SOMI Drops 589.99% in 24 Hours Amid Market Volatility

On SEP 28 2025, SOMI dropped by 589.99% within 24 hours to reach $0.7659, SOMI dropped by 2041.18% within 7 days, rose by 5410.9% within 1 month, and rose by 5410.9% within 1 year.

The recent price movement of SOMI has triggered significant market attention due to its extreme 24-hour drop of 589.99%. While the coin has experienced a 2041.18% decline over the past week, it has shown notable long-term resilience, rising 5410.9% over the last month and over the same percentage in the past year. These numbers reflect the extreme volatility characteristic of the cryptocurrency market, particularly in assets with high speculative exposure.

The rapid decline in value follows a sharp reversal from its recent one-month high. Traders and analysts are now closely examining the underlying factors behind the sell-off. Technical indicators show a breakdown in key support levels, signaling potential bearish momentum in the short term. However, the asset has historically demonstrated a strong recovery pattern, particularly when volatility-driven corrections occur in tandem with broader market cycles.

Backtest Hypothesis

Given the dramatic movement in SOMI’s price, a backtesting strategy has been proposed to evaluate potential historical profitability under similar market conditions. The strategy would simulate a short-term trading approach, entering trades based on a combination of RSI divergence and moving average crossovers. These indicators are selected for their relevance to the recent technical breakdown observed in the price action.

The backtest aims to assess the viability of entering short positions during periods of overbought RSI readings, coupled with a bearish crossover between the 50-day and 200-day moving averages. Historical performance under comparable volatility conditions will be used to determine the strategy’s potential effectiveness in managing risk and capturing directional moves in high-volatility environments like the one currently observed. The results of this strategy could provide traders with actionable insights into optimizing their positioning in future market swings.