The merit system is making a big change in the entire forum activities. Along with that it is hard to give merits finding good quality posts. For this reason I've planned to go through each and every section of the forum and merit to qualified posts. In this regard is there any limitations in spending of merits for a day or any time gap to send merits. Because we have time gap for each ranked member to make posts, before that we cannot make posts.
As long as you are not abusing the system for your personal gain, then no. There is absolutely no reason why you cannot spend your entire stash of sMerits in one day, or even 1 hour. In fact it probably helps with the merit distribution.
You can merit any post that you see fit to be merited.
But keep in mind that the merit system is completely public so if you are found to be meriting shitposts(not saying that you are or will), then obviously there will be neg trust handed out.