Top meme cryptocurrencies in 2024 – SPONGE rises 17% and Meme Kombat raises $5 million

Meme cryptocurrencies in 2024

Meme cryptocurrencies proved their status as risky but potentially lucrative digital assets back in 2023, when even amid a bear market, the Pepe token was able to bring early investors millions. This year will also be no exception. January started with movements in this segment of digital assets: while bitcoin shows a 7% drop, some new meme tokens are showing appreciation in value and capital inflows from investors.

Sponge V2 – 17% growth and coin relaunch

The token can not be called a newcomer to the cryptocurrency market. The first version of this digital asset was released in May 2023. That year, SPONGE successfully survived the bearish trend – its market capitalization reached almost $100 million, which impressed the community.

Sponge V1 allowed early investors to make impressive profits. After the pre-sale ended, the token was traded on 10 centralized exchanges, including MEXC, BitMart, and LBank. The coin garnered nearly 30,000 followers on social media within a couple weeks. At the peak of popularity, the holders of this cryptocurrency were about 13 thousand users. In early January 2024, the token showed a new round of growth – the coin rose in value by 17%.

The developers decided to repeat the success of the original token and released its updated version – Sponge V2. The coin offers investors the opportunity to make a profit on steaking. Also, this digital asset is part of the new P2E platform, which distinguishes it from Sponge V1.

The purchase mechanism of this version of the cryptocurrency deserves a separate attention. In order to earn Sponge V2, the user needs to place the tokens of the first version into a stack to reserve an equivalent number of new coins. Rewards in Sponge V2 will be awarded to investors based on APY. That said, the minimum yield is now 40%. The greater the number of Sponge V1s placed in the pool, the greater the return an investor will receive. The term of token placement also affects the profit percentage.

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After the full launch of the new version of the digital asset, support for Sponge V1 will be completely discontinued. The tokens will be blocked.

To enter the project, investors can use the SPONGE coins they already have. Also, customers have the right to buy tokens directly from the founders’ website. Advantages of SPONGE V2:

  • This is the second version of the already successful meme cryptocurrency, which can give a chance to multiply capital to customers who missed SPONGE in the spring of 2023.
  • The token rose 17% in early January, which confirms the viability of the coin.
  • Investors will be able to earn coins passively through staking.

Meme Kombat is the last chance to buy a promising meme coin cheaply

Meme Kombat is a token with its own gaming platform, which is a virtual arena for characters of popular cryptocurrencies. The creators have launched an interesting project: users will have the opportunity to organize a “battle” between the heroes of meme tokens (for example, the frog PEPE and the dog DOGE) and earn on the outcome of this fight.

In addition to the opportunity to play and profit, the founders also provide a steaking mechanism with a good annualized return of 164%. This option is available to investors already at the stage of the current token pre-sale, which has already raised more than 5.7 million dollars. Now you can buy the meme token MK for only $0.268, but on January 4, the cost will rise to $0.279.

The prospectivity of the project is also confirmed by the interest of large investors. Recently, one of the whales purchased MK tokens for more than $80,000. Given the speed of fundraising, there is an assumption that the Meme Kombat pre-sale could be finalized within a week. Benefits of the digital asset:

  • “Battle” of popular meme coin-op characters – gameplay with viral potential.
  • A large community and whale purchases speak to the token’s great potential.
  • Investors can passively gain additional coins even before the cryptocurrency goes public on exchanges.

Conclusion

While BTC is showing stagnation after a sharp rise, meme cryptocurrencies look like an interesting alternative for investors. Firstly, even a small investment in a successful meme token can turn into a million-dollar profit (as in the case of PEPE or DOGE). Secondly, the growth of such digital assets is spontaneous and often happens after the coins are listed on major exchanges. Therefore, investors should think about diversifying their portfolio with promising meme cryptocurrencies that are still preparing for listing. Especially interesting in this light looks SPONGE V2, which has great chances to repeat the success of the first version.

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Author: Saifedean Ammous, an expert in cryptocurrency economics.

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