SOMI +470.38% in 24 Hours Amid Strong Market Sentiment

On SEP 5 2025, SOMI rose by 470.38% within 24 hours to reach $0.5418, SOMI rose by 994.71% within 7 days, rose by 994.71% within 1 month, and rose by 994.71% within 1 year.

The recent surge in SOMI’s price has been fueled by a combination of on-chain activity and growing interest in its underlying tokenomics. Multiple whale-level transfers were observed over the past week, with large sums being moved across major exchanges and liquidity pools. These transactions have contributed to increased market confidence, particularly among long-term holders who are interpreting the inflow as a sign of strategic accumulation. No significant on-chain outflows have been reported, which supports the view of continued bullish momentum.

From a technical standpoint, SOMI has broken through several key resistance levels over the past 24 hours, forming a clear upward trend. The Relative Strength Index (RSI) has moved into overbought territory, indicating potential short-term correction risks, though the overall upward trajectory remains intact. The Moving Average Convergence Divergence (MACD) shows a strong positive divergence, reinforcing the bullish signal. These indicators suggest that the market is in a strong uptrend, though traders are advised to remain cautious of potential volatility as the RSI suggests saturation at current levels.

Backtest Hypothesis

A backtesting strategy was applied to evaluate the effectiveness of entering the market during the recent uptrend. The strategy is based on the RSI and MACD signals, with entry points determined when the MACD line crosses above the signal line and the RSI remains above 50. Exit points are set when either the RSI crosses back below 50 or the MACD line falls below the signal line. The strategy assumes a fixed stop-loss and take-profit level based on recent volatility patterns. The hypothesis is that this combination of indicators would have allowed a trader to capture the majority of the upward movement while limiting downside exposure. Given the recent behavior of the indicators, this approach appears to align with the observed price action, supporting its potential effectiveness in a live trading environment.