The speedy new meme coin Sonik Coin (SONIK) has exploded past $1.35 million in its presale after launching less than three weeks ago.
Now, investors are poised with just 20 hours remaining to buy $SONIK at its presale price or face buying it on the open market after its initial exchange offering (IEO).
With little time remaining, investors have begun piling into the presale at sonikcoin.com, opening the door to a possible sell-out due to its $2,098,547 hard cap.
The project will be listed on Uniswap, with rumors circulating it could go live as early as next week.
One of the main reasons for Sonik Coin’s successful presale is its unique Stake-to-Earn mechanism offering holders passive rewards with a generous annual percentage yield (APY) on their $SONIK tokens.
What Is Sonik Coin?
Sonik Coin is a newly launched meme coin inspired by the Sonic the Hedgehog franchise. The project has no official affiliation to the franchise but simply pays homage to it, establishing a nostalgic allure.
According to its website, Sonik Coin aims to be the fastest meme coin to reach a $100 million market cap. Considering the giants that stand before it, like Pepe and Shiba Inu, this is no easy task.
However, Sonik Coin’s growing presale success signifies a thriving and engaged community, which will likely carry over following its IEO. Visit the Sonik Coin Telegram channel to stay updated on the project’s latest announcements.
Sonik Coin’s premier feature is its Stake-to-Earn mechanism, offering holders passive rewards by simply staking tokens in the project’s smart contract. When writing this, the project offers an impressive 56% APY on staked tokens.
Furthermore, the Sonik Coin staking dashboard shows that over 42,000,000 $SONIK are staked, almost 25% of its current circulating supply.
As the amount of $SONIK tokens staked increases, the APY will drop. However, the project has a four-year vesting schedule to ensure its long-term health. Also, more tokens in the staking pool will add to the token’s scarcity, potentially benefitting its price.
Stake-to-Earn has proved a hot topic lately, with the popular Stake-to-Earn BTC20 doing a 6x following its presale.
Analysts Forecast 100x Gains
As well as catching the eye of meme coin investors, Sonik Coin has been touted by many prominent industry analysts.
According to YouTube analyst and trader Michael Wrubel (300K subscribers), Sonik Coin could do a 100x following its presale. The video highlights that Sonik Coin is well-positioned to pump due to the ongoing broader market conditions.
Another popular analyst, Jacob Bury (21K subscribers), predicts a 10x for Sonik Coin, calling it a Pepe alternative and highlighting its Stake-to-Earn feature as its main draw.
Meanwhile, Crypto Gains (107K subscribers) estimates a 20x for the meme coin. The analysis compared Sonik Coin to HarryPotterObamaSonic10Inu, which recently exploded to a $140 million market cap a couple of months after launching.
The final piece to the Sonik Coin project is its long-term, community-centric tokenomics. It has a total supply of 299,792,458,000 (incidentally the speed of light), with 50% of tokens available in the presale, 40% allocated to staking, and 10% for liquidity to enable seamless trading.
Sonik Coin’s entire presale has taken place at a single price of $0.000014, providing all investors an equal opportunity to buy $SONIK and encouraging community solidarity.
Finally, 0xGuard conducted a Sonik Coin audit to test the project’s security. Ultimately, the auditor reported that Sonik Coin is safe due to no malicious findings.
With just 21 hours until the presale ends, potential investors must be quick to secure their $SONIK tokens. Alternatively, you can buy them on the open market after its Uniswap exchange launch, but at a potentially higher price.