SOMI +144.42% in 24 Hours Amid Record-Breaking Gains

On SEP 7 2025, SOMI rose by 144.42% within 24 hours to reach $1.6816, SOMI rose by 27285.65% within 7 days, rose by 24145.65% within 1 month, and rose by 24145.65% within 1 year.

The digital asset has seen a dramatic reversal of fortune in recent weeks, marking its most substantial price rally in years. The 144.42% rise in the last 24 hours is the most significant one-day move since the asset’s listing, with the 7-day gain exceeding 27,000%. Traders and investors are reacting to a sudden influx of capital into the asset class, driven by large-position liquidations and strategic buys. Analysts note that the price movement is not tied to a specific fundamental update but is instead the result of shifting capital flows and increased retail participation.

The surge has led to a reevaluation of technical indicators, with the RSI and MACD signaling strong momentum. The RSI remains above 70 for the first time in months, while the MACD line has crossed above the signal line with increasing volume. These signals suggest the asset is experiencing a short-term bullish phase, though some observers caution that the rapid ascent could attract corrective action. The 200-day moving average has been breached multiple times in the past week, indicating a shift in the medium-term trend. However, the lack of a clear catalyst raises questions about the sustainability of the current rally.

Backtest Hypothesis

A proposed backtesting strategy aims to evaluate the effectiveness of a momentum-based approach aligned with the recent price behavior of SOMI. This strategy uses the RSI and MACD as primary indicators to generate buy and sell signals. Specifically, a long entry is triggered when the RSI crosses above 50 and the MACD line crosses above the signal line. A sell signal is generated when the RSI drops below 50 or the MACD line crosses below the signal line. The strategy is applied over the past 12 months using historical price data to assess its viability under various market conditions. The results will provide insight into whether the recent price surge reflects a genuine shift in market sentiment or a temporary anomaly.