Here’s why Sonic increased by 25 % this week

Sonic, previously known as Fantom, was the second best best encryption currency, with 25 % jumped.

Sonic (S) rose to the highest weekly level of $ 0.5882 on Thursday, its highest level since January 31 and 75 % higher than its lowest point this year.

The distinctive symbol jumped as third -party data showed that his ecosystem was working well. according to Davi LamaThe closed total value in the ecosystem increased to a record level of $ 400 million, a significant increase over 27.5 million dollars at the beginning of the year.

Most DAPPS in the ecosystem was a significant increase in assets. Silo Finance, a SONIC lending protocol, has $ 133.7 million in assets, by 20 % in the past seven days.

Avalon Labs assets jumped to $ 124 million. Other assets with higher performance in vocal ecosystems are Shadow Exchange, Swapx and Ichi. This performance is a sign that the network will continue to get more attention to the developer over time.

Sonic Price jumped due to the height of the return that exceeds the other encrypted symbols. Calculate WebsiteSonic has a 5.98 % full return, higher than ETHEREUM (Eth3.3 % and sui 2.55 %.

Moreover, Sonic hopes to become a major player in the MEME manufacturer by promoting Meme Mania. In the past few weeks, coins such as Goggles, Tinhatcat and Indi have accumulated to the maximum market for more than $ 3 million each.

Voice price expectations

The two -hour graph shows that the price of S had reached $ 0.310 earlier this month and recovered to $ 0.5500. I moved a little higher than the moving average 50 periods.

There are signs that the audio price is a reverse and shoulder pattern, which is a popular reversal sign. I completed the left shoulder and the head of the head.

Therefore, the currency may decline to the right shoulder of $ 0.4325 and then resume the upper direction. The reversal will indicate the neck line at $ 0.5878 to more bullish direction, with the next level to watch $ 0.8480, an increase of about 96 % of the current level. The accident below the $ 0.4325 shoulder department will lead to the upcoming expected expectations.