Sonic, formerly known as a phantom, was the second best performance of the top -100 crypto coin of this wee, as it jumped by 25%.
Sonic (S) rose to a weekly high level of $ 0.5882 on Thursday, its highest level since January 31 and 75% above its lowest point this year.
The token jumped as a third party data that its ecosystem was doing well. As Defee lamaClosed total value in the ecosystem reached a record high level of $ 400 million, a major increase from $ 27.5 million, which was early in the year.
There is a major increase in property in most dapps in the ecosystem. The assets of a landing protocol on Sonic are $ 133.7 million in assets, which is 20% profit in the last seven days.
The assets of Avalon Labs have increased to $ 124 million. Sonic Ecosystem has other top performing property Shadow Exchange, SWAPX and ICHI. This performance is a sign that the network will continue more developer interest over time.
The sonic price has jumped due to its growing yield that defeats the other crypto tokens. According to WebsiteThe sonic has a stacking yield of 5.98%, which is the atherium (ETH) 3.3%and more than 2.55%of the needle.
In addition, Sonic hopes to become a prominent player in the Meme coin industry through his meme mania promotion. In the last few weeks, Meme coins such as Goggles, Tinhakat and Indie have deposited a market cap of over $ 3 million each.
Sound price forecast
The two -hour chart suggests that the price of S was $ 0.310 earlier this month and has been rebound to $ 0.5500. It has gone slightly above the 50-period moving average.
There are indications that the sonic value is creating an inverted head and shoulder pattern, a popular rapidly reversed signal. It has completed the left shoulder and head section.
Therefore, the coin can retreat on the right shoulder of $ 0.4325 and then resume uptrend. $ 0.5878 will indicate a rebound more reverse above the neckline, at $ 0.8480 with the next level, up to 96% from the current level. An accident under the shoulder section of $ 0.4325 will rapidly invalidate the outlook.
