Sonic price forms risky patterns such as defytemic vouchers ecosystems

Sonic token collapsed on the bear market even as its decentralized financial ecosystems overvaluated to record high.

Sonic (S) The price traded 50 cents for about 50% of its age on Saturday. This decline led to a large drop in its market cover of $ 2.8 billion in February to 1.48 billion.

Sonic’s crash happened even until her define still got well. Defi Llama It shows that the total value locked in its ecosystem jumped to a record high of $ 860 million this week. TVL jumped to 1.7 billion sonic terms.

Matest, unlike other chains, this sound growth is launched numerous decentralized applications. The funding of the silo has $ 202 million, while AAVE V3 accumulated over 184 million dollars a month after launch.

Laboratories Avalon, Shadow Exchange and Swapk have remained top players in the Sonic Ecosystem, while beets and Veda are the largest liquid platform for putting.

This growth could continue in the coming months because more Dapps are still distributed online. The probable reason for this is that all the calendar earns about 90% of all network fees creating their applications.

Sonin’s growth could accelerate the coming weeks. Circle, the company behind the lean of USD (USDC) It hinted to arrange his stablecoin in the net. This move is likely to boost the amount of stableCoins on the network from the current of $ 255 million.

Sonic also recently debuted its virtual and physical card, which allows users to pay with a coin. Toward websiteThis card was accepted over 130 million retailers around the world.

These movements took place less than three months after the network has taken over. Previously known as phantom, rebranding introduced new functions like increased transaction and bandwidth speed, smart contract execution and lower costs.

Sonic price analysis

While Sonic has a strong basis, technically suggest that he will soon be able to break. The token formed a sample pattern of wedge, which characterizes growing and converting trends. This form often leads to a strong failure.

Sonic token also formed a head and shoulder form whose neckline is at $ 0.375.

Therefore, there is a risk that the price will fall in the coming days. If this happens, key support is likely to be reached to 0.3795 USD, up to 25% from the current level.