Sei Price Pumps 30% - Time to Buy? Sonik Coin is Also Bullish After Raising $750K
The crypto market finally broke from its bearish trend yesterday after Grayscale Investments’ landmark win over the US SEC.
While major cryptocurrencies like Bitcoin and Ethereum saw sizable pumps, the recently launched Sei token saw a massive 30% bull rally.
Although the market has sinced pulled back, with Bitcoin and most other major altcoins seeing drops in the last 24 hours, Sei is still up 14%, making it one of the biggest winners.
Rapid innovation and mass adoption in the Sei ecosystem, along with a bullish market outlook have created an ideal backdrop for the token to see a strong continuation.
Another new token showing bullish growth is the Sonik meme coin, which recently passed the $750k milestone in its presale.
Sei Coin Turns Bullish - Will The Rally Last?
Sei has emerged as one of the hottest assets in the crypto market since its launch just over two weeks ago. Major crypto exchanges like Binance, Bybit and Bitget listed the token on the 15th of August, after which $SEI saw an explosive 1800% rally.
The token was struggling to find a bullish continuation over the past few days until Grayscale’s historic victory over the SEC resulted in a euphoria in the crypto market. $SEI has since seen a 500% surge in its 24-hour Trading Volume, which ended up pushing it past the $300 million market capitalization.
The token has corrected slightly over the past hours and is now trading at $0.15 with a market capitalization of $283 million, but is still up 13% compared to this time yesterday. According to CoinMarketCap, Sei is already the 101st largest crypto asset in terms of market cap.
Experts are also bullish on the token’s long-term prospects. Popular analyst @GVRCALLS, who has close to 100K followers on Twitter, believes that $SEI is one of the best tokens for long-term hold and can deliver 10-500x gains over the next 5 years. He believes that $0.18 could be the next bullish target for the token in the short term.
Another crypto trader @Cephii1, who has over 70K followers on Twitter, is also praising the token’s recent growth, considering it was launched in a low-liquidity market. He reveals that most tokens that see such bull rallies during high-liquidity periods often “get rekt” during adverse market conditions.
CNBC crypto trader Ran Neuner also has Sei on his buy list, while @DaanCrypto thinks that a surge to $0.17 is the most likely next move for the token.
Ever since Sei’s public mainnet launch, the ecosystem has grown by leaps and bounds. Investors now have the option to short or long the token after the Levana perpetual trading went live on the Sei blockchain.
The Pallet exchange and GameFi products like BinaryX have also announced that they are building on Sei.
Sonik Coin Also on Watchlists as Viral Meme Token Surges Past $750K
Apart from Sei, several meme coins are also enjoying the current bull rally. The newly launched Sonik Coin is one such token that is generating tremendous hype in its presale, having already raised over $760K in its ICO.
$SONIK is looking to capitalise on the growing popularity of Sonic The Hedgehog-based meme coins and replicate the success of tokens like HarryPotterObamaSonic10Inu that saw remarkable 8000% rallies.
Just as the beloved blue Hedgehog is known for its supersonic speed, Sonik Coin is seeking to be the quickest meme token to hit the $100 million market capitalization.
However, $SONIK is more than just another utility-less meme token - its on-chain stake-to-earn mechanism offers an excellent opportunity to generate exciting passive income. This feature allows investors to earn as high as 90% APY, while also contributing to price stability and network security.
40% of the entire token supply has been reserved for staking, with over 26 billion tokens already locked in. Another 50% of the tokens are up for grabs in the presale, allowing investors to maximise their profits by purchasing $SONIK at a cheap price of $0.000014.
However, interested buyers need to hurry as the presale has a hard cap of just over $2 million, after which the token will launch on Uniswap, with commentators expecting it to pump.
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