In 2023, the enduring popularity of meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) became apparent. PEPE quickly reached a $1 billion market cap shortly after its launch, demonstrating its strong appeal. Meanwhile, DOGE and SHIB resiliently navigated the crypto market's recovery.
Now that the new year started, investors are starting to wonder if Sponge V2 ($SPONGEV2) has the power to outshine Doge, Shiba, and Pepe with a 100x surge. Let's shed some light on the answer to this question!
Sponge V2 is Poised To Outshine Doge, Shiba, and Pepe
The formula of meme coin success isn't quite clear, but one thing that is imperative is the lovable character that the investors want to see. Despite not being directly linked with the SpongeBob cartoon character we all loved as kids, SpongeBob Token surely made huge waves. It appeared amid a challenging bear market last year and has defied expectations by achieving remarkable growth.
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Since its introduction, $SPONGE has surged an impressive 100x, attracting a substantial community of more than 13k holders within a very short period and establishing itself as a prominent meme coin in 2023. Despite facing adversities, the value of this crypto has increased by 588.17% since it appeared, according to the data available on CoinMarketCap, and has approached the brink of a $100 million market cap, a monumental achievement for a meme coin renowned for its humor rather than practical utility.
Just when everyone thought that they could only expect the increase in popularity of this meme coin, there comes a surprise – an update in the form of Sponge V2 token that brings in utility that investors increasingly show their appreciation for lately - staking. Now that $SPONGEV2 is here, the price increase is 2197% from the initial price that $SPONGE was valued. With a growing community of 30,000 members and the introduction of a groundbreaking Play-to-Earn (P2E) utility, Sponge V2 is positioned to captivate crypto enthusiasts and outshine Doge, Shiba, and Pepe altogether!
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The Reign of Sponge V2 Begins with Stake-to-Bridge Mechanism
The team behind this appealing project wants to go from V1 to V2 by offering the investors a chance to transition from the old tokens to the new ones by implementing a Stake-to-earn model. The holders of $SPONGE should stake them in order to earn the $SPONGEV2 tokens. All the $SPONGE tokens in the V1 staking pool should be withdrawn and, after that, re-staked in the V2 staking pool for the process to be completed.
On the other hand, the new investors who haven't had the chance to buy $SPONGE tokens are certainly not excluded from this unusual presale because they can still buy $SPONGE tokens. These tokens will be staked automatically, and after V2 is officially launched, their portion will be available. The number of staked V1 tokens will be equal to the number of earned V2 tokens.
The interesting fact is that this is a long-term opportunity because V1 tokens will accumulate V2 tokens over the following 4-year period. In this case, the stake-to-bridge model is unique because the investors stake one token to get another. Once the V2 version of this token gets launched, the initial version will lose its function, which means that early investors will enjoy additional value!
The $SPONGEV2 Tokenomics and Utility Revealed
When it comes to tokenomics, a total supply of 150 billion tokens will be available, employing a thoughtfully devised allocation strategy to achieve a well-balanced distribution. One big portion, even 43.09%, will be reserved for staking rewards, while 26.93% will be allocated to bridged $SPONGE. The remaining tokens will be directed toward marketing (7.50%), game development (4.47%), play-to-earn rewards (8%), and CEX liquidity (10%).
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The appeal of meme coins mainly lies in their humorous side and a chance for investors to relieve the stress that comes with crypto investing. However, $SPONGEV2 goes a step further. P2E (play-to-earn) game will surely add another layer to the entire ecosystem and bring additional value that the investors will appreciate.
Ranking high on the leaderboard by showing skills in the game will bring enormous satisfaction and rewards in the form of $SPONGEV2 tokens. There will be two versions that the players can choose from. The free version will be a great chance to test the game, while in the paid version, game credits can be bought with the goal of earning even more tokens in time, making the appeal of this meme token ever greater. When compared to Doge, Shiba, and Pepe, which lack utility, Sponge V2 seems poised to leave them behind this year!
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What Can We Expect From Doge, Shiba, and Pepe in 2024?
Dogecoin opened the door to meme coin popularity that is not losing its power a decade later. Its value has increased by 14563.43% since it first appeared. Looking at the numbers related to Shiba Inu, its value increased by 713125.09%, showing serious growth. Pepe surprised everyone in May 2023, and its value increased by 2009.48% since its launch.
Many analysts believe that Dogecoin and Shiba Inu are poised to maintain high volatility in 2024 despite recent price increases. Throughout 2023, both DOGE and SHIB struggled to sustain momentum following their 2021 hype cycle peaks, resulting in prolonged price stagnation, while Pepe's price has spent most of the time in the red zone lately.
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The upcoming year could serve as a potential turning point for these tokens, contingent upon the broader crypto market's continued upward trajectory. A critical catalyst to monitor is the eagerly anticipated 2024 Bitcoin halving event. Historically, these halvings have triggered new crypto bull markets due to increased scarcity. However, turning to $SPONGEV2 now could bring much better results than the previously mentioned meme coins could, especially because they may have reached their peaks, which can be extremely hard to repeat!
Conclusion
Many analysts believe that this year is extremely important for the crypto market because of the upcoming Bitcoin halving and the possible Bitcoin ETF approval. While the values of Doge, Shiba, and Pepe are in the red, $SPONGEV2 is just starting its journey. It seems that it could easily go through a 100x surge, so you better jump on the bandwagon in time!
