Recent price movements of Sonic (S) underscore a classic dynamic in the crypto market: strong technological innovation and solid fundamentals can drive price gains, yet macro conditions and market sentiment remain the primary determinants. The following analysis combines the latest data with previous reports, supplemented by citations from reliable sources.

On September 9, Sonic recorded its weekly high at US$0.3178, driven by the announcement of Sonic network integration with GoldRush and Foundation APIs via Covalent, enabling data architecture with speeds up to 400,000 TPS. Additionally, a MACD crossover indicated medium-term bullish sentiment, although the price remained 65% below its all-time high (ATH) of US$1.03.

However, the price surge was short-lived. Sonic corrected to approximately US$0.3051, leaving a weekly gain of only 0.4%. This suggests that overall crypto market pressure was sufficient to offset the positive catalyst for the token.

Tokenomics factors added further pressure. On September 9, 150 million S tokens (about 5% of the total supply) were unlocked, equivalent to US$45.4 million. This increased the risk of oversupply and potential sell-offs by early holders, coupled with declining daily trading volume, highlighting the need for a token burn strategy to mitigate dilution effects. Technically, Sonic faces resistance in the US$0.29–0.328 range, with RSI signaling weakness. Short-term analysis estimates a downside risk toward US$0.2295 if bearish sentiment persists.

On the optimistic side, Sonic is executing strategic expansions, including a US$200 million development proposal for Sonic USA, planned ETF/ETP launches, and Nasdaq partnerships. These initiatives could open access to institutional capital and strengthen token utility over the medium to long term.

Sonic experienced a notable price increase driven by technological innovation and strategic integration. However, global market corrections and token unlocks erased much of the gains. Short-term technical indicators have yet to fully support a bullish trend. Nevertheless, expansion into the U.S. traditional market and institutional involvement signal medium-term optimism. Sonic now stands at a crossroads between short-term market pressure and long-term growth opportunities.