Synapse (SYN) Plummets 97.8% in 24 Hours Amid Sharp Downtrend

On AUG 31 2025, Synapse (SYN) dropped by 97.8% within 24 hours to reach $0.1281, marking a significant collapse in its value. Over the past week, the asset has fallen by 878.38%, and over the past month, it has plunged by 97.8%. Year-on-year, the decline is even more severe, with a drop of 8088.72%. The sharp sell-off has drawn attention from market participants and analysts, many of whom are examining the technical and on-chain factors behind the crash.

The drop in SYN’s price has been precipitous and largely unanticipated by many market observers. Despite previous attempts to stabilize the token with governance upgrades and community-driven initiatives, the recent collapse suggests a structural breakdown in investor confidence or a triggering of automated liquidation mechanisms. Analysts project that the downward spiral may continue unless a fundamental shift in the project’s roadmap or utility is announced.

The market reaction has been swift and severe, with the token losing nearly all of its value in a single day. This has led to widespread liquidations across major decentralized exchanges and centralized platforms, amplifying the downward pressure. The absence of a stable counterpart or robust use case has been cited as a contributing factor to the rapid devaluation.

SYN's recent performance has highlighted the fragility of certain token models, particularly those that rely heavily on speculative demand rather than intrinsic utility. While the project previously enjoyed a moderate following, the lack of consistent on-chain activity and real-world applications appears to have left it vulnerable to large sell-offs. Analysts have noted that the price movements align with key Fibonacci retracement levels, suggesting the possibility of further technical breakdowns unless a strong bullish catalyst emerges.

The market has seen minimal intervention from project teams or major holders, raising concerns about the depth of support available for SYN. Unlike more established tokens, which often benefit from buybacks or community-driven buy-in, SYN has not demonstrated any such defensive mechanisms in recent cycles. This has exacerbated the sell-off, as traders and investors have sought to minimize losses in the face of mounting uncertainty.

SYN has entered a new phase of technical analysis, with traders focusing on whether the asset can hold above key psychological and support levels. The 200-day moving average and other critical indicators have failed to provide a clear directional signal, leaving the market in a state of flux. The absence of a clear bottoming pattern has further clouded the outlook for long-term holders.