The Sonic price is a top crypto gainer today with around 12% pump, now trading exactly at $0.50. Holders should be fairly happy with this considering the broader market is sluggish and BTC price actually lost 1.5% in value in the last 24 hours.
So, what’s driving this surge? One of the strong Sonic supporters on X, ‘Jagoilio’, weighed in on the situation:
The recent price movement for Sonic ($S) isn’t surprising when you consider the bigger picture. According to Jagoilio, virtually every token has taken a beating in the last 1-2 months—you’d be hard-pressed to find a top 100 coin that hasn’t suffered. However, for Sonic, this represents a significant opportunity.
Jagoilio suggests that if the current downtrend breaks, we could see Sonic reach $0.76-$0.79, provided the broader market strength allows it. He points out that Sonic has a history of breaking steep downtrends, and once Bitcoin potentially makes significant moves in April, Sonic could follow suit.
Simple for $S @SonicLabs.
— Jagoilio.sonic (@0xJagoilio) March 14, 2025
Every token has managed to take a beating in the last 1-2 months – you'd be hard strapped to find a top 100 coin that hasn't.
For Sonic, this is one of the great opportunities.
If the downtrend breaks, $0.76-$0.79 imminent as long as market-wide… pic.twitter.com/pjVFb0Jyme
Sonic Price Support and Fibonacci Retracement Levels
For those looking to accumulate more Sonic tokens, Jagoilio indicates that the range between the 0.886 ($0.30) and 0.786 ($0.45) Fibonacci retracement levels appears to be a solid support zone. These Fibonacci levels are popular technical analysis tools used by traders to identify potential support and resistance areas based on previous price movements.
The 0.786 and 0.886 levels are considered deeper retracements, often serving as the final support before a potential trend reversal. Jagoilio refers to this $0.30-$0.45 range as “bulletproof” for those wanting to add to their positions (though he highlights this is not financial advice).
While acknowledging that token price fluctuations are beyond any individual’s control, Jagoilio explains that the underlying technology is what will ultimately distinguish Sonic from its competitors in the long run. He highlights that Sonic has maintained impressive ecosystem strength throughout the market downturn, consistently holding 600-700 million+ in Total Value Locked (TVL).
This performance has allowed Sonic to surpass several popular projects including Hyperliquid, Optimism, and Polygon. Jagoilio boldly states that “No L2 should be above Sonic,” and predicts that Arbitrum and Base will “see the same fate as L2s.” He further forecasts that Sonic will overtake Aptos and Sui during the next market run, eventually entering the top 10 cryptocurrencies.
Read also: How Much Will 50,000 Sonic (S) Tokens Be Worth if Bitcoin Reaches $150K?
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