The Sonic (S) price, previously known with Fantom (FTM), has increased by 97 % over the past two weeks, making it the largest winner among the best 100 encrypted currencies depending on the maximum market.
This upward increase has sparked investors and merchants by surprise, and many of them are now wondering about the sustainability of this bull.
To answer this question, we have to evaluate the various stimuli that feed the price increase from explosive growth in the closed total value after renaming the strong technical momentum and the convincing ecosystems.
Naming that sparked momentum
Sonic turned from Phantom In early December 2024, it represents a pivotal transformation, which paves the way for its wonderful mobilization.
The brand repaming it is not just a cosmetic change. It often reflects strategic promotions and renewed market status.
Since the brand renamed, the Sonic price has increased from strength to strength, reaching $ 0.7731 as of February 20, 2025, with a maximum of $ 2.45 billion.
In addition, Sonic’s ecosystem showed tangible progress, with a total closed value (TVL) increased from 27 million dollars on January 1 to $ 611 million today.
This eye growth emphasizes an increase in adoption and confidence, as a Sonic is placed as a dangerous competitor in one layer.
The growth of the ecological system has led to the investor’s confidence
The high TVL shows Sonic’s attractiveness to both developers and users.
Unlike many speculative wave ride dictations, Sonic’s growth is rooted in the basics of its ecological system.
With the productivity of 10,000 transactions per second, it outperformed the current ETHEREUM 16 TPS and Solana 850 TPS, providing an effectable and effective platform.
This artistic ingenuity, associated with a transparent ecosystem and a unique reward model for developers, drew great attention to Sonic.
While developers flow to Sonic, it strengthens the effect of networks, which increases the demand for the distinctive symbol and support high prices.
Sonic: Technical indicators show a strong upward trend
From the perspective of trading, the Sonic scheme tells an uncompromising momentum.
Over the past 24 hours alone, the price has jumped by more than 20 % to an increase of $ 0.8622, while profit for 7 days sits 60 %.
Technical analysts highlight the moving medium climb 9-periods with a strength of 21 periods on the daily chart, with the price higher than the MAS, which is a classic upscale signal.
The RSI is hovering on the daily chart near 75, which reflects the strong purchase pressure, although it also alludes to the peak purchase conditions.
The trading volume also increased besides the price, as 437.8 million dollars were exchanged in one day, indicating a strong benefit for the buyer.
It is worth noting that rapid profit within two weeks and the highest level ever at $ 1.03 in January 2025 indicates that Sonic (S) is in a price discovery mode, although the RSI peak signal may lead to a correction.
Merchants watch $ 1.4314, which is the next main resistance level if the bullish momentum continues.
However, in the event of a correction, traders should monitor the level of Vibonacci rate by 61.8 % at $ 0.7108, which if breach can see a decrease in the price to $ 0.6049.
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