SONIC SVM Gains 64.73% Amid Crypto Market’s 7.5% Drop
The crypto market has decreased by 7.5% in the last 24 hours, bringing the total valuation to $3.32 trillion. Bitcoin is currently trading at $95,000.
Sonic SVM Listing Gains
- SONIC SVM, a Solana-based gaming token, is trading at $0.9883, reflecting a 64.73% increase.
- It reached a high of $1.25, with listing gains nearing 1,200% from its initial price of $0.09135.
- SONIC is the first gaming SVM on Solana, offering features like lower rent costs and enhanced distribution through apps like TikTok.
- Trading on major exchanges such as KuCoin and Upbit has fueled its recent performance.
Whale Accumulation
- Whales are actively accumulating SONIC tokens amid the broader market downturn.
- One whale purchased 977,323 SONIC for 1.17 million USDT at an average price of $1.20.
- Another whale acquired 1.18 million SONIC tokens using 4858 SOL tokens valued at $1.04 million, buying at $0.88.
- This accumulation indicates growing confidence in SONIC amidst market fluctuations.
Sonic SVM Price Analysis
- The current trading price is $1.02, showing a potential bullish trend above the $1 mark.
- A 2.35% increase suggests a possible Morning Star pattern indicating price reversal.
- Price targets are set at $1.57 and $2.17 based on Fibonacci levels.
- SONIC remains one of the few strong performers despite the overall market decline.