How to Buy Spongebob ($SPONGE) Token in 2024

Meme coins have the potential to attract significant attention and trading activity, resulting in substantial price increases. Spongebob ($SPONGE) is a meme coin that experienced an explosive debut, with their price increasing over 30 times within the first 24 hours of trading.

The popular $SPONGE token is making a comeback with a new and improved version, $SPONGE V2. To get your hands on $SPONGE V2 before it officially launches, you’ll need to stake V1 tokens and bridge to V2. It’s not yet possible to purchase $SPONGE V2 on an exchange. 

So, how to buy Spongebob token?

This guide’ll explain how to buy $SPONGE and discuss what’s in store for this popular meme project.

What is the Spongebob Token?

The SpongeBob token, one of the best meme coins in the space and inspired by the namesake show, operates on the Ethereum network. Its objectives include developing top-tier meme coins and fostering a coin steered by the community.

The team working on Sponge is currently upgrading their tokens from SPONGEV1 to SPONGEV2. This upgrade will enable them to add more utility to the tokens. They hope this added functionality will help them replicate their success from 2023 to 2024. Additionally, they are optimistic that these upgrades will help them reach tier 1 exchanges, like Binance, just like other meme coins did in 2023.

You can enter the Spongebob Telegram channel to learn more about the project and its community.

Why are People Investing in Spongebob Tokens?

Coined as the ‘meme coin equivalent of the Krabby Patty,’ the $SPONGE token currently boasts a market capitalization exceeding $12.5 million and is witnessing a significant price surge, following the impressive Q2 2023 performance of similar shitcoins like Pepe (PEPE). For those who missed the chance on Pepe, $SPONGE presents a fresh opportunity.

Aiming to uphold the growing momentum of meme tokens that experience a swift surge in value over a short period, the $SPONGE token could outperform the trajectory set by DINO, TURBO, WOJAK, WSB, and countless other tokens. As one of the most recent entrants to Uniswap’s selection, $SPONGE is poised to impact the meme coin market.

As an ERC-20 token, it currently records a 24-hour trading volume surpassing $20 million. With a weekly gain of over 600%,  crypto analysts anticipate the token could outshine its competitors in the coming days and weeks. 

Moreover, the Spongebob token has swiftly become a popular choice on DEXTools, where it was a top trending coin for a number of days.

However, the market cap remains small, at $12.5 million, which is around 40x smaller than PEPE, showing the huge potential for growth, and there are also fewer than 15,000 holders – any kind of mainstream adoption would see the price skyrocket.

For more details on Spongebob token’s upside potential read our Spongebob token price prediction.

How to Buy $SPONGE Tokens – Step-by-Step Guide?

The step-the by-step guide below will simplify buying $SPONGE tokens using the Uniswap widget on the Spongebob website.

Step 1: Set Up a Web3 Wallet 

If you haven’t already, install a web3-compatible wallet like MetaMask, Trust Wallet, or Coinbase Wallet. Create an account and securely store your recovery phrase.

Step 2: Fund Your Wallet

Transfer Ethereum (ETH) to your wallet address from a crypto exchange or another wallet. You’ll need ETH to purchase $SPONGE tokens and cover gas fees.

Step 3: Go to the $SPONGE Website

Go to the official $SPONGE website and locate the Uniswap widget.

Step 4: Connect Your Wallet 

Click “Connect” on the top right of the widget and approve the connection with your web3 wallet. You can also directly link your Uniswap wallet in this step.

Step 5: Select the Token Pair 

Choose $SPONGE as the token you want to buy and ETH as the payment token.

Step 6: Input the Desired Amount & Review the charges

Specify the amount of ETH you want to spend or the number of $SPONGE tokens you want to buy. Then, Review the slippage tolerance and gas fees. Slippage tolerance accounts for price fluctuations during the transaction process.

Step 7: Confirm the Swap 

Click “Swap” and review the transaction details, including the exchange rate, gas fees, and slippage tolerance. Approve the transaction in your wallet and wait for the transaction to be confirmed on the Ethereum network.

You can also choose to swap tokens via Dextools. To do so, you can follow these steps:

Step 1: Go to Dextools

On the top right of the Spongebob website, you can click the Dextools icon to trade the token via Dextools.

Step 2: Connect Wallet

Now connect your wallet on the Dextools.io website (on the top right of the platform). Ensure you have enough crypto to swap the $SPONGE tokens and cover gas fees.

Step 3: Enter Swapping Details

Locate the DEXTSWAP tab and enter the amount of ETH you wish to swap for $SPONGE tokens. Then click “Approve” and confirm the transaction.

Double-check the token’s contract address and other information before executing any transactions to avoid potential scams or purchasing the wrong token.

Conclusion

The SpongeBob token shows promising potential to attract growth investors. Currently, the meme token can be acquired on leading decentralized exchange Uniswap or several centralized exchanges including MEXC and LBank.

Drawing inspiration from the immensely popular SpongeBob SquarePants animated series and built upon the Ethereum network, $SPONGE seeks to carve out a niche as a leading meme coin while nurturing a community-centric digital asset. The token presents an exciting opportunity in the ever-expanding meme coin market.

It still has a small market cap and small holder count, showing the token still has huge potential for growth.

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