Sonic’s 24% Monthly Rally Defies Bearish Sentiment as On-Chain Activity Surges

Sonic has emerged as one of the strongest performers in the memecoin sector, posting a 24% monthly gain alongside a 1.20% daily uptick. The rally shows no signs of slowing, with on-chain metrics painting a bullish picture despite conflicting trader positioning.

Network activity tells the real story—Nansen data reveals Active Addresses doubled last week, surpassing 45,000. This surge in new buyers contrasts sharply with derivative market skepticism, creating a fascinating divergence. When retail accumulation meets professional caution, volatility often follows.

The blockchain now leads its peers in raw market activity, though sustainability concerns linger. Momentum traders are betting the address growth translates into continued price appreciation, while bears point to overheated conditions. One thing’s certain: in the memecoin arena, fundamentals take a backseat to pure network effects.