Sonic, previously known as Fantom, was the second best-performing top 100 crypto currency, because it was with 25%jump.
Sonic (s) rose on Thursday to a weekly high of $ 0.5882, the highest level since January 31 and 75% above the lowest point this year.
The Token jumped when data from third parties showed that the ecosystem was doing well. According to Defi LamaThe total value locked in the ecosystem rose to a record high of $ 400 million, a major increase compared to the $ 27.5 million that it had at the start of the year.
Most DApps in the ecosystem have had a large increase in assets. Silo Finance, a credit protocol on Sonic, has $ 133.7 million in assets, a profit of 20% in the last seven days.
Avalon Labs assets have risen to $ 124 million. Other best performing assets in the sonic ecosystems are Shadow Exchange, Swapx and Ichi. This implementation is a sign that the network will continue to be more interested in developers over time.
Sonic Price has risen due to the rising appearance that other crypto tokens beats. By websiteSonic has an appearance of 5.98%, higher than the 3.3%of Ethereum (ETH) and SUIs 2.55%.
Sonic also hopes to become an important player in the Meme Coin industry through his Meme Mania Promotion. In recent weeks, meme coins such as glasses, Tinhatcat and Indi have collected a market capitalization of more than $ 3 million each.
Sonic price forecast
The two-hour graph shows that the S price earlier this month at $ 0.310 Batte and has returned to $ 0,5500. It is slightly above the progressive average of 50 periods moved.
There are signs that the sonic price forms a reverse head and shoulder pattern, a popular bullish reversing board. It has completed the left shoulder and the main section.
That is why the coin can withdraw into the right shoulder of $ 0.4325 and then resume the upward trend. A rebound above the neckline for $ 0.5878 will indicate more top, with the next level to look at $ 0.8480, an increase of around 96% compared to the current level. A crash under the shoulder part of $ 0.4325 will invalidate the bullish prospect.
