With global crypto adoption continuing apace, investors are buying up Sponge (SPONGE) before it gets listed on major exchanges in the hope that they’ve found the next viral Web 3 meme coin.
SPONGE is a Web3 project that comes with its own staking and video gaming community.
In the coming weeks, it has announced two significant milestones: exchange listings, and the tbc release of an upcoming play-to-earn racing game, where players compete to earn SPONGE rewards.
Meme coins have been rallying and falling harder than most through Bitcoin’s 2024 rebound. The unpredictable price movements on all sides leave the industry wondering if it’s on the verge of another bull run.
Any crypto meme project that wants to survive the Darwinistic survival-of-the-fittest pre-adoption market has to offer a little more than just laughs if it’s aiming for longevity.
Investors believe SPONGE is one such speculation. When it launched in May 2023, SPONGE was priced at $0.000025. In less than a year, it has hit around $0.002763, or 10,000% higher!
Confused? Cryptonews is here to elucidate why investors are beginning to care about SPONGE.
You aint seen nothing yet 😎$SPONGE #BullMarket #AltSeason pic.twitter.com/Vj4fLSW6M4
— $SPONGE (@spongeoneth) March 20, 2024
SPONGE’S Voyage So Far
Launching with little-to-no fanfare, SPONGE won the hearts of investors by offering an alluring ecosystem with lots of opportunities for participants to put their time and money to work to claim staking and gaming rewards.
Foregoing a traditional prelaunch ICO in favor of direct listing, SPONGE bounded out the starting gate with a discreet listing on Uniswap, before quickly spreading to centralized exchanges (CEXs) like Poloniex, MEXC, LBank, Gate.io, Toobit, and more.
SPONGE rallied a humbling 4,000% and nearly hit a $100 million market cap less than a week after launch, on May 9 2023.
SPONGE recently upgraded (and migrated) to a V2 on Polygon, an Ethereum Layer 2 scaling solution. It is currently $0.002918 in a pre-sale.
Although the migration has been in the pipeline since January, a recent liquidity pool attack expedited it.
Still, the migration actually furthered the team’s plans by allowing it to deploy a huge early update to the protocol’s staking model and moving forward the still-unconfirmed launch date of the token’s eponymous Web3 racing game.
SPONGE’s Journey Towards Listing
SPONGE’s V2 upgrade introduced a couple of key improvements, the foremost of which being a new staking model that offers a minimum yield of 40% APY.
This rate yield varies according to the number of stakers and tokens locked up and currently sits at around 405%.
Meme coiners expect that number to increase in the coming weeks, potentially exponentially.
That’s because the team hopes to list SPONGE on some of the world’s biggest crypto exchanges, like Binance and OKX. The move could catalyze further explosive price action as the token becomes more accessible to everyday retail buyers.
Sheeeshhhh $SPONGE flexing hard#SpongeV2 #100x #AltSeason pic.twitter.com/5VIxCKmiwE
— $SPONGE (@spongeoneth) March 21, 2024
After CEX listings comes the play-to-earn blockchain game, where players commit SPONGE to race Spongebob and friends around Bikini Bottom for SPONGE rewards.
With its dual revenue staking/gaming model, SPONGE is looking to seriously disrupt low-utility larger market cap rivals, like PEPE, DOGE and WIF.
Take advantage of this window of opportunity to stake $SPONGE and secure Sponge V2 tokens before exchange listings bring the project mainstream.
Stay updated and join the protocol’s 35,000 followers on X.
Buy And Stake SPONGE On The Website
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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