PEPE Is Down While SONIK Coin is Minting Profits for Investors in Presale
PEPE has been significantly declining in the past few days, leading traders to seek other alternatives. Theprice of PEPE is down by 5% and is trading at $0.000001189.
Also, the volume is over $133m indicating a 15% increase in the last 24 hours. But will PEPE rise again? Let's see.
Price Trends of PEPEPEPE has been among the most watched PEPE tokens in the past weeks. PEPE has entered a prolonged downward trajectory following the explosive rally that propelled it to the limelight, earning it a listing on top centralized exchanges.
However, in the last seven days, the price of PEPE has been down by 3% and 21% in the last 30 days. The bearish momentum has continued today, with an over 5% price decline in the last 24 hours.
Technical indicators on PEPE
As shown on the chart, the price of PEPE is trading below the 50-Day Simple Moving Average (SMA), suggesting a temporarily bearish price action.
The 50-day SMA is acting as a resistance to the price of PEPE. If the asset successfully breaks above this level, it could signal strong bullish momentum in the market. Also, the MACD indicator is above the signal line with green histogram bars, indicating short-term bullish market activities.
The Relative Strength Index at 42.96 suggests an equilibrium between the market forces. But the RSI points upwards, suggesting a slight strength recovery for buyers. If this becomes prominent, PEPE could recover momentum to rally in the coming days.
Key Price Levels for PEPE
The price of PEPE is showing momentum for a possible rally to its resistance zone of $0.000002. This rally would signify a bullish price trajectory. However, failure to trade past this zone could push back the price to retest its previous support level of $0.00000101.
Expert Price Prediction for PEPEBased on analysis from Cryptonewsz.com for Pepe coin's future value, the projected range indicates a potential low of $0.0000011 in 2023. Conversely, findings suggest that the upper limit of PEPE's price could reach approximately $0.0000023, while the anticipated average stands at $0.0000016.
Considering Pepe's price volatility at the start of 2023, industry specialists at Changelly anticipate an average PEPE value of $0.00000122 by August 2023. Potential price ranges include a low estimate of $0.00000110 and a high estimate of $0.00000126.
Conversely, Telegaon offers a more conservative outlook, predicting an average price of $0.00000805 for PEPE. Telegaon's projections for 2025 range from a minimum of $0.00000738 to a maximum of $0.00000893.
In the upcoming year, 2024, an examination from Coinpedia indicates that PEPE's price will likely fluctuate between $0.000002975 and $0.00000471372. The projected average PEPE price for this period is approximately $0.00000384436.
$SONIK is The Next Meme coin with $100m Market Cap Potential
Sonik Coin, a recently emerged meme coin, takes inspiration from the iconic Sonic the Hedgehog character, created by Sega in 1991. The objective of the $SONIK initiative is to achieve a market capitalization of $100 million.
At its launch, the token's market capitalization will slightly exceed $4 million, implying a potential growth of 25x for those who invest in the early stages.
Features And tokenomics$SONIK functions as an ERC-20 token operating on the Ethereum blockchain. The token's overall supply comprises 299,792,458,000 units, a numerical representation of the speed of light in meters per second.
This creative choice is a homage to Sonic the Hedgehog's renowned rapid pace in video games.
50% of the token supply is set aside for the initial $SONIK presale, with a hard cap of $2,098,547. Among the tokens that are left, 40% have been designated for staking incentives,
By the details outlined in Sonik Coin's whitepaper, the tokenomics strategy allocates an additional 10% towards exchange liquidity to reduce potential price fluctuations after the launch. The remaining 10% is securely held to ensure exchange liquidity.
The staking mechanism of this meme coin extends its utility beyond mere trading and speculative possibilities. Investors who stake their $SONIK tokens can accumulate significant annual percentage yield (APY) returns.
Sonik Coin's official website outlines that the current staking APY exceeds 4,300%, and around 555 million $SONIK tokens have already been committed to staking. The staking protocol introduced by Sonik Coin serves the purpose of encouraging extended retention of $SONIK tokens, thus contributing to the stability of its price.
This staking arrangement is distinctive within meme coins, a domain often crowded with tokens needing more practical applications. By engaging in $SONIK staking, token holders can actively assist the development team in achieving their objectives.
Consequently, $SONIK holders are granted more influence than buying and selling, accentuating the project's community-oriented philosophy.
Can Sonic Be a Moonshot?Estimating the price performance of $SONIK is challenging. However, the positive sign emerges from the rapid acquisition of over $7,000 worth of $SONIK tokens within two days, indicating a promising outlook for this meme coin.
Other meme coins with similar profiles have yielded substantial returns, often reaching ten times their initial value within a few weeks of launch. Insights from analysts like Jacob Crypto Bury suggest that $SONIK might emulate the trajectories of meme coins such as $PEPE, $SPONGE, and $SHIB.
It's worth highlighting that none of these mentioned coins had staking rewards, potentially setting $SONIK up for even greater success as investors lock up their tokens, thereby constraining the available supply.
However, investors need to recognize that no certainties exist regarding the future trajectory of $SONIK. Nevertheless, there are compelling reasons to hold an optimistic stance toward this token, and the presale offers an opportunity to secure a favourable initial price point.
The public presale phase of Sonik Coin has recently commenced, designating 50% of the overall 300 billion $SONIK supply for initial investors.
$SONIK tokens are available at only $0.000014, allowing meme coin enthusiasts to participate in the project's early stages before its debut on a decentralized exchange (DEX) following the presale conclusion.
The project has raised over $96k in its token sale. Users can get $SONIK by visiting the presale site and purchasing using ETH/USDT.
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