The overall bullish market sentiment at the start of the new year seems to be affecting even Dogecoin (DOGE), as one of the first meme coins shows a clear $0.1 price trajectory. However, DOGE’s success is overshadowed by the second coming of the legendary Sponge Token.
Can Dogecoin hit $0.1?
After a very successful last week, when it hit $0.094, Dogecoin is currently in retreat. Hovering around $0.08 for the last few days, DOGE is struggling to break through this last resistance level on its trajectory to $0.1. According to Crypto News, this is the last pullback before it surges to $0.12. Their prediction is based on the analysis of Fibonacci retracement levels.
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There is plenty of evidence to support this claim. With a market cap of $11.4 billion and daily trading volume between $350 and $450 million, peaking at an astonishing $944 million a few days ago, Dogecoin has shown a lot of activity in the last month. The investors’ interest is undoubtful, with billions of DOGE tokens changing hands daily. This level of trading usually indicates some huge price movements, and for DOGE, the only way is up.
However, the timing of this surge is still unclear. Some estimates say that it could take several months, perhaps even a better part of 2024, before it happens. That makes DOGE a bad investment option for people looking for short-term gains. If you are among them, it would be better to choose Sponge V2 Token (SPONGEV2), since it is set to explode much sooner and make a bundle for its early investors.
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New Sponge V2 Meme Coin Set to Outperform Dogecoin's Price Trajectory
The original Sponge Token (SPONGE) was one of the most successful meme coins of 2023. From a humble start in May, it quickly reached a market cap of $100 million, creating 100x gains for early backers. The token is listed on 10 crypto exchanges, with a significant daily trading volume. Although its success was eclipsed by Pepe Coin, it is worth noting that only a handful of meme coins reached similar heights.
One of the greatest SPONGE’s legacies is its 30,000-strong community. Determined to keep it alive, the developers decided to create a new version of the popular token, dubbed Sponge Token V2. The new iteration offers several advantages over the original altcoin, adding modern features SPONGE lacked.
SPONGEV2 Introduces an Innovative Stake2Bridge Mechanism
Staking is one of the most popular features of modern cryptocurrencies, but the team behind Sponge decided to take it a step further. Their innovative Stake2Bridge mechanism allows original Sponge holders to stake their tokens and receive SPONGEV2 as a reward. Not only is this a smart ICO mechanism, but it also rewards the community for its loyalty, which is essential for any meme coin’s success.
And the community is still active, with more than 11,000 SPONGE holders. The token’s market cap is over $16.7 million, a significant number for projects with such humble beginnings as Sponge.
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At the moment, there are more than 4.1 billion SPONGE tokens staked, with a 389% APY. Those who missed out on SPONGE and its massive gains can buy it even now and stake it to earn SPONGEV2 in preparation for its incoming bull run.
The renewed interest in SPONGE resulted in a surge in daily trading volume, surpassing $1 million. It also had a significant impact on its price, which posted more than 200% gains since SPONGEV2 was announced. The strong attention is proof that the public is taking a keen interest in the project and is following the development closely. Such activities usually result in a massive surge in the near future, indicating a positive outlook for SPONGEV2.
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Later on, the SPONGEV2 creators plan on adding a game with Play2Earn (P2E) mechanics that will allow players to earn SPONGEV2 tokens directly. This will be a considerable boost to the token’s price, as it will increase its demand significantly.
Smart Tokenomics Reveal SPONGEV2’s Long-Term Plans
Out of a total supply of 150 billion, 26.93% is reserved for bridging, while another 43.09% is set aside for staking rewards. The high percentage of tokens dedicated for staking rewards is another nod to the community, securing a massive reward pool for years to come.
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Further 10% are assigned for CEX liquidity, providing security and promoting long-term price stability. 7.5% of the supply will go to marketing efforts, while 4.47% will be spent on game development. Finally, 8% of all SPONGEV2 tokes are set aside for P2E rewards.
It is easy to see that the entire tokenomics is geared toward rewarding the community and promoting engagement, which is a very smart approach that will yield massive benefits in the future.
SPONGEV2 Roadmap is Very Ambitious
The roadmap laid out by the developers is very ambitious and envisions goals for the first three stages of development. The current stage is well underway, with bridging and staking already active. In stage 2 we will see the first SPONGEV2 listings on major exchanges, with the planned goal of reaching 10,000 holders. In Stage 3 developers plan to launch Sponge P2E game, hit Tier 1 exchanges, and hit a $100 million market cap.
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The roadmap, although ambitious, seems achievable, especially since the team behind already has the experience and the know-how to fulfill it.
Conclusion
As Dogecoin progresses toward the $0.1 mark, another meme coin emerges poised to steal its thunder. SPONGEV2, a new and improved version of the popular Sponge Token has been launched and is already making waves on the market. Early investors stand to make a bundle with the new meme coin, provided they can get their hands on it before its price explosion.
