SPONGE (SPONGE) isn’t a serious investment. It’s a memecoin - a cryptocurrency built on internet humor, not utility. Inspired by SpongeBob SquarePants, it launched in early 2023 as SPONGE V1 on Ethereum. It briefly caught fire, hitting nearly $100 million in market cap and handing out $100,000+ airdrops to early buyers. But that was over a year ago. Today, SPONGE V2 lives on Polygon, and the reality is bleak: SPONGE has only 8 known holders, $160,200 in market value, and almost no trading volume.
What SPONGE Actually Is (And Isn’t)
SPONGE is a zero-tax token, meaning no fees are charged when you buy or sell it. That sounds good, right? But most successful memecoins like PEPE or SHIB also have zero taxes. The difference? They have millions of holders and billions in market cap. SPONGE doesn’t. It’s a ghost town. The project claims it wants to build a Play-to-Earn (P2E) game. No such game exists. Not even a demo. No GitHub commits. No beta releases. No team updates. Just a roadmap that’s been frozen since late 2023. The entire project relies on hype from a cartoon character - and that hype is gone.The Numbers Don’t Lie
Here’s what the data says as of January 26, 2026:- Market cap: $160,200
- Price: $0.000326 (Binance)
- Total supply: 150 billion tokens
- Circulating supply: 40.4 billion (according to CoinMarketCap), but Binance shows 0
- Number of holders: 8
- 24-hour trading volume: $0 on CoinMarketCap, $29,626 on Binance, $17,298 on Uniswap
- All-time high: $0.002394 (May 8, 2023) - down 86%
Why Is SPONGE Still Alive?
It’s not because of demand. It’s because of desperation. The token trades mostly on Uniswap V3, where the entire liquidity pool is just $69,482. That means if you try to buy $1,000 worth of SPONGE, the price will swing by 45% just from your trade. You’ll pay way more than you expect - and when you try to sell, you’ll get way less. This isn’t trading. It’s gambling with broken odds. Binance lists SPONGE, but their data shows zero circulating supply. That’s impossible unless they’re showing fake data or the token is locked in a wallet no one can access. Either way, it’s a red flag.
Where’s the Community?
A crypto project without people is just code on a blockchain. SPONGE’s official Telegram group has 127 members. In the 72 hours before January 26, 2026, zero messages were sent. Zero. Not one. Not even a “hi.” Reddit has three threads about SPONGE. One asks if it’s a scam. Another wonders why anyone still holds it. The third is a bot posting price alerts. Trustpilot? No reviews. Twitter? One post from a user who said: “SPONGE’s 8 holders and $0 volume make it impossible to trade without massive slippage - avoid until liquidity improves.” That’s the most honest thing you’ll read about it.Is SPONGE a Scam?
It’s not technically a scam. No one stole funds. No one ran off with money. The contract was renounced. The first wallet is locked. That’s good. But it’s a dead project. And that’s worse. The SEC has warned that memecoins using pop culture icons with no real utility could be classified as unregistered securities. SPONGE fits that description perfectly. It’s a cartoon-themed token with no game, no team updates, no roadmap progress, and a holder count smaller than a small Discord server.
What About the Price Predictions?
Some sites like Godex.io claim SPONGE could hit $0.000263 by 2030. That’s a 76% increase from today’s price. Sounds promising? Let’s put that in perspective. If SPONGE hits $0.000263, its market cap would still be under $11 million. That’s 0.000026% of Bitcoin’s value. Even if you believe every single prediction, you’re betting on a token that will never be worth more than a few cents - and even then, only if the entire crypto market explodes. And that’s assuming the project somehow wakes up.Should You Buy SPONGE?
No. Not because it’s illegal. Not because it’s fraudulent. But because it has zero chance of succeeding. You’re not buying a coin. You’re buying a lottery ticket for a game that hasn’t been built, with a team that hasn’t spoken, and a community that doesn’t exist. If you have $100 to lose, and you want to feel like you’re part of a meme - fine. But don’t call it investing. Don’t tell your friends it’s a “hidden gem.” Don’t put it in your portfolio. Put it in a jar labeled “Fun Money - Do Not Expect Return.”What’s the Real Lesson Here?
SPONGE isn’t about crypto. It’s about human behavior. People chase past performance. They see “$100,000 airdrop” and think, “That could be me.” But markets don’t repeat themselves. What worked in 2023 doesn’t work in 2026. The real winners in crypto aren’t the ones who bought the most hyped memecoins. They’re the ones who held Bitcoin, Ethereum, or projects with real tech, real teams, and real users. SPONGE is a footnote. A cautionary tale. A reminder that in crypto, if there’s no community, no utility, and no progress - it’s already dead.Is SPONGE (SPONGE) a good investment?
No. SPONGE has only 8 holders, minimal trading volume, no working product, and no team updates since 2023. Its market cap is under $200,000, making it one of the least valuable cryptocurrencies. Even if the price rises slightly, the lack of liquidity and community makes it nearly impossible to trade profitably.
Can I buy SPONGE on Coinbase or Binance?
Binance lists SPONGE, but its data shows zero circulating supply - a major red flag. Coinbase does not list SPONGE at all. KuCoin explicitly states it has not been officially listed. The only place you can trade SPONGE is on decentralized exchanges like Uniswap V3, where liquidity is extremely low and slippage is high.
Why does SPONGE have so few holders?
Because there’s no reason to hold it. The promised Play-to-Earn game doesn’t exist. The community is inactive. The project hasn’t delivered on any of its stated goals since 2023. Most early buyers sold at a profit, and no new buyers have joined since. With only 8 holders, SPONGE has no network effect - the most important factor in crypto success.
Is SPONGE on the Polygon blockchain now?
Yes. SPONGE V2 moved from Ethereum to Polygon in late 2023 to reduce fees and support future gaming features. But the migration didn’t bring new users or development. The contract is live on Polygon, but the project has stalled. Documentation is sparse, and no new code has been pushed to GitHub since early 2024.
What’s the difference between SPONGE V1 and SPONGE V2?
SPONGE V1 was launched on Ethereum in early 2023 and briefly gained traction, reaching a $100 million market cap. SPONGE V2 moved to Polygon in late 2023 with a new contract and tokenomics. The V2 version claims to be focused on building a Play-to-Earn game, but no game has been released. V1’s community and liquidity have largely vanished, and V2 has failed to replace it.
Could SPONGE ever become valuable again?
It’s possible - but only if the team suddenly delivers a working game, secures listings on major exchanges, and grows the holder base from 8 to 10,000+ in a few months. No memecoin has ever done that after being this dead. Historical data shows tokens with fewer than 100 holders and less than $10,000 daily volume have a 98.7% failure rate within 12 months. SPONGE is already past that point.
Brenda Platt
I mean, SPONGE is basically the crypto equivalent of a party balloon that popped before you even got to the party 🎈💥. I bought $20 worth just to laugh, and honestly? It’s the most fun I’ve had in crypto this year. No regrets.