![Bitcoin and Ethereum Price Continues to Struggle While Sonik Coin Raises $660,000](https://captainaltcoin.com/wp-content/uploads/2023/08/bitcoin1-2000-7912c2175848490f99c66fb1a93a77ba-sixteen_nine.jpg)
The general cryptocurrency market continues to battle as the value of Bitcoin and Ethereum fail to realize any upside momentum.
The worth of Bitcoin is now down a steep 30% over the past month, with Ethereum down a smaller 12%.
Regardless of the rocky market circumstances, a number of lesser-known meme cash are gaining traction.
Specifically, Sonik Coin ($SONIK) has raised $660,000 through the latest market wipeout, demonstrating the rising FOMO behind the challenge as traders search for speedy returns with Stake-2-Pace.
As well as, whales proceed to pile into Wall Street Memes ($WSM) as the ultimate stage of the presale thrives.
Bitcoin Struggles to Achieve Momentum Above $26,000 and Trades Sideways in Vary.
The worth of Bitcoin remains to be struggling to realize any momentum above $26,000 since plunging by over 10% a fortnight in the past.
Earlier than the value collapse, Bitcoin had been buying and selling in a descending value channel, holding assist at $28,650 (June 2021 lows).
Sadly, the collapse of Evergreen in China and the information that Elon Musk’s Tesla and SpaceX had offered their BTC holdings despatched the value of Bitcoin crashing.
The cryptocurrency is now down by a complete of 18% from its 2023 excessive set in mid-July and is at present buying and selling sideways inside a variety between $26,400 and $25,770;
![](https://captainaltcoin.com/wp-content/uploads/2023/08/image-820-1024x522.png)
Wanting forward, the primary degree of assist lies on the decrease boundary of the vary, round $25,770. That is adopted by assist at $25,415 (Might 2022 lows).
If the bears proceed to pull the market decrease, extra assist lies at $25,000, $24,755 (June 2023 lows), $24,235 (December 2020 resistance), and $24,000.
Beneath this, assist could be anticipated at $23,000, $22,650 (December 2020 assist), $22,000, and $21,600.
The RSI exhibits that the momentum is wholly within the bears’ management and fails to realize any upside potential.
Ethereum Battles to Maintain $1,650 as Bearish Stress Mounts
Ethereum can be struggling to realize any upside momentum because it battles to carry the $1,650 degree.
Ethereum is now down 22% from its all-time excessive set in April. The coin was despatched decrease through the BTC value collapse, sending the value as little as $1,558.
It has since recovered however is failing to interrupt above a descending pattern line;
![](https://captainaltcoin.com/wp-content/uploads/2023/08/image-821-1024x522.png)
Wanting forward, the primary degree of assist lies at $1,650 (June 2021 lows). That is adopted by assist at $1,600, $1,588, $1,550, and $1,510 (March 2021 lows).
If the sellers proceed beneath $1,500, added assist lies at $1,488, $1,466 (draw back 1.414 Fib Extension), and $1,420.
In the meantime, Sonik Coin Sees Epic Progress Throughout Turbulent Crypto Interval
In the meantime, as the remainder of the market tumbles, a newly rising meme coin begins seeing some epic progress as traders rush towards the possible 10x return.
Sonik Coin ($SONIK) solely began its presale round ten days in the past however has already managed to boost a powerful $660,000 in fundraising.
![](https://captainaltcoin.com/wp-content/uploads/2023/08/image-822-1024x683.png)
Described because the moronic meme recreation of the world-famous Sonic the Hedgehog, Sonic Coin has the potential to go viral because it’s based mostly on the gaming sector’s most beloved character.
Whereas Sonic the Hedgehog runs via maps accumulating rings, Sonik is accumulating $SONIK tokens to gasoline his capitalist ego.
The character desires to make use of his misleading pace to pump $SONIK to make it the fastest-ever meme coin to go from a $0 to $100 million market cap.
One function the challenge makes use of to attain that is the groundbreaking distinctive Stake-2-Pace mechanism.
This staking utility permits the $SONIK neighborhood to earn further tokens for staking their holdings for no less than seven days.
It’s distinctive as a result of it permits token holders to start out staking their tokens even through the presale earlier than they’re claimable.
