Sonic’s 24% Surge: The Greed, The Gains, and The Gas Fees Behind the Rally

Another month, another meme coin mooning while ’serious investors’ scramble for explanations. Here’s what’s really driving Sonic’s 24% pump—and why your FOMO might be misplaced.

The hype cycle strikes again. Sonic’s rally isn’t about fundamentals—it’s about degenerate gambling pools front-running retail yet again. The token’s liquidity pools swelled 37% before the pump (surprise!), and now bagholders are left praying this isn’t another ’wen lambo’ trap.

Want in? Fine. But remember: In crypto, the house always wins—especially when that ’house’ is a Vegas-style casino pretending to be financial innovation.

Sonic leads major blockchains in market activity

Market sentiment has shifted in favor of Sonic (S) crypto, as several indicators show strong buyer interest. This interest is evident in the growth of addresses over the past weeks.

According to Nansen, Active Addresses for the memecoin doubled last week, surpassing 45,000.

Source: Nansen

The price increase during this period suggests most of these addresses belong to buyers, likely accumulating as selling pressure remains low.

On top of that, activity on decentralized exchanges (DEXs) reflected the same momentum.

DEX volume surged by 26% in the past week to $788 million, placing Sonic ahead of Avalanche [AVAX], Hyperliquid [HYPE], Aptos [APT], Polygon [MATIC], and Tron [TRX].

Such positive activity on Sonic tends to boost S’s utility and demand.

There has also been a significant liquidity inflow into the Sonic chain, placing it ahead of every other blockchain.

Source: Artemis

As per Artemis data, Sonic recorded a Bridged Netflow of $37.1 million — the highest among all blockchains.

Inflows of this magnitude often signal accumulation and may precede explosive moves if capital continues flowing in.

Binance top traders show selling pressure

However, sentiment from top Binance traders told a different story.

According to CoinGlass, the Long-to-Short Ratio for Binance’s top traders shows a strong tilt toward selling.

The Long-to-Short Ratio indicates whether buying or selling dominates, with values below 1 reflecting higher selling activity.

At press time, Binance’s top traders have a ratio of 0.7435, signaling elevated selling.

Source: CoinGlass

Moreover, market-wide signals added to the caution. The Open Interest Weighted Funding Rate stood at -0.0008% at press time — a subtle but clear bearish lean.

This metric combines Open Interest and Funding Rates to measure directional bias in derivative markets. A negative reading like this hints at increased short positions relative to longs.