Heavyweight tokens are starting to crash as the market shows signs of uncertainty, with traders leaving many altcoins.
Over the past 24 hours, large projects like Apecoin ($APE), Luna Classic ($LUNC), and Pepe ($PEPE) witnessed severe drops in prices.
$APE is down by 10%, losing ground above $2. Similarly, $LUNC crashed 10% to fall as low as $0.00007, and $PEPE fell 9% to reach $0.00000125.
Despite the market turmoil, investors are starting to turn their attention to newly emerging memecoins, capable of providing a quick 10-20x return for early adopters.
In particular, Sonik Coin ($SONIK) is seeing traction as traders position themselves early in the groundbreaking Stake-2-Speed ecosystem.
What you'll learn 👉
Market Turmoil As Apecoin ($APE) and Luna Classic ($LUNC) Sink
The market saw a rocky 24 hours as some heavyweight altcoins saw considerable price drops. Although the top-10 ranked projects are holding up, a range of well-established alternatives are seeing convening downside price action.
For example, Apecoin ($APE) fell by a steep 10% as it lost ground at $2 and headed toward $1.8.
$APE has struggled throughout the entire year since peaking out at $6 in February, unable to establish any upside momentum.
For the past three months, the token has traded inside a downside price channel and was recently rejected by the upper angle;
Looking ahead, the first support for $APE lies at $1.75. This is followed by $1.73, $1.70, the lower angle of the price channel, and $1.55 (downside 1.272 Fib Extension).
Similarly, Luna Classic ($LUNC) fell by a steep 10%, falling beneath support at $0.000075 and reaching as low as $0.00006.
The coin was trading inside a descending triangle pattern in May 2023, but today’s shakeout caused the price to collapse beneath the base of the triangle;
Looking ahead, the first level of support lies at $0.000069. This is followed by support at $0.00006 (downside 1.272 Fib Extension – yellow), $0.0000563 (long-term downside 1.618 Fib Extension), and $0.000051 (downside 1.414 Fib Extension – yellow).
Meme Coins Also Affected With Sudden $PEPE Crash.
Some heavyweight meme coins seem to be struggling as PEPE ($PEPE) crashes by 9% to reach the current $0.00000125 level.
$PEPE isn’t in as deep waters as the aforementioned token, but today’s steep price drop is concerning.
The coin has been on a downward trajectory since breaking its range in July and is starting to establish a lower range between $0.00000147 and $0.00000106;
Looking ahead, the first support lies at $0.0000012. This is followed by support at $0.00000106, $0.000001, and $0.0000008 (.786 Fib & June lows).
Meanwhile, Newly Emerging Meme Sonik Coin ($SONIK) Sees Momentum
As well-established altcoins start to see downside price action, traders are beginning to turn their attention to newly-emerging memes coins they believe are capable of providing quick 10-20x returns while uncertainty lingers in the market.
In particular, Sonik Coin ($SONIK) is starting to reach all the headlines as analysts across the industry expect huge upside potential due to its groundbreaking Stake-2-Speed function that provides enormous APY returns.
Inspired by the world-famous Sonic the Hedgehog character, Sonik is the moronic meme recreation of SEGA’s best-selling franchise.
The project has the viral potential to be one of the industry’s hottest meme coins due to its similarities with the most likable gaming character in the world.
Sonik is on a mission to be the fastest growing memecoin in the industry and wants to use his deceptive speed to pump $SONIK from a $0 to $100 million market cap in a short period.
Instead of collecting rings like his legendary inspiration, Sonik collects $SONIK tokens to fuel his capitalist ego.
The project is currently undergoing a presale for its native token, $SONIK.
The tokenomics behind the project are intuitive and are designed to create scarcity on the open market through the staking mechanism.
Some say Sonik can run at the speed of light, which is 299,792,458,000 m/s. Therefore, the total supply for the token is 299,792,458,000.
Of the supply, 50% is sold in the presale for $0.000014 – aiming for a small and modest $2.1 million market cap.
The small market cap provides enormous room for upside potential, as it would only need to reach $20 million to provide 10x returns.
Of the remaining supply, 40% is allocated for staking rewards over four years, and 10% is reserved for DEX liquidity.
Lastly, the presale and launch price will be the same to ensure a fair and transparent launch, giving everybody an equal opportunity to profit.
Investors Intrigued by Unique Stake-2-Speed APY Returns
Although the presale just opened, investors are quickly rushing to get involved as they’re intrigued by the unique Stake-2-Speed staking mechanism that provides enormous APY returns.
The staking utility will assist Sonik in achieving his objective of becoming the quickest token to reach a 100 million market cap.
Presale buyers can earn extra tokens for staking their holdings for at least seven days in the staking contract.
Furthermore, presale buyers can purchase and stake simultaneously, allowing them to transfer tokens to the staking contract before the presale ends.
The APY for staking is impressive, and it gives flashbacks to the good old yield hunting days of yesteryear.
At the time of writing, over 500,000 $SONIK have been staked, providing an impressive 4,000 APY return.
It’s important to mention that this APY is expected to drop as more people enter the staking pool.
Experts believe that the staking function will create scarcity in the market, helping $SONIK to soar as soon as it launches on DEXs, as there will be a low availability to purchase if most $SONIK are locked in staking.
Those looking to purchase $SONIK on presale can visit the website and buy with ETH or USDT.
With a tiny hard cap, the presale isn’t expected to last too long before the token finally launches and starts trending on DexTools.
Therefore, prospective investors are urged to buy the token on presale or face the pain of paying higher prices once degens across the industry catch wind of the viral meme coin.
What Other Newly Emerging Tokens Are Turning Heads?
It’s not just the $SONIK coin gaining attention as heavyweight giants tumble.
Traders consistently seek low-cap gems they believe can provide a quick 10x return.
For example, Wall Street Memes has been the talk of the town in recent weeks and is now in the final stages of its presale.
The project has already raised over $24 million as whales start to experience FOMO with the few remaining $WSM available to purchase.
Wall Street Memes Raise $24 Million as Whales Take Notice.
Wall Street Memes ($WSM) has the entire industry’s attention as investors eagerly anticipate its token launch in the coming weeks.
The project has raised a staggering $24 million in its presale in just three months, making it the fastest-growing presale in 2023.
Investors are rushing to this project due to its unique ability to cultivate a cult-like community, meme-based humor, and attention earned from Elon Musk.
The project aims to make a satire of the greedy capitalists on Wall Street and expose our traditional financial system through meme-based humor on social media.
The memes posted have become so popular that they generate 40 million monthly impressions, making the profile the internet’s source for hilarious trading and finance-related memes.
The memes became so popular that Elon Musk started to take notice and has been commenting on the memes on several occasions;
🤣— Elon Musk (@elonmusk) April 22, 2023
The interest from the Twitter/X CEO caused a flurry of investment as whales and traders speculated about his association with the project.
One whale recently felt the FOMO and aped in with $850,000 to buy $WSM in one transaction – spending 460 $ETH;
Analysts are expecting enormous returns for this project, with some stating that the colossal community, which has over 1.1 million followers on social media, will get $WSM listed on major tier-1 exchanges after its launch;
He reasons that the colossal community will generate an enormous trading volume, which exchanges like Binance and OKX would look to capitalize on.
With most of the presale already snapped up, time is quickly running thin to get positioned in $WSM at presale prices.
The presale isn’t expected to be open much longer before it launches on tier-1 exchanges across the industry.
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