Is $SPONGE Set To Become the $BONK Meme Coin of 2024 After $1.7 Million Staked In Just Ten Days?

The Krabby Patty of meme coins, $SPONGE, is back with its V2 upgrade that’s already attracted over $1.7 million in its unique stake-to-bridge distribution mechanism.

Investors and stakers are starting to become excited about the future potential of $SPONGE in 2024 as they believe it can become the next $BONK and go viral.

$SPONGE has already seen a successful year in 2023 after surging by over 100x, but traders think another 100x is coming in 2024 with its V2 re-launch.

The best part about the re-launch is that there’s only one way to get positioned – through its stake-to-bridge utility.

Here’s everything you need to know about this rising meme coin gem.

$SPONGE V2 Set To Provide Second 100x In 2024

$SPONGE was one of the most successful stories in 2023. It launched fairly during the May 2023 bear market and quickly surged by over 100x as it climbed from a $1 million market cap to as much as $100 million.

Over 11,500 holders flocked to the meme coin based on the popular Nickelodeon star, and it still has a strong following today.

The speedy rise of $SPONGE to reach $100 million caused a plethora of exchanges to list the token, such as, MEXC, and Bitget.

Now, the team has officially announced that $SPONGE is back and better than ever, with a string of utilities to help it achieve the first 100x meme coin in 2024.

Unique Stake-to-Bridge For Fair Launch

$SPONGE sets itself apart from other meme coins as it’s not holding a traditional presale.

There are just two ways to get hold of $SPONGE V2 through the stake-to-bridge utility;

1. Buy and stake Sponge V1 through the website’s buy widget.

2. Stake held Sponge V1 through the website.

The more V1 $SPONGE that is staked and the longer the period, the more $SPONGE V2 tokens are earned.

In addition, all V1 $SPONGE staked in the V2 staking pool will earn an APY for $SPONGE V2, 

providing additional earnings for a long-term commitment.

All V1 tokens that enter the staking pool will be permanently locked to help support the transition into the V2 version of the token.

Furthermore, it’s important to note that $SPONGE isn’t relying on a bullish surge to achieve its 100x goal.

Instead, it plans to release a series of utilities, such as a fun play-to-earn game, to help bring engagement and excitement to the project.

Users can participate in the fun game by utilizing their $SPONGE tokens as credits, creating an avenue of utility for the token.

The New $BONK? $SPONGE Sees $1.7 Million Staked In Just One Week

The increased popularity behind $SPONGE in 2024 has many traders believing it will be the new $BONK for the year.

With over $1.7 million staked into the stake-to-bridge utility in just ten days, it’s clear that investors are anticipating handsome returns from this token.

$BONK quickly became one of the most popular meme coins toward the end of 2024 as it quickly flipped the legendary $PEPE.

The Solana-based meme coin reached an all-time high of $0.000034 during mid-December, allowing it to reach a nearly $2 billion market cap value.

The token retains a $820 million market cap value and remains ranked in the top 100 projects. It was also listed on top exchanges, such as Coinbase, Binance, and Bybit.

Now, with $BONK at incredible heights, traders are looking for alternative options for meme coins that can produce similar returns, and $SPONGE is one of the options that continues to turn heads – especially considering the fact that the team has already produced an impressive 100x return.

Just Two Ways To Get V2 $SPONGE

As mentioned, there are just the two ways listed above to get ahold of $SPONGE V2.

Users who don’t currently hold the V1 version of $SPONGE can easily buy the V2 version and start staking through the project’s website. Those doing this will also earn an incredible buy & stake bonus.

It’s important to note that those staking $SPONGE in the original V1 smart contract will need to withdraw their tokens and stake them in the V2 smart contract.

Overall, the hype achieved for $SPONGE in 2023 will likely carry through to 2024, helping it become the new $BONK and the first meme coin to reach 100x in the year.

Buy and Stake $SPONGE

Disclaimer: We advise readers to do their own research before interacting with any featured companies. The information provided is not financial or legal advice. Neither CaptainAltcoin nor any third party recommends buying or selling any financial products. Investing in cryptoassets is high-risk; consider the potential for loss. CaptainAltcoin is not liable for any damages or losses from using or relying on this content.

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Vignesh Karunanidhi
Vignesh Karunanidhi

Seasoned crypto writer with deep passion for blockchain and cryptocurrency