How To Buy Sponge V2 in 2024 – Beginner’s Guide

$SPONGE is a successful meme coin that saw tremendous growth in 2024. Now, the team aims to replicate the original success with a brand new V2 token that will bring utility to the Sponge token ecosystem.

To help you get involved with this popular meme project before the token explodes, this guide will walk you through how to buy Sponge V2 during the ongoing presale event.

What is Sponge?

SpongeV2 is a meme coin that is inspired by a popular cartoon character.

This token looks like the prominent SpongeBob SquarePants from Nickelodeon. However, the project has no association with the television network. Instead, SpongeV1 is a meme token with no intrinsic value, relying on strategic marketing and community engagement for price gains.

SpongeV1 launched in May 2023. Today, the project has completed the bridge to SpongeV2. It hopes to soak up liquidity and achieve high returns like SpongeV1. Some may consider the newer version another opportunity to get what they missed with 2023’s launch.

This token launched on the Ethereum blockchain and quickly became one of the most popular Ethereum ICOs in 2023.

SpongeV1 reached a $100 million market cap in days. This achievement was due to viral marketing tactics and an active community. However, SpongeV2 hopes to add utility to the token.

Staking rewards are now available when you buy SpongeV2. Even those with SpongeV1 tokens can stake to earn the new coins and claim them during launch.

Based on the more popular vote on Twitter, SpongeV2 will be available for immediate claim on its launch date. Twitter announcements show the coin will be live on May 30, 2024.

Buying SpongeV2 before exchange listings allows you to stake the token and earn more tokens with 162% rewards. Those who swap with ETH will earn 325% rewards with more SpongeV2 tokens.

To participate in the stake-to-earn reward scheme, you must withdraw your $SPONGE tokens from the V1 contract and stake them in the V2 contract.

The play-to-earn game

The play-to-earn game is integral to SpongeV2’s ecosystem. However, we can’t say much about the project as of this writing. The Sponge P2E Racer will feature some meme races and allow participants to earn Sponge tokens.

Sponge P2E Racer will have free and paid versions. Hence, you can play for fun without putting in your tokens.

The paid version will require $SPONGEV2 tokens. You can purchase in-game credits and play to earn more $SPONGEV2 coins. You can keep up with updates about the game through ICObench or subscribe to Sponge’s social media channels.

Sponge Coin Tokenomics

The project will retain equal V2 tokens for all V1 tokens sent to the new staking pool. It will lock the staked V1 tokens in the pool permanently. Hence, SpongeV1 will cease circulation, leaving the floor for SpongeV2.

V2 tokens will continue to be released from the locked V1 tokens for the next four years. SpongeV2 tokens will come through the stake-to-bridge approach. Hence, you can only earn $SPONGEV2 tokens by staking $SPONGE.

The total number of Sponge V2 tokens in supply is 250 billion. You can use the ticket symbol SPONGEV2 to find the token once it is listed on crypto exchanges.

The table below shows the tokenomics:

Why Invest in Sponge?

The big question every investor asks remains; “is Sponge worth investing in?” Meme tokens have held sway for a while, especially those on the Solana network. SpongeV2 is not entirely a new concept.

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.

Here are the reasons why you should invest in Sponge:

Proven track record

Sponge has hit 100x before. It has successfully rallied community support with strategic marketing tactics to reward early investors. Hence, we won’t be surprised if SpongeV2 follows the same path.

The token’s X channel has over 36,000 followers. That offers a pool to draw from when the marketing run intensifies.

Staking rewards

Buying Sponge now and staking it will earn you SPONGEV2 tokens and other rewards. It is a typical way that crypto projects attract early investors. The strategy has worked, drawing people to buy Sponge tokens for the staking rewards.

The token’s price will likely increase, with more investors swooping in for the purchase. That sets things in motion for an explosive debut on crypto exchanges. Things may or may not go that way. Hence, invest prudently.

The play-to-earn game utility

While in development, the P2E Racer will be a game-changer when launched. It will transform the Sponge meme token into something with utility. We expect demand to increase as players purchase $SPONGEV2 for their gameplay.

Sponge Coin Price Prediction

As of this writing, SpongeV2’s price is over 8,000 times higher than SpongeV1 during its launch. That signifies a strong start and a solid posture to rally to 100x after exchange listings. Notwithstanding, $SPONGEV2 faces competition from utility-based tokens.

Gaming ICOs have rallied support for themselves, especially among gaming enthusiasts. Other utility tokens are on their way to public launches. With that in mind, here’s what our experts at ICOBench think about SpongeV2’s price in the coming months and years:

SpongeV2 will likely make its exchange debut at $0.0023. We expect an initial rush to pump the price to $0.024. The token should hold this price throughout 2024, with minor fluctuations.

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.

2025’s peak might be $0.078. However, the lowest price will swing just under $0.025. Expect significant fluctuations, the kind that suits day and swing trading.

SpongeV2’s relevance in 2030 will depend on the P2E’s introduction. Staking will end in 2028, four years, as stated. Hence, investors will need a utility to fall back on or pull their resources off the token.

Our forecast for 2030 places SpongeV2 at $0.065. The price movement will be bearish for most of the year. However, the token should stay strong at around $0.041.

How to Buy $Spongev2 Coin (Extended Buying Guide)

Those who buy Sponge tokens before the listing date can claim $SPONGEV2 tokens automatically on May 30, 2024. You will not keep any SpongeV1 tokens you purchase now. Everything will return to the staking pool while you wait to claim the SpongeV2 tokens.

Here’s how to add SpongeV2 to your portfolio:

Step 1: Open an Ethereum Wallet

MetaMask and Trust Wallet are supported on the official Sponge website. Pick one to open a new crypto wallet. You can use their browser extension on your desktop or download the mobile application on your smartphone.

Step 2: Buy ETH, MATIC, or USDT

Fund your crypto wallet. You can buy ETH, MATIC, or USDT tokens from reputable exchanges. Peer-to-peer platforms are also available. Ensure you have enough tokens for the swap.

Step 3: Connect Wallet to the Sponge Website

Open the official website. Click the “Connect wallet for… rewards” widget. You can also use the “Buy Now” button at the top. Pick your wallet from the drop-down menu.

You can also buy using the Uniswap contract address.

Step 4: Swap the Tokens

Complete the swap to buy Sponge tokens. Staking will be automatic when you buy through the widget. Otherwise, stake the tokens to earn $SPONGEV2.

Step 5: Claim the Tokens

Wait for the announcement. Then, claim your $SPONGEV2 tokens automatically. Use the staking dashboard to see your rewards before claiming the tokens.

Conclusion

$SPONGEV2 is not just SpongeV1’s refresh. It brings new gaming utility and staking rewards that encourage people to buy Sponge tokens.

Those who invested early in 2023 earned 100x their investments. This track record is likely to repeat itself with SpongeV2.

We recommend assessing the risks before investing. SpongeV2 is a meme token that is prone to volatility, relying heavily on marketing and community support to hit a bull market. Hence, invest prudently.

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