Low-cap meme coins are rising in popularity once more, with XShiba Inu (XSHIBA) being the latest dog-themed token to see a massive pump.
XSHIBA’s value surged over 575% in the past 24 hours as speculators flock to get involved.
Among the array of new meme coin contenders, Sonik Coin (SONIK) is also attracting significant investor attention, with many believing it could be the next viral project to explode.
XSHIB Surges Over 500% Before Profit-Taking Correction
According to DEXTools.io, XSHIB is trading for $0.00000632 and boasts a market cap of nearly $65,000.
The token’s value was up by 575% earlier today, although it has since corrected – dropping 57% from its peak.
A correction like this is not uncommon with low-cap meme coins, especially those that experience such a significant price surge in a short period.
Rapid gains often lead to profit-taking, which appears to be the case here, as traders look to cash in on their gains.
However, XShiba Inu’s remarkable rise has led to a CoinMarketCap listing, giving the token increased visibility to a broader audience of investors.
This could prove vital, given that XSHIBA can currently only be traded on Uniswap and IndoEx – the latter of which is ranked the 42nd largest cryptocurrency exchange globally, as measured by daily trading volume.
Can XShiba Inu Sustain Its Momentum Beyond the Current Hype?
According to the XShiba Inu website, this community-driven token aims to empower and support the future of Shiba Inu (SHIB) and the Shibarium network.
Most of the XSHIBA supply has been set aside for Uniswap liquidity, although 4.9% is allocated for staking rewards.
Staking is XSHIBA’s primary use case, with token holders able to earn yields of up to 6% per month.
XShiba Inu’s team also plans to launch farming incentives and pursue further CEX listings.
However, like many hype-driven meme coins, there are already questions about the project’s long-term viability.
The lack of a clear roadmap and the project’s dependence on the performance of SHIB are potential weaknesses that could hamper XSHIB’s growth.
As such, although XShiba Inu has shown promise, the token’s future is still uncertain – meaning there’s a chance that its gains could be short-lived.
Sonik Coin Presale Continues Gathering Momentum as Developers Prepare for Uniswap Listing
While XShiba Inu is the latest meme coin seeing a pump, the crypto community is already seeking out the next potential viral sensation.
One contender catching attention is Sonik Coin (SONIK), a new meme token aiming to become the fastest to reach a $100 million market cap.
Sonik Coin’s presale launched less than two weeks ago, yet has already raised over $620,000 in funding.
The hype around SONIK is building rapidly, with tokens priced at just $0.000014 during the presale.
With the presale now having just eight days remaining, many in the Sonik Coin Telegram community are eagerly discussing the token’s potential, especially considering the development team’s ambitious goals.
Much of SONIK’s potential revolves around the token’s built-in staking protocol, which currently offers yields of up to 107% per year for holders.
Moreover, Sonik Coin’s smart contract has already been thoroughly audited by 0xGuard, adding an extra layer of credibility and security to the project.
Looking ahead, Sonik Coin’s developers have announced that SONIK will be listed on Uniswap once the presale concludes, with 10% of the total token supply reserved for exchange liquidity.
Given the affordable presale price and ambitious roadmap, speculation is mounting around SONIK’s prospects – suggesting it could be on track to become the next viral hit in the meme coin space.
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