Reaching this milestone demonstrates the project’s ability to attract and retain value, further establishing its position in the market. The project sets a milestone of 10,000 token holders to show growing interest and support. This demonstrates a growing community and investor base, increasing social trading service of orbex confidence in the project’s potential. Simultaneously, the development of the Sponge Game progresses, aiming to create an engaging gaming experience that matches the $SPONGE ecosystem.
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Sponge V1 is an ERC20 token which means that it can be swapped for ETH. Make sure that your connected wallet is funded with enough ETH to buy SPONGE and cover network fees. “Not your keys, not your coins” is a widely recognized rule in the crypto community. If security is your top concern, you can withdraw your Sponge ($SPONGE) to a non-custodial wallet. Storing Sponge ($SPONGE) in a non-custodial or self-custodial wallet grants you complete control over your private keys.
How to create a MetaMask wallet
The team claims that Sponge has a strong community and a dedicated team that is working hard to ensure the success of the project. Sponge V2 has not been listed on any exchanges, including Coinbase. The existing community, established relationships with tier-one exchanges, and a proven ability to create hype and FOMO further strengthen the investment case. The Sponge (SPONGE) meme coin significantly impacted the crypto market when it gained popularity in May. Sponge V2, the token’s latest version, has garnered attention with its promising potential to generate profits.
It is a typical way that crypto projects attract early investors. The strategy has worked, drawing the language learners guide to virtual reality fluentu language learning people to buy Sponge tokens for the staking rewards. Although, right now we do not know anything about the concept of the game, what we do know for certain is that there will be a free and a paid version. While the free version allows users to simply play for fun, the paid version will require users to purchase game credits using the SPONGE V2 tokens. The game credits will enable users to enjoy the play-to-earn version and potentially gain more SPONGE V2. As mentioned, SPONGE is tradable on the open markets and is listed on centralized and decentralized exchanges.
Buy Sponge ($SPONGE) on a Centralized Exchange
However, those who missed out on the chance to profit from the gains were left seeking an alternative option. The token pumped 100x in May 2023, surprising investors and meme coin critiques. It has a similar drive to accomplish even higher pumps in 2024.
What is the 24-hour trading volume of Power Ledger?
- The easiest way is using Ethereum, as demonstrated in the guide.
- The first version of Sponge experienced a remarkable surge shortly after its launch, with its market capitalization skyrocketing from $1 million to nearly $100 million.
- Like many other memecoins, Sponge was launched by an anonymous team.
Users will need to connect their compatible crypto wallet to the official SPONGE website. For optimum connectivity we suggest to use MetaMask or TrustWallet. Adewunmi Adedayo is a seasoned finance and cryptocurrency writer with a passion for demystifying financial and crypto concepts to her readers. She has written several content for top websites such as IBtimes UK and The Nigerian Tribune. Adewunmi’s style entails transforming technical topics into simple, captivating, and concise content for her audience.
The project will use social media hype and FOMO to attract investors and generate returns short term. However, don’t expect the token to hold up like long-term cryptos with more prominent utilities. You will receive V2 tokens as staking rewards when you lock up your V1. This mechanism has been put into place to slowly take V1 tokens out of circulation. The V2 tokens will be gradually released over a period of 4 years. Power Ledger is listed on 40 exchanges across 48 trading pairs.
How to buy $SPONGE 2025 – conclusion
Meme coins are also known as shitcoins due to their lack of utility. However, despite the skepticism that surrounds these tokens, some of the best shitcoins have seen huge returns for early investors. Most recently, Pepe coin surged by over 3000%, sending the token to the moon.
- Buying SpongeV2 before exchange listings allows you to stake the token and earn more tokens with 162% rewards.
- Whilst she was studying for her degree, Ruby spent time learning about personal finance, investing and trading.
- This includes connecting your wallet and confirming the swap before your tokens will be locked up.
- Nevertheless, Spongebob token has attracted interested from meme coin investors and is already making headlines in the news.
- For optimum connectivity we suggest to use MetaMask or TrustWallet.
To become a part of the SPONGE community and take part in the launch, users can visit the official website to acquire SPONGE tokens and stake them to receive V2 token rewards. The project took off in full force and rapidly expanded the community following across social media and Telegram. SPONGE V1 was simply a fun-filled meme coin with no utility or functionality. The purpose was similar to any other meme coin – to create a vibrant community that shares memes and the love of trading meme coins. The project launched with a $1 million market cap and quickly grew to nearly $100 million at its peak.
Users can buy SPONGE tokens from the official website at , using either a bank card for the purchase, or by swapping either Ethereum or USDT on the ERC20 network. The primary reason for the bridge is that SPONGE V1 has revamped the project to include extra features and added utility, making it one of the best shitcoins to consider. It is crucial for projects to develop do i need to register with the ico and pay a data protection fee and have some form of utility behind them. Otherwise, they can simply fade away like the 100’s of the small cap coins which are launched on DEX exchanges. However, traders should note that fees may be much higher when making conversions that include a chain of swaps. In order to obtain SPONGE tokens users must swap them for another cryptocurrency.
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Instead, the team is relying solely on the power of marketing and buzz to encourage investors and reach a market cap of 1bn. The token has a strong discord and telegram community and is also beginning to make headlines in the crypto space as the next meme coin to 100x. The purpose of SPONGE V2 is primarily a revamp of the SPONGE V1 project with extra features and added utility.
You can buy ETH, MATIC, or USDT tokens from reputable exchanges. The first V1 token could not keep people’s interest long because it was a meme coin without utility. SpongeV2’s introduction of staking rewards will keep people’s interest. That means we can expect more demand in 2025—enough to force a bull run. Buying Sponge now and staking it will earn you SPONGEV2 tokens and other rewards.