<![CDATA[<figure class="image"><img src="https://cimg.co/news/123858/327245/image.jpg" alt="" srcset="https://cimg.co/news/123858/327245/responsive-images/image___media_library_original_1280_822.jpg 1280w, https://cimg.co/news/123858/327245/responsive-images/image___media_library_original_1200_771.jpg 1200w, https://cimg.co/news/123858/327245/responsive-images/image___media_library_original_900_578.jpg 900w, https://cimg.co/news/123858/327245/responsive-images/image___media_library_original_720_462.jpg 720w, https://cimg.co/news/123858/327245/responsive-images/image___media_library_original_600_385.jpg 600w, https://cimg.co/news/123858/327245/responsive-images/image___media_library_original_300_193.jpg 300w" width="1280" class="content-img"><figcaption>Source / Sam Cooling x ChantelleCeeCee</figcaption></figure>Ethereum Classic (ETC) has tumbled -7% in a dramatic rejection from severe resistance around the 20DMA, but as network activity slows - is Ethereum Classic going to zero?The sudden fall comes amid a hard-fought resurgence for Ethereum Classic, which has been caught in a tumultuous downside slide since July 1.<figure class="image"><img src="https://cimg.co/news/123858/327227/image.jpg" alt="" srcset="https://cimg.co/news/123858/327227/responsive-images/image___media_library_original_1937_536.jpg 1937w, https://cimg.co/news/123858/327227/responsive-images/image___media_library_original_1200_332.jpg 1200w, https://cimg.co/news/123858/327227/responsive-images/image___media_library_original_900_249.jpg 900w, https://cimg.co/news/123858/327227/responsive-images/image___media_library_original_720_199.jpg 720w, https://cimg.co/news/123858/327227/responsive-images/image___media_library_original_600_166.jpg 600w, https://cimg.co/news/123858/327227/responsive-images/image___media_library_original_300_83.jpg 300w" sizes="100vw" width="1937" class="content-img"><figcaption>BitInfoCharts / ETC Active Addresses</figcaption></figure>Indeed, the Ethereum Classic network has seen a significant decline in activity since the last bull market in 2021 - with the <a href="https://bitinfocharts.com/comparison/etc-activeaddresses.html#3y">number of active addresses</a> falling to bear market levels.<figure class="media"><oembed url="https://twitter.com/whoisparul/status/1696882965631140049"></oembed></figure>And this comes as revelations emerge on Crypto Twitter suggesting that the Ethereum Classic network generated just $26 in fees over the past 24-hours - painting a bleak image of ecosystem growth.<h2 id="strong-etc-price-analysis-is-ethereum-classic-going-to-zero-strong">ETC Price Analysis: Is Ethereum Classic Going to Zero?</h2>Ethereum Classic remains reeling from the sudden decline, although steadfast support above $16 has caught the tumble with<a href="https://www.tradingview.com/symbols/ETCUSD/"> price currently trading at $16.00</a> (representing a 24-hour change of -0.06%).<figure class="image"><img src="https://cimg.co/news/123858/327236/image.jpg" alt="" srcset="https://cimg.co/news/123858/327236/responsive-images/image___media_library_original_1634_901.jpg 1634w, https://cimg.co/news/123858/327236/responsive-images/image___media_library_original_1200_662.jpg 1200w, https://cimg.co/news/123858/327236/responsive-images/image___media_library_original_900_496.jpg 900w, https://cimg.co/news/123858/327236/responsive-images/image___media_library_original_720_397.jpg 720w, https://cimg.co/news/123858/327236/responsive-images/image___media_library_original_600_331.jpg 600w, https://cimg.co/news/123858/327236/responsive-images/image___media_library_original_300_165.jpg 300w" sizes="100vw" width="1634" class="content-img"><figcaption>TradingView / ETC USDT</figcaption></figure>The -7% drop comes after price shot-up +10.3% on August 30, in a major re-test of resistance from the 20DMA - which has suppressed upside price action for 48 days.Despite the tumultuous rejection, support appears to be strong at $16 - this follows more than a week of consolidation at this key price level.The 200DMA is still sat high above price action around $18.90, however, this is directly above a support level at $18.35 - forming an upside target for ETC.Ethereum Classic's indicators provide some relief, with the RSI remaining cool at 43.49 - suggesting ETC is oversold at these levels.While the MACD also showcases continued bullish divergence at 0.11 - further signalling that upside pressure remains.With indicators leaning bullish, it seems Ethereum Classic will continue to consolidate and test the 20DMA.