Recently, the native token of Somnia Network, SOMI, has seen a significant price correction, with the current trading price close to $0.84 and a market capitalization of approximately $135 million. Compared to the high point set in early September, SOMI has fallen over 50%. In the last 24 hours, SOMI has dropped nearly 7% again, with the relative strength index (RSI) decreasing to around 36, indicating a short-term oversold condition.

It is worth noting that despite the price fall, the trading volume of SOMI remains high, indicating that market participation is still active, with fierce competition between bulls and bears. From a technical perspective, the range of $0.80 to $0.82 may become a key support level. If this area can be held, SOMI is expected to challenge the resistance zone of $0.94 to $0.96 again. After breaking through this resistance, the market may attempt to break the $1 barrier once more. However, if the support level is broken, investors need to be cautious of the price potentially further dropping to $0.75 or even lower.

From the perspective of project development, Somnia is rapidly expanding its ecosystem. According to official news, Somnia has established partnerships with over 70 projects, including Google Cloud, LayerZero, and Thirdweb, focusing on cross-chain functionality and on-chain performance improvements. These collaborations are expected to bring more practical application scenarios and users to Somnia.

In terms of token economics, the total supply of SOMI has been fully issued, and the circulating supply accounts for 16%, which means that the risk of selling pressure due to large-scale unlocking in the short term is relatively limited. Several well-known exchanges have already supported SOMI trading, providing sufficient liquidity for the token.

The long-term development vision of Somnia Network remains unchanged, aiming to create an EVM-compatible public chain capable of supporting internet-level applications, with the potential to achieve a transaction processing capacity (TPS) of millions per second, particularly suitable for the development and operation of large-scale on-chain games, social platforms, and virtual worlds.

Although short-term price fluctuations are greatly influenced by market sentiment and technical factors, the medium to long-term trend will depend more on whether ecosystem cooperation can be translated into actual on-chain activity. Whether SOMI can break through and stabilize above 1 dollar will be an important indicator of project popularity and market confidence. While investors pay attention to price trends, they should also continuously monitor Somnia's technological progress and ecological development.