Dogecoin (DOGE), a king of meme cash, has seen a purple buying and selling line for the previous month. This drop occurred whereas the remainder of the market flourished on the brand new 12 months and BTC ETF approval hype.
We’ve seen some worth enhancements when the BTC ETF received accepted, however nothing important – DOGE remains to be 14% down within the final 30 days.
This bear sentiment has naturally sparked fear among the many DOGE holders and made them look for new options.
Lots of them poured their funds into the improved model of final 12 months’s $100M MCAP meme coin, $SPONGE.
Let’s take a look at the small print.
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What’s Occurring with DOGE? Will the Value Bounce Again Anytime Quickly?
Dogecoin is a family title for the meme coin world – What’s BTC to the entire market, DOGE is for meme tokens. Created in 2013 by Billy Markus and Jackson Palmer, Dogecoin options the well-known Shiba Inu canine from the “Doge” meme as its mascot.
Thanks to endorsements from massive names like Elon Musk, its worth leaped from $0.005 to a jaw-dropping $0.74, displaying a 14,800% improve!
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However, most of you most likely know all this already, so let’s see what’s occurring with DOGE now.
For the previous few months, DOGE and BTC have been negatively correlated in worth phrases. If BTC jumps by 20%, we are able to anticipate DOGE to fall by roughly 10%.
And this couldn’t come at a worse time for the meme king…
With the SEC approving Bitcoin spot ETFs and the approaching halving occasion, Bitcoin’s worth is anticipated to rise exponentially. Some predictions say that we would see BTC leaping over $100K for the primary time.
So, there may be a change within the meme throne within the coming months, and DOGE might cross its crown to one other challenge for the primary time since 2013.
One competitor that’s been on the rise since final Might is the SpongeBob token ($SPONGE), which surged to $100M in market cap.
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What’s SPONGE V2 All About?
Sponge V2 ($SPONGEV2) is creating fairly the excitement within the meme coin market, and for good cause.
It’s the developed model of the legendary Sponge ($SPONGE), which dominated the meme market in Might 2023 throughout a tricky bear market.
The success story of Sponge V1 is nothing in need of spectacular. With over 13,000 holders at its peak. It garnered listings on greater than 10 prestigious centralized exchanges, together with the likes of LBank, Toobit, CoinW, and plenty of extra.
Its neighborhood grew quickly, amassing almost 30,000 followers and distributing about $100,000 value of tokens in an airdrop marketing campaign.
Now, let’s discuss Sponge V2. This isn’t your run-of-the-mill presale. To get your arms on Sponge V2, you’ve received two paths:
- Buy and stake your Sponge V1 immediately on the Sponge.vip web site utilizing their purchase widget.
- When you’re already holding Sponge V1, simply stake them on the Sponge.vip web site.
The deal right here is fairly easy: the extra Sponge V1 you stake and the longer you retain them staked, the extra Sponge V2 tokens you’ll be rewarded with. As soon as the Sponge V1 provide is totally staked, Sponge V2 tokens will turn out to be obtainable for claiming.
How Does SPONGE’s Staking Mechanism Work and the Introduction of the Strong Play-to-Earn (P2E) Sport
Sponge V2’s staking mechanism is a game-changer on the earth of meme cash, providing a singular twist to the everyday crypto funding technique.
Right here’s the way it works: if you stake your Sponge V1 tokens within the V2 staking pool, you’re not simply holding onto a digital asset however securing an equal quantity of the upcoming Sponge V2 tokens.
Plus, the longer and extra V1 tokens you stake, the extra V2 tokens you earn, thanks to the variable annual proportion yield (APY). However, keep in mind, staking V1 tokens means they’re completely locked, highlighting a agency shift to the brand new and improved Sponge V2.
And that’s not all – Sponge V2 is upping the ante with its introduction of a strong Play-to-Earn (P2E) sport. By doing this, the challenge is distancing itself from the mould of ineffective shitcoins.
Whether or not you purchase or stake $SPONGE utilizing the widget on Sponge.vip, you’re in for bonus V2 tokens. And in the event you hold your V1 Sponge staked, you’ll hold racking up extra V2 rewards.
The upcoming P2E sport is ready to be the Krabby Patty of community-driven meme cash. On this sport, not solely will customers take pleasure in taking part in, however they’ll even have the possibility to earn $SPONGEV2 tokens by climbing up the leaderboard.
The sport will cater to all sorts of gamers, providing each free and paid variations. For these trying to enhance their earnings, $SPONGEV2 tokens can be utilized to buy sport credit for extra in-game rewards.
Crypto Media and Influencers are Backing the $SPONGEV2
In case you suppose that we’re the one ones who suppose that $SPONGEV2 holds nice potential, check out what well-known influencers had to say.
Take Jacob Crypto Bury, for occasion. With a YouTube following of over 26,000, he’s a well-respected voice within the crypto neighborhood. He’s gone on record predicting that $SPONGE V2 could deliver a 10x gain.
Although the announcement of V2 remains to be contemporary, the crypto media and influencer neighborhood are rapidly taking discover.
Lots of those that precisely predicted the success of the unique $SPONGE final Might at the moment are turning their consideration to V2, with the crypto neighborhood eagerly awaiting their insights and forecasts.
Conclusion
So, there you have got it, DOGE goes by way of a bearish interval, and there are not any indicators that issues will get higher anytime quickly. Particularly contemplating its adverse ties to the Bitcoin development.
Nevertheless, it’s not all so grim within the meme market, as we introduced a brand new meme ICO token that appears to have not less than 10X potential within the upcoming quartal.
Keep in mind, as soon as all of the SPONGE tokens are staked, the window of alternative slams shut. So, in the event you’re trying to make a transfer, the time is now. Don’t miss out on what could possibly be the subsequent massive factor within the meme coin house!
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