SOMI has surged by 14,843.37% since the start of the year despite a significant decline in the past 24 hours

On September 15, 2025, SOMI experienced a dramatic 150.82% drop in price within a single day, ending at $1.2481. Despite this sudden fall, the token's broader trend remained strong, having soared by 2610.22% over the preceding week and achieving a staggering 14843.37% increase across both the past month and year. This recent price swing has reignited trader interest, as SOMI’s overall trajectory continues to be positive in the face of short-term instability.

The 24-hour decline in SOMI was largely driven by changes in liquidity and automated trading activity, with no formal announcements or regulatory actions reported. The price drop resulted from a surge in rapid-fire trading that temporarily exceeded the market's ability to handle the volume. Experts observed that this plunge was mostly technical in nature and did not signify any fundamental or technical shift regarding the asset itself.

Throughout the last month, SOMI has maintained a pronounced upward momentum, consistently posting new highs and higher lows. This bullish pattern is reinforced by several technical signals, such as a favorable RSI reading and a bullish moving average crossover on the weekly timeframe. The token has proven its strength by rebounding quickly after prior declines, indicating strong buying demand and the potential influence of algorithmic trading.

Backtest Hypothesis

Building on recent price action and technical conditions, a possible backtesting approach could involve combining moving average crossovers with RSI thresholds to identify trade opportunities. The strategy would seek to enter long positions when the 20-day moving average overtakes the 50-day, and the RSI falls below 30, suggesting the asset is oversold. Stop-loss orders could be set at the 20-day average, with profit targets at 1.5 times the entry price. This method is intended to take advantage of bullish momentum while limiting potential losses.