The current period is a challenging one for the global cryptocurrency market. While Pepe Coin wallet is seeing suspicious transactions, some presale campaigns are attracting investors’ attention.
The growing popularity of digital currencies and their acceptance are the main reasons for the large number of presales. While it is not easy to choose a successful project, there are a few criteria to consider. These include tokenomics, development team, community, marketing, and how the coin can be used.
With these factors in mind, analysts are emphasizing two projects – Sonik and Wall Street Memes. Despite the fact that both assets are meme coins, they are not without utility.
Proven meme tokens with useful features and growth prospects in September
The concept of meme coins is focused on speculation, while useful tokens offer their holders various ways to earn money or other opportunities. The digital currencies on this list combine both niches, creating a new kind of asset:
- Sonik, a token whose presale recently began, brings diversity as well as utility to the cryptocurrency market thanks to steaking. Over $1,000,000 has been raised and the presale will close today.
- Wall Street Memes is a meme coin that came into existence thanks to the saga of the legendary WallStreetBets community. The final stage of the presale is now underway, during which the token can be purchased for just $0.0337. More than $25 million has been raised.
Sonik
Sonik Coin (SONIK) is a new meme cryptocurrency that aims to become the token that most quickly reached a market capitalization of $100 million, with over $1.25 million raised in two weeks of the presale.
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One of the main reasons for the popularity of this meme token is that the new staking cryptocurrency offers an attractive APY (annual percentage yield). In the first few hours after the launch of the steaking mechanism, 90 million SONIK tokens were placed. Now, the amount of locked assets in the smart contract exceeds 26 billion and the estimated passive income is 90% APY.
Given the recent success of the PEPE coin, which has no use case, there is growing optimism that SONIK could generate more interest through staking.
Crypto analyst Jacob Crypto Bury was the first to come forward with a prediction of a 10x increase in SONIK’s value. The digital currency’s prospects are also boosted by the project’s unique branding, which is based on the popularity of Sonic the Hedgehog.
The SONIK pre-sale has only one stage, and more than $1.25 million has already been invested in it. The value of the token during the pre-sale is $0.000014. Investors should hurry up as the presale will end today.
Additional pros:
- The recognizability of the cryptocurrency’s token could give Sonik Coin an advantage when recruiting viral momentum.
- By placing a token, SONIK owners can make a tangible impact by helping the development team reach their goals.
- Investors have more power than just buying and selling the token, further emphasizing the community-oriented nature of the project.
Wall Street Memes
Wall Street Memes (WSM) is a massive project tokenizing the movement of a community of retail investors who took a stand against the Wall Street monopoly. This is exactly how the new token appeared before crypto-enthusiasts, having raised more than $25 million during the current pre-sale. This is an almost unprecedented result for meme startups that have not yet entered the DEX market.
The year 2023 has been a good year for meme coins and has shown that these assets rely heavily on their community. In particular, the number of fans of Wall Street Memes exceeds 1 million. Crypto-enthusiasts broadcast their vision of the finance market through memes, which contributes to the involvement of new participants in the community. In social network X alone, the community’s pictures are viewed by more than 40 million people every month.
However, the token’s greatest potential for development may be the inclusion of a steaking mechanism. This is an attractive feature that reduces the sales pressure of the initial coin offering. In addition, it confirms the long-term orientation of the project.
Taking into account the dynamics of token placement, at the time of writing, the owners of the cryptocurrency can receive passive income in the form of 81% per annum. Nevertheless, the final profit will depend on the number of WSMs sent to the smart contract of steaking.
The WSM pre-sale period is coming to an end, but traders can still purchase the coin at below market value. Right now, one WSM is worth $0.0337.
Cryptocurrency Features:
- The continued growth of the WSM community is likely to be the impetus for Tier 1 CEX listings.
- Due to the team’s previous experience based on the $2.5 million sale of NFT, this coin has a better chance of success.
- The community behind this meme coin has caught the attention of Ilon Musk, who comments on crypto-enthusiasts’ posts.
What happened to PEPE: why investors are abandoning this cryptocurrency
PEPE, a popular meme coin, experienced a sharp 20% drop on August 25. The day before the decline, the cryptocurrency’s price was $0.000001, and within a few hours it fell to $0.0000008. At the time of writing, the asset has recovered a bit in value and is trading at $0.0000008668.
The fall of the meme coin is due to changes made by its anonymous creators. As reported by representatives of the research company ASXN, the PEPE wallet changed the number of signatures required for a transaction (from 5/8 to 2/8).
ASXN employees claim that this happened after sending $16 million, which is equivalent to 16 billion PEPE tokens, to various exchanges. Thus, $8 million in this cryptocurrency was transferred to OKX, $6 million to Binance, $438k to Bybit and another $400k to an unknown address. After that, $10 million remained on the multi-signature PEPE wallet.
According to the opinion of one trader expressed in social network X, PEPE tokens were sold on the market. However, the expert emphasized that it is impossible to claim this, as no one has seen the transaction on the blockchain or exchange. Moreover, the crypto expert identified three major problems with the recent changes:
- The team behind the coin has another 10.7 billion PEPE left for developers to sell. This represents 2.5% of the remaining supply.
- The token’s official website stated that 6.9% of the total supply would remain locked, and no such policy change was planned.
- If one developer has the ability to reduce the number of signatures required to complete a transaction, it means that they have controlled the coin from the beginning.
In addition, other traders are beginning to suspect the Pepe Coin project of possible fraud. To dispel the fears, one of the team members published new details on the official X-account of PEPE Coin.
According to the programmer, he was scammed on August 24 when three other developers sold tokens. The expert added that he started talks with some community members who will help him make PEPE a decentralized project. However, the veracity of these claims can be questioned as the information has not been verified.
Conclusion
Against the backdrop of the meme-coin revival, WSM and SONIK are attracting everyone’s attention among crypto-enthusiasts. Of course, their future potential depends on the influence of the community, as well as the extent to which developers manage to realize the utility of coins.
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Author: Saifedean Ammous, an expert in cryptocurrency economics.
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