There is a new trend that looks like it could be hitting the meme coin market and potential investors will want to jump on coins that offer it. Staking is normally reserved for altcoins but recently there have been one or two projects featuring it alongside a meme coin and it has proved very successful.
The latest meme coin launch to do this is Sonik Coin (SONIK) and it looks like it has the potential to be a serious player once it hits the market. Meme coins have been enjoying a huge market share of investment so far in 2023 and it has encouraged more and more innovative projects. Sonik Coin is the latest that looks like it will grab the attention of investors.
What is Sonik Coin?
Although based on Sonic the Hedgehog, Sonik Coin is not affiliated with the cartoon character. As you can see from the official website it is nearly an original creation or maybe just the little brother of Sonik who is just a bit slower. He means well though and instead of collecting coins as Sonic does, Sonik collects Sonik tokens for his investors.
The site is really a laugh riot and investors will almost certainly be drawn in by the charm of it all. We in particular loved their synopsis of Sonik:
“Sonik is a speedy lil’ bastard. Pro’lly a hedgehog? A speshul boi, obsessed with becoming the Fastest 0-100M MC meme coin. STAKE-2-SPEED your Sonik tokens with impressive APY% to earn, while providing Sonik enough BOOST to reach the MOON!”
We can’t put it any better than that ourselves. Sonik may be a little confused but he is very good at being a meme coin icon. Many people are not sure how fast he is but some estimate he is the speed of light (299,792,458,000 m/s) that is why the total token supply has been set at that figure too as a clever little nod by the inventors.
Tokenomics
As we mentioned above the total supply of SONIK will be 299,792,458,000 billion. The breakdown of this goes:
- Presale- 50%
- Staking- 40%
- Liquidity- 10%
Two things that stand out are the amount of coins that are set aside for staking. This will provide a huge opportunity for investors to fatten their crypto wallets but we will get into that below. The other factor that stands out is 100% of the coins are for the people. Nothing is going to anything shady like market deals etc so you know Sonik Coin only has the people in mind.
Staking
We mentioned above how staking has been becoming very successful lately with meme coins but also with ‘20’ coins which are kind of second versions of successful coins. Sonik Coin will be hoping to follow in the footsteps of BTC20 (BTC20) which is a coin that found success basing itself on Bitcoin when it was just $1 back in April 2011.
They employed a staking concept very similar to that of Sonik Coin and over two-thirds of BTC20 holders staked their coins. This led to the price of BTC20 pumping by 6x the moment it began its listings. Although the presale has just begun many experts think SONIK can even outperform these numbers.
Sonik wants to be the fastest crypto to a $100 million market cap
Sonik by name Sonik by nature. The project not only hopes to represent a fast meme coin but also hopes to be the fastest coin to reach a $100 million market cap. A lot of this will be driven by its staking plan and already we can see millions of SONIK have been staked by investors.
The staking should also provide security for investors. We mentioned that 100% of the total allocation is already for investors but the more coins are staked the more secure the project is. As you can already start staking now it means once the coin goes like on DEX the project will have a sturdy foundation and we have no need to worry about the bottom falling out of the project like it does with other meme coins.
The presale goal to hit has been set at $2,098,547. This is a trend smart projects are realizing is the best way to go. Rather than go through a long-drawn-out presale where hype builds and slowly peters out, Sonik Coin can instead enter listings right at the point of peak hype which investors can then capitalize on.
Conclusion
So to finish up, although the target of being the fastest crypto to reach a $100 million market cap is very lofty, we think this meme coin has the potential. Sonik Coin will appeal to meme coin investors that love the joke side of the business but will also be those interested in passive income and staking. Its catchment area is huge and that will likely make it a success.
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