Somnia (SOMI) Eyes $1.20 Following Binance Listing and $1.5M Reward Campaign

Jakarta, Pintu News – According to Tron Weekly (8/9/25), Somnia (SOMI) showed a strong performance as investors stepped up their efforts despite the current volatile market.

In 24 hours (8/9), the price of SOMI increased by 53.31%, and in the past week it also recorded an increase of 53.63%. As of September 8, SOMI crypto was trading at $1.05 with a trading volume of $707.97 million, a sharp increase of 171.18% compared to the previous day.

In general, the crypto market is starting to reverse direction from a bearish to a bullish trend, as investor confidence in digital assets increases. This change has also impacted the overall market, including altcoins like WLFI.

Binance Officially Lists Somnia (SOMI) with $1.5 Million Prize

According to crypto analysts, Somnia has confirmed its listing on Binance – a major achievement for the project and the SOMI token.

Read also: XRP Price Update: XRP Accumulation Surges — Is a Price Rally on the Horizon?

To celebrate this milestone, Binance Spot is holding a special two-week event from September 2 to September 16, which includes three events with a total prize pool of 1.5 million SOMI in token vouchers.

SOMI’s listing on Binance gives the token global exposure, while increasing liquidity and visibility to millions of users around the world. For Somnia, this strengthens its presence in the blockchain world, as it develops an ecosystem focused on digital creativity and asset ownership.

With Binance’s support and the large rewards on offer, this move encourages early adoption, strengthens community participation, and lays the foundation for the long-term growth of the project.

Somnia (SOMI) Crypto aims for $1.20 price based on technical indicators

Somnia (SOMI) crypto is showing strong bullish signals on the chart. The current price is still well above the middle line of the 20-period Bollinger Band at $0.92, while the upper limit of the indicator is at $1.16.

The RSI (Relative Strength Index) stands at 66.95, down from 74.86 previously, indicating momentum is still strong but has not yet entered the overbought zone. The MACD indicator also shows a bullish trend and continues to reinforce the upside prospects.

Based on the data in the image above, SOMI crypto recorded a daily high of $1.08 and a low of $1.01, indicating consolidation at the top of the recent price range. If the uptrend continues, the next upside target is $1.20.

Read also: Altcoin Season Hits a Standstill as Investors Eye September Fed Decision

However, if the price drops, the $0.92 level (middle line of the Bollinger Band) becomes an important support area to watch.

Derivatives Market Supports Somnia Rally as Open Interest Rises

Somnia’s derivatives market also showed strength in line with price movements. Trading volume rose by 74.87%, and open interest (OI) jumped sharply by 256.25%, reaching $85.42 million and $2.98 billion respectively.

This surge indicates a strong positioning of speculators betting on continued volatility and potential price increases.

However, the OI-weighted funding rate stands at -0.1141, which means short traders are paying to long traders – signaling very high demand for long positions.

While this indicates bullish sentiment, the imbalance could trigger a sudden correction if market sentiment changes. Funding trends are therefore an important risk factor to keep an eye on.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• TronWeekly. Somnia (SOMI) Targets $1.20 Amid Binance Listing and $1.5M Incentives. Accessed on September 9, 2025