SOMI surges by 5167.69% within 24 hours as extraordinary growth persists

On September 7, 2025, SOMI experienced a remarkable 5167.69% surge within a single day, climbing to $1.5453 and marking one of its most notable daily gains. Over the previous week, SOMI's value had leapt by 21991.46%, with the same percentage increase observed over the past month and year, highlighting a trend of swift and sustained growth.

This significant rally comes on the heels of several on-chain and market events that have heightened investor interest and speculation. Market participants have noticed a shift in overall sentiment, influenced by rising inflows to exchanges and an uptick in active wallet addresses. Experts believe these patterns may persist if on-chain engagement remains strong and liquidity continues to facilitate price exploration.

From a technical analysis perspective, the latest price movement has captured the attention of traders watching important support and resistance zones. The sharp upward trajectory of SOMI indicates a breakout from previous consolidation, with momentum indicators pointing to continued bullish pressure. The Relative Strength Index (RSI) has moved into overbought levels, which may signal the possibility of a short-term pullback, although the robust upward trend could postpone any immediate correction.

The Moving Average Convergence Divergence (MACD) indicator has stayed in positive territory for several consecutive days, reflecting ongoing buying momentum. At the same time, the 200-day moving average is shifting away from a bearish stance toward a more neutral outlook, implying changing medium-term expectations among investors.

Backtest Hypothesis

To explore ways to benefit from these movements, a backtesting hypothesis has been formulated using the same technical factors that have characterized recent trading. The approach suggests entering a long position when the closing price exceeds the 50-day moving average, coinciding with a bullish MACD crossover and an RSI reading above 50. This method is designed to harness sustained bullish momentum while reducing the risk of false breakouts.

The approach features a flexible stop-loss set at the 20-day moving average and targets profits at the closest Fibonacci extension level. The backtesting setup aims to evaluate the effectiveness of this strategy under conditions similar to those historically observed, with an emphasis on timing entries, adjusting position sizes, and managing potential risks.