24.06.2025 13:54

Sonic's native token, S, experienced a remarkable price surge, climbing more than 16% in a single day, fueled by a confluence of positive developments. This significant increase follows several key announcements and improvements within the Sonic ecosystem.


The upcoming listing on Coinbase, a major cryptocurrency exchange, has been a primary catalyst for this rally. Confirmation of the listing dramatically increased the token's visibility and accessibility, attracting a wider range of investors and boosting market confidence. This heightened interest is reflected in the substantial increase in trading volume, which soared by 77%, reaching a staggering $270 million.


Further contributing to the price surge is a marked increase in open interest, jumping 20% to reach $100.6 million. This indicates a significant rise in both speculative and long-term investment activity. The combination of increased trading volume and open interest clearly shows strong buying pressure and renewed confidence in the Sonic project. An $82 million airdrop and the integration with the 1inch decentralized finance (DeFi) platform also added considerable momentum.


Technical analysis reveals a potential trend reversal. Although the token remains approximately 23% below its one-month high, key support levels have been reclaimed, suggesting a shift in market sentiment. While the 10-day moving average provides support, the 20- and 50-day moving averages still pose resistance. The Relative Strength Index (RSI) has climbed to 45, indicating a recovery from oversold conditions, though a complete bullish reversal remains pending. This upward momentum and positive technical indicators suggest that the recent surge may represent a sustained recovery, potentially attracting long-term investors and further solidifying Sonic's position in the cryptocurrency market. Information for this report was gathered from internet sources.