<figure class="image"><img src="https://cimg.co/news/123858/327235/image.jpg" alt="" srcset="https://cimg.co/news/123858/327235/responsive-images/image___media_library_original_1634_901.jpg 1634w, https://cimg.co/news/123858/327235/responsive-images/image___media_library_original_1200_662.jpg 1200w, https://cimg.co/news/123858/327235/responsive-images/image___media_library_original_900_496.jpg 900w, https://cimg.co/news/123858/327235/responsive-images/image___media_library_original_720_397.jpg 720w, https://cimg.co/news/123858/327235/responsive-images/image___media_library_original_600_331.jpg 600w, https://cimg.co/news/123858/327235/responsive-images/image___media_library_original_300_165.jpg 300w" sizes="100vw" width="1634" class="content-img"><figcaption>TradingView / ETC USDT</figcaption></figure>To the upside, if Ethereum Classic bulls successfully crack resistance, then ETC has an upside target at $18.35 (a potential +14.33%), poised and ready to face resistance at the 200DMA.While to the downside, rejection from this key level would likely see ETC fall back to $15 (a possible -6.54%).Overall, this leaves <a href="https://cryptonews.com/coins/ethereum-classic/">Ethereum Classic</a> with a risk: reward ratio of 2.19 - a good entry dependent on the 20DMA.However, while ETC traders are stuck watching the 20DMA, smart money have been flooding into an emerging breakout meme coin presale which has already amassed $800k.<h2 id="strong-sonik-coin-skyrockets-as-meme-coin-presale-unlocks-viral-success-with-almost-1m-raised-strong">Sonik Coin Skyrockets as Meme Coin Presale Unlocks Viral Success with Almost $1M Raised</h2><figure class="image"><img src="https://cimg.co/news/123858/327243/image.jpg" alt="" srcset="https://cimg.co/news/123858/327243/responsive-images/image___media_library_original_1200_800.jpg 1200w, https://cimg.co/news/123858/327243/responsive-images/image___media_library_original_900_600.jpg 900w, https://cimg.co/news/123858/327243/responsive-images/image___media_library_original_720_480.jpg 720w, https://cimg.co/news/123858/327243/responsive-images/image___media_library_original_600_400.jpg 600w, https://cimg.co/news/123858/327243/responsive-images/image___media_library_original_300_200.jpg 300w" sizes="100vw" width="1200" class="content-img"><figcaption>Source / Sonik Coin</figcaption></figure><a href="https://cryptonews.com/ext/sonik/en">Sonik Coin ($SONIK),</a> which is not only making waves in crypto markets, but also racing - with the audacious goal of exploding when the presale ends in just 5 days.And given the current trajectory, this aspiration may soon be a reality - as this rockstar presale has surged to a jaw-dropping +$848,000 raised in less than a week.<figure class="media"><oembed url="https://twitter.com/Sonikcoin/status/1697202645990064225"></oembed></figure>But what has got markets so excited about the unlikely Sonik coin? The answer is in the APY - let's dig down into this further.<h2 id="strong-sonik-presale-gotta-go-fast-as-investors-flood-in-to-claim-91-staking-apy-strong">Sonik Presale 'Gotta Go Fast' as Investors Flood-in to Claim 91% Staking APY</h2><figure class="image"><img src="https://cimg.co/news/123858/327241/image.jpg" alt="" srcset="https://cimg.co/news/123858/327241/responsive-images/image___media_library_original_1600_523.jpg 1600w, https://cimg.co/news/123858/327241/responsive-images/image___media_library_original_1200_392.jpg 1200w, https://cimg.co/news/123858/327241/responsive-images/image___media_library_original_900_294.jpg 900w, https://cimg.co/news/123858/327241/responsive-images/image___media_library_original_720_235.jpg 720w, https://cimg.co/news/123858/327241/responsive-images/image___media_library_original_600_196.jpg 600w, https://cimg.co/news/123858/327241/responsive-images/image___media_library_original_300_98.jpg 300w" sizes="100vw" width="1600" class="content-img"><figcaption>Source / Sonik</figcaption></figure>&nbsp;An intriguing 50% of the mammoth 300 billion $SONIK supply has been allocated for early investors, making it a limited-time golden opportunity.