In recent years, meme coins like $SHIB, $DOGE, and $SPONGE have produced sizeable gains for some investors. The latest addition to the meme niche gaining traction is $TSUKA, a new Solana-based token. TSUKA draws inspiration from the Japanese legend of the Dejitaru Tsuka Dragon, said to bring good fortune. In a short period, TSUKA’s price has surged, demonstrating the potential profits meme coins can generate.
After skyrocketing over 2,500% seemingly overnight, TSUKA subsequently crashed nearly 90% just as rapidly. For some lucky early investors, TSUKA created tremendous wealth. But for later entrants, the losses were equally extreme. This extreme volatility demonstrates why timing is everything when it comes to meme coin investing.
Getting in early, such as during a crypto presale, can provide much different risk-reward outcomes compared to joining at later stages. Crypto insiders and whales are predicting major potential in Sponge v2 ($SPONGE), for example, the next iteration of the popular Ethereum-based meme coin Sponge.
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Meme Coin’s Explosive Debut
Sponge v2 offers a clear example of how early involvement in a crypto presale can provide exclusive access to future opportunities.
Sponge V1 launched in May 2023 and rapidly amassed a peak market cap of nearly $100 million. Over 13,000 holders jumped on board during its presale campaign. The token also secured listings on over 10 centralized exchanges like LBank, CoinW, Poloniex, and Gate.io.
📣 We’re excited to announce that #Sponge is bridging from V1 to V2!
Stake your $SPONGE to earn #SpongeV2 tokens. 🧽💦
Buy and stake now for a special V2 token bonus! Don’t miss out 🔥#MemeCoin #Web3 #BullMarket pic.twitter.com/bYmkg1TNrU
— $SPONGE (@spongeoneth) December 18, 2023
Its marketing campaign led to an X following of 30,000 and a successful airdrop distribution of around $100,000 worth of tokens.
Sponge is taking a unique approach by utilizing staking to airdrop the Sponge V2 token. There are two main options:
- Stake held Sponge V1 tokens through the sponge.vip staking portal.
- Purchase and stake Sponge V1 via the buy widget on sponge.vip.
Staking Sponge V1 will lock the tokens permanently. The more staked and the longer the stake, the higher the Sponge V2 rewards. Once the original Sponge V1 supply runs out, Sponge V2 will become claimable. Keeping V1 staked will also generate a yield of up to 40% APY over four years.
The main appeal of Sponge V2 is the development of a new Play-to-Earn game. Users will earn $SPONGEV2 by playing and ranking on the leaderboard. Both free and paid versions will allow casual gameplay or earning credits to boost in-game rewards. This utility seeks to make Sponge V2 more sustainable long-term.
Three Stage Sponge V2 Roadmap
The Sponge V2 roadmap will roll out in three stages:
- Stage 1: Staking launch, buy-to-stake bonus, game research
- Stage 2: V2 claim, game development, 10,000 holder goal
- Stage 3: Major exchange listings, game release, $100M target
While retaining the viral meme status of the original, Sponge v2 has its sights set on mainstream adoption through real-world utility. As an ERC-20 token on Ethereum, the roadmap outlines exchange listings, a play-to-earn game with lucrative rewards, and other goals.
As TSUKA has shown, timing is everything when it comes to meme coin profits. With the learnings from v1 and a mission to move beyond memes into long-term viability, Sponge v2 may well become the next viral hit for investors seeking the next massive meme coin wave.
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