SOMI drops by 19.52% within 24 hours as market volatility intensifies

On September 12, 2025, SOMI saw a dramatic drop, losing 19.52% in value within a single day and closing at $0.9764. Throughout the previous week, the token plummeted by 4132.58%, marking a notable shift in market direction. Despite this, its one-month and one-year performances remained strong, with gains of 9751.83%, highlighting both its extreme volatility and its long-term endurance.

This price action has sparked interest among both investors and market observers, many of whom are re-examining the broader effects of the token's recent moves. According to a new analysis, the sharp decline was likely driven by a mix of declining liquidity and changing market sentiment, although the project team and associated parties have yet to provide any official comments.

Current technical analysis points to a bearish trend for the token, as crucial support zones are under threat. Moving averages across multiple intervals are indicating a downward direction, and the Relative Strength Index (RSI) has entered oversold levels, which might suggest a possible short-term rebound. Nevertheless, the overall dominance of negative momentum indicators suggests that caution is warranted for those considering buying in the near term.

Experts believe that if the support areas at $0.90 and $0.80 remain intact, SOMI could stabilize briefly before possibly continuing its upward trajectory over the longer term. Conversely, if the price falls below $0.90, it may trigger further declines to lower price points. It is recommended that investors carefully watch trading volumes and on-chain data to identify potential accumulation or distribution trends.

Backtest Hypothesis
A backtesting methodology has been suggested to analyze the token's historical price movement alongside essential technical indicators. This method intends to model trades using set entry and exit criteria based on moving averages and RSI values. The premise is that following a systematic approach with these signals could have produced profits during periods of high volatility while reducing risk during market downturns. The backtest will examine the token’s performance throughout the last year, operating on the idea that past behaviors may serve as a guide for future trading strategies.