SPONGE price soars 84% ​​in 24 hours as enthusiasm for the V2 bridge explodes. Is Sponge V2 the next Pepe coin?| Trending Viral hub

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coin meme Sponge revised the 100x gains it made in May last year, as its price surges 84% ​​in 24 hours to $0.00114, after excitement over the V1 to V2 bridge explodes. Could SPONGE V2 be the next Pepe and see its price skyrocket by 4,046%?

a youtube crypto analyst notes that $SPONGE has advanced 10x from its recent lows and appears well positioned for even bigger gains in the future.

$SPONGE reached a high of $0.01214 in 2023, but surpassed that level today to hit a new all-time high of $0.001248, eliminating a zero in the process by losing a decimal point.

Buyers have taken a breather, but the intention is clear, so expect imminent price increases.

To claim the new gaming-optimized SPONGE V2 token, the original V1 token must be staked. So far, 4,180,869,939 tokens have been deposited into the bridge contract worth $4,503,802.76.

Once staked, the tokens will be bridged automatically. The date of the bridge event has not yet been announced, so token holders are urged to keep an eye on the project’s social media: x and Telegram.

For those who want to be exposed to SPONGE V2 and do not yet own SPONGE V1must purchase the V1 version and then participate in the bridge contract, as explained in the Sponge.vip website.

From a technical point of view, the break of resistance at the previous all-time high means that the token is ripe for further bullish progress.

Sponge V2 offers 386% annual staking reward

Punters are currently enjoying a 387% reward rate, a return that helps explain the buying behind the price appreciation. Clearly, new money is coming to Sponge attracted by SPONGE V2’s new utility features.

Justin Sun owns SPONGE worth $123,000. Will you buy more V1 tokens to upgrade to SPONGE V2?

Also helping to encourage bullish traders is the recent news that Tron founder Justin Sun appeared to be switching from bitcoin to altcoins last week, with meme coins such as $SPONGE V2 in the frame. Sun transferred $14 million from the Binance exchange, while the price of $SPONGE has risen 178% in the last six days.

Analysis of wallets associated with the high-profile crypto entrepreneur suggests that tokens like $SPONGE, which has just embarked on an upgrade to transform it into a gaming platform, will be in his sights.

Savvy cryptocurrency market participants are turning to meme coins because it is a sector that has established itself as the arena of choice for traders looking for dazzling investment returns.

Justin Sun made it known in May 2023 that he was looking to buy attractive meme coins. He posted on X in May that he was going to start “trading meme coins and promising projects.” Sun owns $43,000 in $SPONGE.

Crypto security company details PeckShield, revealed a transfer of 6,166 ETH from Binance to a wallet associated with Justin Sun. At current prices, the ETH transfer is valued at $14.7 million.

Sun already owns the Sponge coin. A wallet address (0x176f3dab24a159341c0509bb36b833e7fdd0a132), tagged as ‘Justin Sun 4’ on Etherscan, holds cryptocurrencies worth $595 million and is where Sun stores his SPONGE tokens. Justin Sun has 108 million SPONGE V1 valued at $123 thousand.

Crypto sleuths are closely watching the wallet to see when it adds to its holding and bridges the token.

You can see the complete token portfolio on debank.com:

In addition to Sponge, other major meme coins held by Justin Sun include SHIB ($5.4 million), FLOKI ($647,000), BabyDoge ($428,000), and PEPE ($61,000). In May of last year, Sun made it known that he was in the market for meme coins and, more broadly, “promising project” tokens:

Another wallet address connected to Sun: 0x9fcc67d7db763787bb1c7f3bc7f34d3c548c19fe – owns cryptocurrencies worth $282 million, most of which is in ETH. Just a small fraction of that amount going to Sponge could send Sponge’s price to the moon.

But that’s not the only wallet address believed to be related to Justin Sun. A second identifiable crypto wallet carries the public name tag ‘Justin Sun’ on Etherscan: 0x3ddfa8ec3052539b6c9549f12cea2c295cff5296. This wallet is valued at $19.9 million.

Now cryptocurrency watchers have spotted Sun making a big move, in line with similar transactions from other whales gearing up for the next cryptocurrency bull run.

According to Dextools data, there are now 12,100 holders of the SPONGE coin, but that figure excludes coins held on centralized exchanges and in the bridge contract.

Trading volume recorded by Coinmarketcap over the past 24 hours has increased to $2.4 million, while Dextools measures the total market capitalization at $40 million.

Another notable trending meme coin today is $MICKEY, launched by a fast-moving token issuer following the copyright expiration of the original version of the Disney cartoon character.

Also of interest among the 10 most popular pairs is $TGC, the token of the TG.Casino Telegram-based licensed casino and sports betting that is beating GambleFi sensation Rollbit at its own game.

The popularity of Meme coins among traders has endured throughout the so-called “crypto winter” bear market. Sponge has been no exception to this trend, as he demonstrated when he was featured prominently in the prestigious new york magazine.

The article, published on May 9, 2023, informed readers:

“Two meme coin projects, one based on the amphibian Pepe and the other on SpongeBob SquarePants, are currently enjoying a huge speculative boom, and both are acting like it’s 2021 again. Demand is so wild that meme coins like these made it $2.3 billion in volume last week.”

In addition to the games’ attractive performance and potential to generate substantial revenue, SPONGE V2 will also be released on what the website describes as “bigger and better exchanges.”

The $SPONGE token is currently available on major exchanges such as door.io, MEX, bitget and Poloniexbut Tier 1 venues OKX, Kucoin and possibly Binance could be next on the list.

Buy and bet $SPONGE today and you could set up crypto portfolios for spectacular alpha returns.

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