The Sonic SVM price has plunged 18% in the last 24 hours to trade at $0.772 as of 3:20 a.m. EST on a 77% slump in trading volume to $540 million.

This price drop follows a remarkable 1,200% surge in SONIC’s value after its listing on major exchanges like KuCoin, Upbit, and Binance on January 7.

It’s LAUNCH time! ⚡️🚀$SONIC is now officially tradable on these exchanges:

Contract Address: SonicxvLud67EceaEzCLRnMTBqzYUUYNr93DBkBdDES

🔹 Jupiter: https://t.co/FmdLqQ0xrE

🔹 OKX: https://t.co/WAx9l9zXol

🔹 Bybit: https://t.co/oGnw5zy8N8

🔹 KuCoin:… pic.twitter.com/aMkK711e86

— Sonic SVM (@SonicSVM) January 7, 2025

As the first gaming token built on the Solana Virtual Machine, SONIC introduces unique advantages, such as reduced costs, enhanced configurability, and seamless integration with consumer-facing apps like TikTok.

Its innovative “tap-to-earn” gaming feature has stirred significant interest in the crypto community, positioning SONIC as one of the most promising projects in gaming and blockchain.

Sonic SVM Price Bearish Channel Signals A Potential Reversal

The SVM/USDT price movements in a 30-minute timeframe show a significant decline after an earlier rally to $0.8716. Following this surge, the price entered a bearish channel marked by lower highs and lower lows, signaling persistent selling pressure. The price has struggled to break out of this downward trend, finding resistance near $0.84597, which aligns closely with the 50-period moving average (SMA50).

Meanwhile, strong support is observed around $0.43596, coinciding with the upward-sloping 200-period moving average (SMA200). This support level may serve as a safety net if bearish momentum continues, while the rising SMA200 hints at a more optimistic long-term outlook for the token.

SONICUSDT Analysis Source: Tradingview

The Relative Strength Index (RSI-14) reading of 37.48 indicates the Sonic SVM price is nearing oversold territory, which could slow down bearish momentum and possibly trigger a reversal. If the price breaks out of the bearish channel and closes above $0.84597, it would signal a bullish recovery, with the next target price in the $1.00–$1.20 range.

However, if the price remains confined within the channel and loses support at $0.43596, it could experience further declines, potentially testing lower levels. Traders should pay close attention to the breakout and consolidation patterns while watching the RSI for indications of a shift in momentum.

Additionally, setting stop-loss orders below $0.43596 is advisable to mitigate risks in a bearish continuation.

Flockerz Presale Heads For $10 Million – Last Chance To Buy

As the Sonic SVM price finds its footing for another leg up, investors are also rushing to buy Flockerz (FLOCK), a bird-themed meme coin currently in its presale phase that has garnered over $9.2 million in funding.

According to an analyst on 99Bitcoins, a popular YouTube crypto channel with over 719K subscribers, FLOCK could potentially deliver a massive 100X return once it launches.

Flockerz owes much of its popularity to its innovative Vote-To-Earn model, FlockTopia, a DAO that rewards users for voting on proposals and contributing to the project’s decision-making process.

This incentivized system promotes long-term decentralization by encouraging token holders to remain actively engaged and regularly participate in voting.

Stack em high with The Flock! 🔥🐦 pic.twitter.com/4IiEhZTPxN

— Flockerz (@FlockerzToken) January 6, 2025

In addition to vote-to-earn (V2E) rewards, Flockerz offers passive income opportunities through a staking program with a huge annual yield of 294%.

With the token’s presale price still low at $0.0066616, this is the final opportunity to participate before the ICO concludes in less than 13 days.

Buy FLOCK using BNB, ETH, USDT, or bank card.

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