SOMI Dropped by 440.23% in 24 Hours Amid Volatile Market Conditions

On OCT 7 2025, SOMI dropped by 440.23% within 24 hours to reach $0.8462, SOMI rose by 481.44% within 7 days, rose by 1858.02% within 1 month, and rose by 7227.42% within 1 year.

The sudden 24-hour drop of over 440% indicates a sharp sell-off event that significantly impacted SOMI’s valuation. While the coin has shown substantial long-term growth, the recent 24-hour movement reflects a volatile reaction to internal or market-driven factors not yet disclosed. The one-day decline contrasts with its recent performance, including a 481.44% increase in the past week and a 1,858% rise in the last month, suggesting the price action may reflect a correction rather than a sustained bearish trend.

Analysts project that the extreme volatility may be attributed to shifts in investor sentiment or algorithmic trading behavior, though no concrete triggers have been disclosed in the available information. The 7-day and one-month performance remains robust, indicating that while short-term uncertainty is evident, the underlying momentum has not been entirely negated. The market is closely watching for signs of stabilization in the coming days.

The price movement has triggered a review of existing trading models that incorporate SOMI. Investors are advised to monitor key support and resistance levels as the coin’s price structure evolves. No major regulatory developments or on-chain changes have been highlighted as direct causes of the drop, leaving the market to speculate on internal project updates or broader macroeconomic conditions.

Backtest Hypothesis

The proposed backtesting strategy focuses on technical indicators that reflect the recent price volatility. It utilizes a combination of moving averages and RSI levels to identify potential trade signals. The approach aims to capture short-term reversals and trends by entering trades when the price crosses above or below key moving average lines, paired with RSI confirmation for overbought or oversold conditions. The strategy would be tested using historical data aligned with the recent price patterns to assess its effectiveness in predicting short-term movements in such a volatile environment.