Sponge ($SPONGE), a meme coin that has seen early supporters receive returns of 10,000%, has launched a social media poll to determine how to distribute the project’s staking rewards. The poll, running from May 16th to May 21st, offers options for immediate access to rewards, locking rewards for one month, or vesting them over six months or a year. Participants include those who bought tokens through the presale widget, bridged to Polygon before February 5th, and holders who manually moved into a claim contract following a snapshot on February 5th. The team outlined the pros and cons of each choice to help voters decide.
Sponge has recently switched from Ethereum to Polygon, attracting investors eager to capture potential price action before the presale closes. As the project prepares to be listed on major exchanges, Sponge stands out for its staking and gaming community. Significant upcoming milestones include the launch of the new Polygon $SPONGE token and the release of a Sponge play-to-earn game. Meme coins have shown volatile price movements in the wake of Bitcoin’s 2024 rebound, leaving the crypto industry speculating on the possibility of another bull run. Investors view Sponge as a long-term investment opportunity due to its unique offerings and continuous growth in value since its launch in May 2023.
$SPONGE V1 made a strong debut without a traditional ICO, quickly gaining popularity on decentralized and centralized exchanges. After rallying by 4,000% and reaching a nearly $100 million market cap within a week of launch, Sponge upgraded to a V2 token on Polygon. The migration led to a recent presale relaunch with significant profit potential for early supporters. The team took advantage of the move to enhance the staking model and accelerate the launch of the P2E racing game. With a staking yield of around 335%, Sponge aims to increase engagement in the meme sector and expand its presence on major exchanges, potentially driving further price growth as the token becomes more accessible to retail buyers.
The mission of Sponge is to create value through its staking and gaming model, disrupting larger market cap meme coins like $PEPE, $DOGE, and $WIF. The team’s plan to list $SPONGE on major exchanges like Binance and OKX could lead to increased visibility and trading volume. The Sponge-themed game, where players can race to collect rewards, adds another layer of engagement and potential profitability. Investors are encouraged to take advantage of the project’s current phase before it becomes more mainstream with exchange listings. Sponge’s active community of 37,300 followers on social media provides a platform for updates and engagement with other enthusiasts.
As with any investment in the crypto space, Sponge carries a high level of risk, and investors should conduct thorough research before making any decisions. The information provided in this article is for informational purposes only and should not be construed as financial advice. The potential for significant gains comes with the possibility of losing all invested capital. Sponge’s journey from a low-key launch to a sought-after meme coin demonstrates the evolving nature of the crypto market and the opportunities it presents to early adopters.
