Sonic Network Activity Surges 89% Amid Price Divergence

Sonic's network activity has skyrocketed with an 89% increase in active addresses over seven days, signaling heightened user engagement. This surge coincides with new dApp integrations or incentive programs, yet the token price declined 7.08% to $0.3411, reflecting a puzzling divergence between on-chain metrics and market performance.

Exchange netflows remain negative at -$495.89K, suggesting investors are moving holdings off centralized platforms—either for long-term accumulation or risk aversion. Whale activity and spot taker sell pressure further complicate the outlook, capping upward momentum despite a recent wedge pattern breakout.

Key resistance at $0.379 now serves as a litmus test: a decisive breach could validate the on-chain activity surge, while rejection may prolong consolidation. Market participants await clearer signals as accumulation patterns clash with bearish derivatives data.