TLDR:
- Sonic gains 16% after Coinbase confirms upcoming token listing
- Trading volume spikes 77%, open interest climbs to $100.6 million
- S reclaims key support and breaks May downtrend on strong demand
- $82M airdrop and 1inch DeFi integration boost ecosystem activity
Sonic’s native token, S, saw a sharp surge in value, climbing over 16% within 24 hours.
The sudden upswing follows multiple developments that have boosted interest and activity around the token. These include a planned Coinbase listing, increased trading volumes, and technical recoveries.
Sonic has also launched fresh incentive programs and integrated new features, drawing attention across the crypto market. The momentum points to growing investor confidence and increased participation across retail and institutional users.
Sonic Coinbase Listing Sparks Momentum
S price rose significantly after Coinbase confirmed it will list the token. The listing brings wider exposure, increasing the token’s accessibility and credibility among traders.
Sonic’s native token, $S, jumped 19% in the past 24 hours as #Coinbase announces listing.
#Sonic’s trading volume surged 77% to $270M and the open interest has increased by 20% to $100.60M.
Despite the recent gains, $S remains nearly 23% lower over the past month.
— Coinpedia Markets (@MarketCoinpedia) June 24, 2025
… According to Coinpedia Markets, this news helped push Sonic’s price up by 19% in a single day, while trading volume spiked 77% to $270 million.
Open interest in the token also rose 20%, reaching $100.6 million. These metrics reflect heightened speculation and renewed buying pressure. Market watchers believe the listing could attract long-term holders, especially if momentum continues.
On the charts, Sonic is showing signs of reversal. The 10-day moving average has turned supportive, although the 20- and 50-day averages remain as resistance. RSI has climbed back to 45, suggesting it is recovering from oversold levels but has not yet turned bullish.
Crypto trader Jago highlighted that Sonic recently dipped below its prior key level of $0.26 but quickly bounced back. This move mirrors a similar historical bounce seen in the Fantom chart, which eventually triggered a 460% rally.
According to Jago, S has now reclaimed its February low and broken above a May downtrend, showing strong buyer interest near the $0.34 zone.
Technical analysis for Sonic $S.
This was an important move. We wicked down to take out the Fantom weekly candle low of $0.26, which was the bottom of 2024 market in August.
This was a decisive turning point for $FTM that saw it run from $0.26 pretty much straight to $1.43 in… https://t.co/TlnD9FPib9 pic.twitter.com/tjg0TvihkC
— Jago (@0xJagoilio) June 24, 2025
Sonic Airdrop and DeFi Integration Fuel Interest
Beyond technicals, Sonic recently completed its Season 2 airdrop, distributing $82 million worth of S tokens to active users.
The initiative aims to boost token circulation and increase user activity within the ecosystem. This came just one day before the platform integrated with DeFi aggregator 1inch, enabling cheaper and faster cross-chain swaps.
These updates have helped reinforce investor sentiment, especially as the token had been trading nearly 23% lower over the past month. The back-to-back developments have created a favorable setup for renewed growth.
Current resistance sits around $0.3571, a key barrier that traders are closely watching.
Above that, levels near $0.42 and $0.50 could come into play, especially if bullish volume sustains. Longer-term targets, such as the $0.60 resistance dubbed the “Great Wall of Wintermute,” remain a challenge, but a breakout could lead to further upside.
The post Why is the Sonic (S) Price Up Today? appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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