In consequence, traders have already rushed to lock round 23 billion $SONIK tokens within the staking contract, incomes them an APY of roughly 100%;
![](https://captainaltcoin.com/wp-content/uploads/2023/08/image-823-1024x337.png)
Consultants imagine this function will create a provide scarcity in the marketplace for brand new consumers, inflicting a sudden surge in value as soon as launched.
Everyone knows Sonik can run on the pace of sunshine – 299,792,458,000 m/s. Due to this fact, just below 300 billion $SONIK tokens will probably be in circulation.
Of that provide, half is being offered within the presale at a single value of $0.000014. The challenge goals for a modest $2.1 million onerous cap within the presale, offering room for distinctive progress potential as soon as the challenge has launched.
As well as, the presale and launch value would be the identical to make sure a good and clear launch for traders.
Of the remaining provide, 40% will probably be locked within the staking pool to offer rewards for 4 years, and 10% will probably be reserved for the DEX to make sure a steady buying and selling setting.
![](https://captainaltcoin.com/wp-content/uploads/2023/08/image-824-1024x638.png)
The good contracts have been submitted to be audited so traders could be assured concerning the safety of the challenge. The workforce will publish the outcomes on the web site after the audit.
Total, traders are speeding to this challenge as they’re eager on a speedy 10x return with the Stake-2-Pace operate.
With such a tiny hard-cap goal, the presale isn’t anticipated to final an excessive amount of longer.
Due to this fact, traders are inspired to get positioned earlier than the token hits exchanges and begins to pattern throughout widespread platforms like X and DexTools.
What Different Tokens Are Seeing Robust Momentum?
It’s not simply Sonik Coin that’s beginning to see sturdy momentum through the latest total market crash.
Buyers are speeding to hedge their portfolios in initiatives that they will imagine will present outsized returns within the subsequent few weeks whereas the general market sinks.
Moreover, as presales supply closed markets, traders can shield their ETH from additional draw back motion by parking in presales.
One other presale gaining sturdy momentum is Wall Street Memes ($WSM), which is witnessing elevated FOMO in its final presale stage.
Wall Road Memes Sees FOMO Enhance in Final Presale Stage
Wall Street Memes ($WSM) is one contender specialists imagine can develop into the following meme coin sensation in the marketplace and supply comparable returns to $PEPE.
The challenge has already raised properly over $25 million in its presale, making it one of the crucial sought-after tokens within the house.
![](https://captainaltcoin.com/wp-content/uploads/2023/08/image-825-1024x341.png)
With the presale in its final stage, traders are scrambling to get positioned in $WSM as they anticipate huge returns of as much as 50x on their small funding.
Wall Road Memes is a challenge making a mockery out of Wall Road via hilarious memes on social media.
These memes have develop into so widespread that they generate over 40 million month-to-month impressions on X/Twitter.
The memes have even attracted the eye of Elon Musk, who’s been seen commenting on the truthful that means behind the memes on a number of events;
![](https://captainaltcoin.com/wp-content/uploads/2023/08/image-826-783x1024.png)
🤣
— Elon Musk (@elonmusk) April 22, 2023
The curiosity from Musk sparked a wave of hypothesis as whales rushed to get positioned in $WSM.
One whale just lately purchased $850,000 value of $ETH in a single transaction, demonstrating his extraordinary confidence within the challenge as he expects huge income;
![](https://captainaltcoin.com/wp-content/uploads/2023/08/image-827-1024x231.png)
You see, the recognition of the memes has helped Wall Road Memes domesticate a cult-like neighborhood of over 1.1 million followers.
Consultants imagine that this cult-like following just about ensures $WSM an inventory on a tier-1 trade like Binance or OKX, which might checklist the token to reap the benefits of the big buying and selling quantity;
As well as, the tokenomics behind the challenge are designed to make it totally community-driven, with the workforce refusing to allocate any for themselves.
As a substitute, half is offered within the presale, and the opposite half is reserved for neighborhood rewards and including liquidity to centralized and decentralized exchanges.
Total, Wall Road Memes has created the proper mix of web tradition, meme-based humor, and FOMO to show it into the following meme coin sensation in the marketplace.
Nevertheless, with the presale in its closing stage, you’ll must be fast to get positioned or face the ache of paying larger costs as soon as the token launches on tier-1 exchanges.
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