 14K Telegram subscribers. According to Etherscan, there are over 14K $SPONGE token holders, who will all likely migrate to V2.
Given the current meme coin trend, the project team’s proven track record, and added utility, $SPONGEV2 has the potential to make 5x post-listing. If you were to buy $1K worth of tokens now, you’d receive a $4K net profit. For $SPONGE V1 early investors, this would result in an enormous 42,480% gain.
As well as bridging V1 tokens, you can also buy $SPONGEV2 on the ongoing ICO at $0.002149 per token. The price is set to increase, which is a common approach with presales to create FOMO and incentivize adoption.
To buy $SPONGEV2, visit the official presale website, connect your wallet, select your preferred currency, enter the amount to pay, and confirm the transaction. If you’re a lucky $SPONGE V1 holder, bridge your tokens on the staking page.
Final Thoughts
$SPONGEV2 has explosive potential, making it one of the best meme coins to buy now. Although $SPONGE V1 holders will reap the highest profits, there’s still an opportunity to jump on the bandwagon.
As always, we remind you to DYOR before investing. The crypto market is volatile, so don’t invest more than you’re prepared to lose.
