As the recent meme coin rally accelerates, Shiba Inu investing are shifting to a new ICO called Sponge V2 that is aiming to deliver a 1000% return on investment (ROI).
Shiba Inu (SHIB) is up 180% in the last seven days, CoinMarketCap data shows, with its market cap back above $15 billion.
SHIB bulls are targeting a retest of record highs a further more than 200% higher versus current levels.
While 200% returns are a great target, a newly launched coin called Sponge V2 potentially offers much greater upside.
Sponge V2 ($SPONGE) is the reincarnation of the legendary Sponge meme coin on the Polygon network.
The original Sponge token nearly hit a market cap high of $100 million last year.
But the token migrated to Polygon to make use of its lower fees and faster transactions a month ago.
📣 Attention, #SPONGERS!
Here is some important information to remember about $SPONGE V2!$SPONGE V1 has officially been discontinued, and V2 has been launched on #Polygon! 🔥
Learn more about the token details below 👇https://t.co/TCdxgXx40w
🧵1/3 pic.twitter.com/YZzXOlKmHY
— $SPONGE (@spongeoneth) February 6, 2024
And the migration to Polygon has ignited a surge in the $SPONGE price.
Last at $0.001668, $SPONGE is up over 200% since its February 5th Polygon launch.
That gives the token an impressive market cap of just over $67 million, as per DEXTools.
$SPONGE – New ICO Aiming for 1000% ROI
Sponge isn’t just any old utility-lacking meme coin.
It offers a compelling passive income opportunity and also functions as the native token of a play-to-earn (P2E) racing game.
Sponge buyers who stake their token can secure yields in the region of 650%, as per the official sponge website.
Meanwhile, the P2E game will see players competing with each other for ranks on a global leaderboard. Racing rewards are paid out in SPONGE V2.
Don’t forget about the upcoming #SpongeV2 Play-to-Earn game! 👀
Stay tuned for updates. 🧽$SPONGE #Crypto #Altcoins #100x #Web3 #AltSeason #Binance pic.twitter.com/Z51MSmKqVF
— $SPONGE (@spongeoneth) February 21, 2024
But perhaps the most exciting thing about Sponge is that its still super early to get into the coin.
Meme coins like Bonk, Dogwifhat and Pepe have shown how it’s possible for an upstart meme coin to clinch a multi-billion-dollar market cap.
The meme coin’s website is teasing that it will soon be launching on bigger and better exchanges.
That could bring a wave of new buyers to $SPONGE.
At just $67 million, Sponge could get be looking at 1000% ROI in terms of price upside.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
