COOKIE +185.02% in 24 Hours Amid Sharp Volatility

On SEP 2 2025, COOKIE surged by 185.02% within 24 hours to reach $0.1229, according to recent market data. However, over the broader timeframes, the token has experienced severe drawdowns: a 1430.69% decline over 7 days, a 532.35% drop in a month, and a staggering 7468.24% loss over the past year. The sharp price movement within a single day has drawn attention from market observers, though longer-term trends remain deeply bearish.

The rapid rise in the 24-hour period contrasts sharply with the deteriorating technical outlook for COOKIE. Analysts have pointed to declining on-chain activity and negative sentiment in on-chain metrics as potential signals of speculative short-term inflows. While the one-day spike has been described by some as a liquidity-driven anomaly, no official announcements or major events have been reported to explain the movement. The absence of fundamental drivers suggests that the movement could be the result of concentrated trading or a flash crash reversal.

Technical indicators have largely turned bearish over recent weeks. The Relative Strength Index (RSI) has moved into oversold territory, but without a clear reversal pattern, suggesting continued downward pressure. Meanwhile, the 50-day and 200-day moving averages remain in a steep downward trend, reinforcing a bearish bias. The recent 24-hour rally may represent a temporary bounce, but it has failed to close above key resistance levels or show signs of broader market adoption.

Backtest Hypothesis

A proposed backtesting strategy has emerged in response to COOKIE's recent price behavior. The strategy involves identifying short-term spikes that occur during bearish macro trends and employing a mean-reversion approach to capitalize on overreactions. The hypothesis assumes that when a token like COOKIE exhibits a one-day surge amid long-term downtrends, it often returns to its underlying trajectory within a few days. Traders following this model would initiate short positions shortly after a sharp rise, targeting a retest of key support levels or a continuation of the bear trend. The strategy emphasizes strict risk management, with stop-loss levels placed above the trigger event to avoid being caught in false breakouts.