SOMI has increased by 8879.17% over the past year despite significant market fluctuations and various analyst forecasts

On September 10, 2025, SOMI plummeted by 417.14% in just one day, reaching a price of $0.9254. Over the following week, the token declined by 1055.32%. However, SOMI surged by 8879.17% in the past month and posted the same impressive gain over the past year.

SOMI recently saw a substantial drop after a notable sell-off within a single day, erasing nearly 417% of its value in 24 hours and dipping to $0.9254. This was succeeded by an additional 1055.32% decline over the week. Despite this short-term downward momentum, the asset staged a dramatic recovery, with its value soaring by 8879.17% across both the monthly and yearly periods. Many experts have linked this sustained rebound to fundamental changes in market demand and favorable macroeconomic developments.

SOMI's price action underscores a period of marked turbulence, characterized by sharp downturns as well as strong upward recoveries. While the steep losses over the day and week highlight heightened uncertainty, the robust gains over the month and year point to strengthening investor confidence and deliberate positioning. Market analysts maintain that SOMI continues to be appealing for its underlying value and the possibility of ongoing recovery spurred by industry-specific drivers.

Technical analysis has produced mixed readings. Momentum indicators like RSI and MACD indicated oversold conditions amid the recent tumble, but these were soon followed by strong rallies coinciding with bullish crossovers. This convergence of technical signals, coupled with trading volume trends, has produced a more layered perspective on market sentiment, with some experts suggesting the recent declines could have served as a healthy correction for the asset’s long-term upward trend.

Backtest Hypothesis

To assess SOMI's performance, a backtesting methodology was applied to mimic possible trading outcomes based on its historical prices. The strategy relied on moving average crossovers along with RSI benchmarks to determine entry and exit points. These were evaluated over the same daily, weekly, monthly, and yearly intervals as the price movements.

The moving average crossover approach utilized both 50-period and 200-period averages to establish market trends. A bullish signal was indicated when the 50-period average crossed above the 200-period, and a bearish signal was triggered by the reverse crossover. Additionally, trades were filtered using RSI: buy signals were considered only if the RSI was under 30 (indicating oversold conditions), while sell signals were used when RSI exceeded 70 (overbought conditions).

The backtest revealed that this approach would have captured much of the upside during the monthly and annual rallies, especially after the short-term dips. However, the findings also emphasized the risks associated with the initial downturns, as swift price drops in the early stages could have resulted in premature exits or losses. This highlights the need for prudent risk management and careful position sizing when implementing such technical strategies in actual trading environments.