Exciting new meme project Sonik Coin ($SONIK) has now raced to a $1 million raise in less than three weeks as investors rush to secure tokens ahead of the closing date next week.
There are now just 72 hours for potential buyers to secure their bag of SONIK with the presale to slam shut on Tuesday, September 5 – purchases have been ramping up ahead of the deadline with hundreds of thousands expected to pour in over the weekend.
After the presale closes SONIK will then be launched on leading decentralized exchange Uniswap, with rumors growing that that could be as early as the end of next week.
SONIK has quickly become a trending token across Web3 with investors excited by its massive meme coin potential and its generous staking rewards, which will offer holders a huge annualized percentage yield (APY).
What is Sonik Coin?
SONIK is the newest meme coin in the space and one that is racing towards a $100 million market cap as quick as the hedgehog it is based on.
The project, which has no affiliation to the hugely popular video game franchise, only launched in mid-August but has quickly gained mass appeal as it broke through the $1 million barrier.
Now, SONIK is set for a hair-raising weekend of purchases ahead of its closing date.
While Sonik is a proud meme token with huge viral potential it also offers something that many shitcoins in the space do not – utility through its mass staking mechanism.
The staking pool will generate passive income for holders that lock their tokens into it and, at the time of writing has already been a huge success.
According to the project’s staking dashboard, more than 33 billion tokens have been added into the pool with a current reward of 9,125 SONIK per simulated block – that means stakers are currently getting an estimated APY of 71%.
While that figure will drop as more tokens are added to the pool, Sonik has a four-year unlocking period which will ensure its long-term health.
Many meme coins suffer from a quick boom and bust lifecycle, suddenly rising in popularity before fading into obscurity.
The staking pool and rewards will help Sonik stay relevant for years to come.
Presale buyers can purchase tokens and immediately lock them into the pool to earn the APY, although there is a minimum lock period of seven days.
Sonik has quickly become a darling of the crypto world due to its staking, viral potential and robust tokenomics.
Numerous crypto analysts have described it as having 10x to 100x potential, while YouTube crypto analyst Michael Wrubel, who has over 300,000 subscribers, called the token his “next $1,000,000 meme crypto”.
CryptoAlert, who has 35k followers, also believes the project ‘could explode’ once its listed on exchanges.
The project is underpinned by robust tokenomics, SONIK has a max supply of 299,792,458,000 which is the speed of light and the speed at which Sonic the Hedgehog can run.
50% of the supply has been made available during the presale, with one round offering tokens at a fixed price of $0.000014.
With 33 billion tokens added to the staking pool already that means around 50% of the number of tokens that have been purchased so far have already been added to the staking pool.
A further 40% is being reserved for the staking pool and the final 10% is reserved for liquidity on exchanges.
Although the team is anonymous, like with most meme coin projects, they have taken steps to ensure legitimacy, including undertaking an audit with 0x Guard and publishing the results for the public to see – with nothing malicious found.
With just 72 hours remaining until the presale closes, potential buyers will need to move quick to secure their SONIK tokens ahead of a listing on Uniswap.
For more information and the latest news on the project, join the Sonik Coin Telegram group.