New crypto to watch: Stake-to-earn Sonik meme coin raises $400K
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Brand new meme coin project Sonik Coin ($SONIK) is racing towards its presale hard cap at the speed of light, reaching $400,000 in just over a week.
The high-potential token has continued to build huge hype and excitement since its launch despite a tough week in the crypto month for the crypto market that has seen most major coins suffer heavy losses.
SONIK is based on the hugely popular Sonic the Hedgehog character and is building towards a $100 million market cap.
The project, which has no affiliation with the video game franchise, also offers lucrative staking rewards and vast meme coin potential.
SONIK Presale Heading for a Quick Sell Out
The developing team for Sonik Coin have set a small hard cap of just $2 million as the project aims to make an instant impact in the meme coin space.
With more than 15% of its presale allocation already sold in just a week, the ICO is not expected to last long as buyers gain awareness of the project and hype continues to build.
50% of the 299,792,458,000 max supply has been set aside for the presale with tokens on sale at a fixed price of $0.000014 throughout to ensure a fair launch for all.
That max token figure is meme-worth as it is the speed of light and the speed at which Sonic can travel as he collects his rings.
Its small hard cap will mean the project will be valued at just $4 million when it lists on Uniswap after the presale sells out, a modest figure that leaves room for exponential growth and huge potential for gains.
Staking Already Live with 11.5 Billion Tokens Staked
Another major feature of $SONIK is that it is stake-to-earn, allowing token holders to generate passive income by adding their tokens to a staking pool.
The feature has already been hugely popular with more than 14.5 billion tokens already added to the staking cool - more than half the total purchased during the presale so far.
In fact, that figure means almost 8% of the entire presale allocation has been locked in just a week.
Staking allows holders to generate a passive income and, at the time of writing, that staking amount would equate to an estimated annualized percentage yield of 209% with 9,125 SONIK generated per Ethereum block.
Of course, as more tokens are added to the staking pool the rewards will drop, but the likes of BTC20 have recently shown that staking can have a huge impact on price.
That project already has a fully diluted market cap of more than $25 million and saw tokens reach 6x gains after launch as its price held due to the large volume of tokens being staked.
Staking Means Sonik Coin Will Outlast Other Meme Coins
Hundreds of meme coins have launched in recent months amid a meme coin frenzy that has seen the likes of Pepe, Wojak, Sponge and various other make huge gains.
However, for every success, there have been dozens of failed projects that never take off from launch and are dead within 24 hours.
Sonik Coin should have no such issues with having a longer life cycle, with staking also ensuring the project is around in the long term.
The supply and staking rewards are unlocked over four years, meaning those who stake tokens can generate rewards for at least that long.
Once the project lists after presale selling pressure will also be muted as a large portion of tokens are locked in the staking pool and generating rewards.
Huge Gains Predicted for SONIK
Despite being just a week old, Sonik Coin has already become a darling for crypto analysts and influencers.
Popular YouTuber Crytpo Gains, who has 107,000 subscribers, described SONIK as the next PEPE and believes it could see 20x gains after launch.
Crypto Tony, a French-speaking YouTuber, went a step further and believes it could have 100x potential, while it was also featured on presale specialist Jacob Crypto Bury’s channel.
Crypto ZEUS also told his 66,000 subs that SONIK has PEPE-like potential.
Robust Tokenomics and Audit
As with any presale token, it is always vital to understand the tokenomics and whether the project is safe and secure.
As mentioned above, SONIK has a max supply of 299,792,458,000 with 50% of those tokens allocated to the presale.
A further 40% is reserved for staking, unlocked over four years, with the final 10% reserved for listing on Uniswap.
The developers, who are anonymous but have a long track record of success in the space, have also had an audit of the smart contract completed and published it for the public.
Undertaken by 0xGuard, each line of code has been checked and secured, with the audit proving that Sonik Coin is 100% legit and scam-proof.
The presale remains open with buyers able to purchase SONIK tokens at sonikcoin.com with either ETH or USDT.
For more information and the latest news on the project, read through the whitepaper or join the Sonik Coin Telegram group.
This is a sponsored post. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by the external author of the post. You should be aware of all the risks associated with trading. Cryptocurrency presales can be very risky investments as the assets have yet to be proven in the market. Some or all the tokens mentioned in the articles may be devalued or subject to scams, and investors may lose all capital as most of these assets lack proper due diligence. FXStreet is not responsible for any losses incurred from investments in crypto presales.
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