The Token, like the Pepe and the Frog cartoon, is based on cartoon characters. Sponge V2 and Pepe are meme coins that have gained the attention of the crypto market. These coins have become popular among investors due to their potential high returns and communities. 26.93%, or 40.4 billion $SPONGEV2 tokens, will be available to early investors.
Finance and Crypto Writer
Not only is the broader crypto market bullish, but there are some key events lined up next year. While some crypto investors prefer the structure of CEXs, others prefer the more open nature of DEXs. These tend to have wider support for meme coins, and are often where meme coins first launch before becoming popular enough to trade on CEXs. Sponge is a SpongeBob SquarePants-inspired meme coin on Ethereum. It is important to note that Sponge has no association with the SpongeBob SquarePants show and its creators.
Step 2: Buy ETH or USDT
This action, known as staking, will permanently lock the V1 tokens within the contract. $SPONGEV2 ownership operates through a unique “stake-to-bridge” system. Newcomers buy and lock V1 tokens, while current holders simply stake their existing ones. This exclusive access grants early investors the chance to reap potential rewards before the anticipated price surge upon hitting the open market.
Some examples of portfolio tracking tools include CoinStats, CoinLedger, and Koinly. Instead, you’ll often need a non-custodial wallet (also called a self-custody wallet), to access leading decentralized exchanges (DEXs). With a non-custodial wallet, you maintain control over your private keys and funds, rather than the exchange/wallet provider. Make sure you carefully manage your private keys and back up your recovery phrase.
Is $SPONGE legit?
Note, however, that some meme coins like Dogecoin have their own blockchains, so that opens up your trading options. Or, you could buy stablecoins that support swaps on the relevant network you’re looking to trade on. The project will retain equal V2 tokens for all V1 tokens sent to the new staking pool. Hence, SpongeV1 will cease circulation, leaving the floor for SpongeV2.
- Also, consider whether a project has a clear roadmap and transparency into the development team.
- It has an interesting tokenomics model that sets it apart from other memecoins.
- Not only is the broader crypto market bullish, but there are some key events lined up next year.
- Another portion will be utilized for CEX liquidity, ensuring sufficient liquidity for trading on centralized exchanges.
- Although, past performance should never be indicative of future results, we feel that SPONGE V2 could follow the same suite as the likes of PEPE 2.0.
It is important for long-term investors to follow SPONGEV2’s development path, collaborations, and community support. To successfully manage finest fee gateway for foreign exchange brokers and crypto exchanges risk in the current crypto market, diversification is still a good approach. The crypto market offers so many investment increasing presence of high frequency trading in crypto opportunities in 2024.
How to Buy Meme Coins: Step-by-Step Guide
Lastly, $SPONGE aims for more social domination by expanding its presence across various social media platforms and communication channels. This strategy focuses on increasing brand awareness, community engagement, and a supportive network of $SPONGE holders. The roadmap also includes a target of reaching a initial coin offerings $100 million market capitalization, indicative of significant growth and investor confidence. Reaching this milestone demonstrates the project’s ability to attract and retain value, further establishing its position in the market. On the Sponge V2 website, you can use two Ethereum network cryptocurrencies. To initiate a purchase, use the order form at the top of the website.
The crypto software engineer internship jpmorgan chase and co market is highly volatile, and the value of tokens can fluctuate significantly. Here, we will explore the pros and cons of buying Sponge V2 tokens in 2023. To understand Sponge V2’s potential to experience significant growth, let’s examine Sponge V1. 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. This impressive growth resulted in substantial gains for early investors, with returns of almost 100x. The token pumped 100x in May 2023, surprising investors and meme coin critiques.
From there, choose “ETH” and enter the quantity of SPONGE tokens you want to swap. In this section, you will find a short and detailed guide that will walk you through the process of purchasing Sponge V2 tokens. We aim to provide an easy and accessible investment experience for all investors, regardless of expertise. It’s how consumer apps, blockchain games, and DeFi platforms are moving millions without users ever needing to think about chains, wallets, or bridges.
- The project aims to secure listings on prominent and reputable exchanges and attract a wider spectrum of investors.
- After confirming the investment, the coins will be deducted from MetaMask via a smart contract.
- Adewunmi’s style entails transforming technical topics into simple, captivating, and concise content for her audience.
- However, don’t expect the token to hold up like long-term cryptos with more prominent utilities.
- NEW YORK, Dec. 29, 2023 /PRNewswire/ — Meme coin $SPONGE is upgrading to a new version of the token as it pivots to target the crypto gaming space.
Step 1: Choose a Crypto Wallet
Despite a crypto presale, these factors could contribute to significant price increases should market conditions continue to improve. Additionally, our price prediction analyzes macroeconomics and technical price charts. You can use the ticket symbol SPONGEV2 to find the token once it is listed on crypto exchanges. You will receive V2 tokens as staking rewards when you lock up your V1.
On the centralized exchanges the only pairing with SPONGE is USDT which means that users will need to either deposit or purchase USDT to make the swap. Alternatively, for users wishing to purchase SPONGE using a decentralized exchange the token is listed at Uniswap with Wrapped Ethereum (WETH) pairing. As mentioned, SPONGE is tradable on the open markets and is listed on centralized and decentralized exchanges. Users can also opt for a number of other centralized exchanges such as Gate.io, BitMart and Bitget in order to purchase SPONGE tokens. There are 3 main ways to obtain SPONGE tokens, however, qualifying for the extra bonus requires users to purchase SPONGE from the official website.
Its success can be attributed to strategic partnerships, a strong community, and listings on reputable exchanges. Hence, one of its key objectives is to expand its reach and accessibility by securing listings on decentralized exchanges (DEX) and the best day trading apps. The roadmap also sets a target of achieving a $100 million market capitalization.