SOMI jumps by 2289.9% within 24 hours amid a surge in bullish activity

On September 7, 2025, SOMI experienced a remarkable 2289.9% increase within a single day, reaching a price of $1.2793. Throughout the last week, the asset soared by 15,939.79%, maintaining this substantial growth rate over the past month and year as well. This impressive rally highlights a significant change in market sentiment, reflecting intense accumulation and heightened speculative interest.

The dramatic rise seems to be fueled by heightened on-chain engagement and an increasingly positive narrative surrounding the project’s technical advancements. Core developers have noticeably ramped up upgrades to the protocol, and more node operators are expressing confidence in the project’s long-term potential. Even without formal statements from the team, the market has proactively factored in potential future developments, propelling SOMI’s price far beyond its previous resistance points.

This price movement has attracted significant interest from quantitative analysts and algorithmic traders, who are monitoring SOMI’s reaction to crucial technical benchmarks. SOMI’s swift climb has set a new support level at $1.2793, with its 20-day and 50-day moving averages trailing well below, signaling a robust continuation pattern. Experts suggest that if strong on-chain participation continues and no significant regulatory challenges arise, the current bullish trend may persist.

Backtest Hypothesis

SOMI’s recent surge has inspired the creation of a tailored backtesting strategy to identify similar trends in future price behavior. This strategy merges moving average crossovers with signals from on-chain volume data. A buy signal is indicated when the 12-period exponential moving average (EMA) moves above the 26-period EMA, provided there is a notable uptick in on-chain transaction activity. Conversely, a sell signal is triggered when the EMA relationship reverses and the transaction volume falls below a set limit.

The strategy is built on the premise that early momentum, especially when combined with rising on-chain activity, often signals a broader market movement. The planned backtest will assess whether this combination of EMA crossover and volume confirmation could have captured SOMI’s explosive growth. Given the asset’s sharp rise, the approach aims to refine entry timing and reduce the risk of sharp pullbacks. If proven effective, this model could be applied more broadly to spot other rapidly appreciating assets within the cryptocurrency sector.