SOMI +96.08% in 24 Hours Amid Unprecedented Short-Term Gains

On SEP 8 2025, SOMI surged by 96.08% within 24 hours to reach $1.6713, marking an extraordinary price movement that has drawn attention across the market. Over a seven-day period, the token posted a gain of 27,019.1%, while it rose by 23,901.55% both month-to-date and year-to-date. The rapid ascent indicates a dramatic shift in investor sentiment and trading dynamics.

The surge in SOMI’s valuation is attributed to a series of on-chain activity signals and a significant increase in holder concentration. A notable development was the movement of large token quantities into fewer wallets, suggesting strategic accumulation. This has led to speculation about potential market manipulation or coordinated buying pressure. While no official statements have been made, the on-chain data shows a marked deviation from typical distribution patterns.

Technical indicators on the SOMI chart have turned bullish following the recent upswing. The Relative Strength Index (RSI) has moved into overbought territory, reflecting strong upward momentum. Similarly, the Moving Average Convergence Divergence (MACD) has shown a widening histogram and positive crossover, reinforcing the bullish narrative. These signals are typically used by traders to gauge the strength and direction of a trend.

Backtest Hypothesis

A proposed backtesting strategy is being evaluated to assess the viability of a long position in SOMI based on the recent on-chain and technical indicators. The strategy focuses on entering the market after a significant accumulation phase, as indicated by large wallet movements, and holds the position through periods of RSI overbought conditions and positive MACD signals. Exit triggers are set when either the RSI begins to diverge from price action or when the MACD histogram starts to contract. This approach aims to capture the initial wave of a potential breakout while minimizing exposure to overextended conditions.