SONIC Booms To The Top
The cryptocurrency market has experienced its first major correction, losing more than $227 billion in market value. Bitcoin’s fall below the $100,000 mark triggered a decline in multiple altcoins, adding to the bearish momentum.
BeInCrypto analyzes three altcoins that are currently generating interest and popularity for unique reasons amid market turmoil.
SonicSVM (Sonic)
SONIC receives widespread attention cryptocurrency market There have been huge changes in the past 24 hours due to Tuesday’s highly anticipated token generation event. The event positioned SONIC as a hot topic in the altcoin space, highlighting its growing influence in the cryptocurrency space Blockchain games ecosystem.
As part of Layer-2 game chain development SolanaSONIC has announced that participants in its TikTok-inspired click-to-earn game will receive airdrop tokens based on their in-app progress. This strategic move aims to incentivize user participation while enhancing the utility of the token within the platform.
Following its launch, SONIC’s price has experienced a significant surge since its initial listing and is currently trading at $0.93. The coin is trying to secure the $1.00 level as support. However, bearish market conditions could challenge its ability to maintain this key level, potentially affecting its short-term outlook.
Virtual protocol (VIRTUAL)
virtual price The company has been under scrutiny after falling a whopping 23% over the past week. The decline marks a sharp reversal from its previous bullish trajectory, raising concerns among investors about the altcoin’s ability to regain momentum in the near term.
This loss is particularly notable because just a month ago, VIRTUAL surged 155% to an all-time high of $5.25. This rapid rise showed strong market confidence at the time, but subsequent corrections caused investors to reassess their positions.
It currently remains above $3.26. There is a virtual If investors resist the urge to sell, there is a chance of recovery. However, any chance of recovery may be lost if it falls below $3.26, leaving the altcoin vulnerable to further losses.
Sui (Sui)
su price Mirroring VIRTUAL’s trajectory, it fell 14.6% in 72 hours after reaching an all-time high (ATH) of $5.36. The sudden drop highlighted growing selling pressure in the market.
Partial reversal of 28% year-to-date gain Sui It fell below the $4.79 support and is currently trading at $4.58. A rebound from support at $4.05 prevented further losses, but investors remained cautious.
Continued reductions may result in SUI retest Key support at $4.05. However, reclaiming $4.79 as support could invalidate the bearish sentiment, allowing the altcoin to regain upward momentum.
Disclaimer
conform to trust project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions, privacy policyand Disclaimer Updated.