&nbsp;With each token priced at a meager $0.000014, enthusiasts have the perfect entry point, especially before its much-anticipated debut on Uniswap post-presale.&nbsp;This decentralized exchange is a powerhouse, and $SONIK's presence there will undoubtedly amplify its visibility manifold.But Sonik Coin is more than just another meme coin, the staking APY of an <a href="https://cryptonews.com/ext/sonik/en">astounding 91%</a> speaks volumes about its potential returns.&nbsp;Staking not only adds an avenue for passive income, but its inclusion also showcases the team's commitment to longevity and stability.&nbsp;The idea? By staking, holders are encouraged to hold onto their tokens for more extended periods, thus mitigating volatile price swings and cementing a firm foundation for steady growth.<h2 id="strong-sonik-coin-follows-in-early-footsteps-of-pepe-in-pursuit-of-viral-success-strong">Sonik Coin Follows in Early Footsteps of PEPE in Pursuit of Viral Success</h2><figure class="image"><img src="https://cimg.co/news/123858/327240/image.jpg" alt="" srcset="https://cimg.co/news/123858/327240/responsive-images/image___media_library_original_1308_1224.jpg 1308w, https://cimg.co/news/123858/327240/responsive-images/image___media_library_original_1200_1123.jpg 1200w, https://cimg.co/news/123858/327240/responsive-images/image___media_library_original_900_842.jpg 900w, https://cimg.co/news/123858/327240/responsive-images/image___media_library_original_720_674.jpg 720w, https://cimg.co/news/123858/327240/responsive-images/image___media_library_original_600_561.jpg 600w, https://cimg.co/news/123858/327240/responsive-images/image___media_library_original_300_281.jpg 300w" sizes="100vw" width="1308" class="content-img"><figcaption>X / SonikCoin</figcaption></figure>Now, let&rsquo;s talk about $PEPE, Pepecoin's <a href="https://www.tradingview.com/chart/?symbol=OKX%3APEPEUSDT">astronomic growth</a>&mdash;delivering jaw-dropping returns of over <a href="https://www.tradingview.com/chart/?symbol=OKX%3APEPEUSDT">10,000</a>% to early backers&mdash; has set a precedent.&nbsp;<figure class="image"><img src="https://cimg.co/news/123858/327239/image.jpg" alt="" srcset="https://cimg.co/news/123858/327239/responsive-images/image___media_library_original_1534_861.jpg 1534w, https://cimg.co/news/123858/327239/responsive-images/image___media_library_original_1200_674.jpg 1200w, https://cimg.co/news/123858/327239/responsive-images/image___media_library_original_900_505.jpg 900w, https://cimg.co/news/123858/327239/responsive-images/image___media_library_original_720_404.jpg 720w, https://cimg.co/news/123858/327239/responsive-images/image___media_library_original_600_337.jpg 600w, https://cimg.co/news/123858/327239/responsive-images/image___media_library_original_300_168.jpg 300w" sizes="100vw" width="1534" class="content-img"><figcaption>TradingView / PEPE USDT</figcaption></figure>Given $SONIK&rsquo;s innovative staking model and the infectious enthusiasm around its branding (a nod to the ever-popular Sonic the Hedgehog), it's poised for a similar, if not more impressive, trajectory.The transparent, community-centric vision of the <a href="https://cryptonews.com/ext/sonik/en">Sonik Coin's founders</a>, paired with its tantalizing staking rewards and the buzz it has already generated, sets it apart in a sea of meme coins.&nbsp;<figure class="media"><oembed url="https://youtu.be/e_MwNeyGALQ"></oembed></figure>Check out the Sonik <a href="https://t.me/Sonikcoin">Telegram </a>and <a href="https://twitter.com/Sonikcoin">Twitter </a>here.If history and market patterns tell us anything, the early bird catches the worm. Or in this case, rides the supersonic wave.<a href="https://cryptonews.com/ext/sonik/en">Buy Sonik Here</a>Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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Is Ethereum Classic Going to Zero? ETC Price Drops 7% as This New Crypto Project Raises $800,000

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