Amidst growing concerns over Pepecoin’s future and predictions suggesting it could potentially be reduced to zero, the crypto market has been witnessing an unsettling tumult. The PEPE has plunged -18% in just two days following a sudden shift in the multi-signature wallet requirements. Instead of adhering to the previous 5/8 signatures needed, now just 2/8 signatures are enough – a change that has not been welcomed by the not-so-delighted investors.
What seems to be troubling the community is this shift coinciding with PEPE’s trading at the rock bottom of the channel. PEPE’s failing effort to hold above the $0.00000105 price level has resulted in further -23% dip below the 20-day moving average. However, on the bright side, the Relative Strength Index (RSI) offers a small measure of relief with its indication of oversold at 29. Despite the Moving Average Convergence Divergence (MACD) signaling a bearish divergence, the downturn remains marginal and relatively insignificant.
While PEPE fans are being swept away by the disquieting storm, another token is breaking onto the scene and commandeering attention. The rising star of Sonik Coin ($SONIK) is currently creating substantial ripples in the market with its ambitious goal of swiftly reaching a $100 million market cap. The audacious aspiration appears attainable, considering its present trajectory and the success of its recent presale – a whopping $467,000 raised in under a week.
The primary attraction of the Sonik coin lies in its Annual Percentage Yield (APY) offerings. A striking 209% staking APY and the allocation of 50% of its 300 billion $SONIK supply to early investors set an inviting stage for those navigating the crypto world. Priced at a modest $0.000014 per token, the Sonik coin is making an entrance as an ideal early investment opportunity.
Moreover, its approach is not typical of the meme coin genre. It introduces an astoundingly high staking APY, intimating possible lucrative returns and symbolizing a promise of stability and longevity. The aim? By incentivizing token retention, the team hopes to curb drastic price fluctuations and foster steady growth.
Looking back at $PEPE’s astronomical growth delivering over 10,000% returns to its early backers, Sonik coin seems all geared up to follow suit, if not exceed. $SONIK’s out-of-the-box staking model paired with an enthusiasm-cheered brand image – an homage to the ever-popular Sonic the Hedgehog – could pave the way for an analogous, or even more remarkable, growth trajectory.
That said, it is important to maintain caution while investing in high-risk asset classes like crypto, without falling prey to the lure of colossal returns. Remember, the future of crypto hinges as much on its innovative tech as the market instability. Don’t flinch from doing your due diligence before riding any crypto wave, supersonic or not.
Source: Cryptonews
