As the most popular cryptocurrencies record a remarkable drop, Sonik Coin, the new meme coin, has just raised over $300,000 from investors. It is on its way to becoming the fastest crypto to reach a market capitalization of $100 million.

Although not affiliated with Sonic the Hedgehog, Sonik Coin draws inspiration from the meme and its iconic status in the cultural zeitgeist of games and the internet. At the last score, his presale raised $307,659.

All crypto memes seek to harness their viral potential, and in that regard, $SONIK has the wherewithal to succeed, as the website's enticing art indicates.

However, $SONIK is a meme coin offering token holders the tangible certainty of earning staking rewards. All token holders need to do to benefit from the utility of SONIK is to deposit into the staking smart contract.

Many early buyers use their funds immediately by choosing to buy and stake the tokens they just acquired, even before the presale ends.

According to Sonik's staking dashboard data, 11,434,202,900 tokens have been staked out of a total supply of 299,792,458,000 tokens.

$Sonik staking

At first glance, the total token supply of $SONIK may seem oddly random, but upon closer inspection, you might recall that the speed of light is 299,792,458,000 meters per second.

In fact, 50% of the total supply is allocated to presale, 40% to staking, and 10% to exchange liquidity.

Doing the math means that 7.6% of the total presale token allocation has already been staked. The project aims to raise $2,098,547 for $0.000014.

Sonik sells 'much speedy,' takes advantage of yield and price appreciation

The current fundraising of $307,000 represents 14% of the hard cap target, meaning more than half of buyers are staking their tokens, demonstrating the attractiveness of the return potential of the project.

The presale could be sold out by next week at the current rate. Potential buyers must, therefore, be speedy in their decision-making, as Sonik jargon dictates.

Staker tokens are locked in the smart contract for at least seven days after staking. Staked tokens earn money as long as they are staked.

It is optional to fix the period you wish to stake in advance. Instead, simply withdraw from the prize pool anytime after the minimum blocking period of seven days.

$SONIK rewards are distributed at $9125 SONIK per Ethereum block over four years. The amount earned depends on the percentage of the staking pool held and the duration of the staked tokens.

In addition to the passive income generated by staking, investors will benefit from a capital gain when the price of cryptocurrencies increases, increasing the value of the token rewards.

SONIK could be the next $PEPE

Indeed, the upside potential of the $Sonik token is more significant thanks to its low market cap of $2,098,547. To go from $2 million to $100 million would require a gain of 4,665%, which is quite possible for a successful cryptocurrency like $SONIK.

For comparison, sensational memecoin PEPE has returned 3,825%, a 38x increase, from its all-time low to its current price of $0.000001084.A $1,000 investment in $SONIK could be very profitable and yield up to $50,000 or even $100,000 if Sonik increases its number of presale buyers by 50 or 100 times.

The characters on the website, which are very similar to memes, give an idea of ​​the endless fun the artists will have with Sonik and his friends. While it's hard to figure exactly how much Sonik's currency can rise, its pawning feature means that when it launches on exchanges such as Uniswap, the selling pressure will be eased.

Staking helps mitigate the effect of a coin being dumped when launched by short-term buyers at the expense of those committed to the project's long-term potential. Recently, several tokens have been found with a similar staking model to $SONIK, and they all continue to make money for their investors. BTC20 and XRP20 are tokens that have been trading in the green since their launch and are profitable for their holders.