Sonic has seen a significant drop in user engagement, with active addresses falling from 1.1 million to 139.9K. This decline suggests a shift in momentum, leaving traders to ponder whether the hype is fading or a major breakout lies ahead. While trading volume remains steady, indicating that core users and whales are still active on the network, price action reveals a tight range with low momentum, but a potential breakout could be imminent. 1.1 million active addresses were recorded earlier in the year, marking a notable increase. This growth was fueled by user onboarding and growing interest in Sonic’s ecosystem. However, after May, this trend reversed, with active addresses dropping significantly to 139.9K as of September 3rd. Crypto trader @kylobtc observed this shift, noting that while the number of users fell, trading volume remained steady. This suggests that despite a decline in user activity, the Sonic ecosystem is still actively engaged. Despite market conditions, fewer rewards, or a slowdown in activity, these numbers could be attributed to the slow-down in user engagement. With user activity slowing down, the question remains: can Sonic maintain this momentum and avoid further losses? The network shows signs of continued growth, with trading volume remaining stable despite a shift towards more consistent usage. The network’s momentum is picking up in preparation for the Sonic Summit in late September. Trading volume began to increase significantly after May 2025, peaking during June and July before settling down by August. A key event that likely contributed to this increased trading activity was a major token launch or an associated event. However, since July and August, trading volumes have been more stable. The daily DEX volume has generally stayed around $50M to $120M. While there’s no immediate surge in trading, the overall sentiment remains positive as traders anticipate further growth. The price of Sonic (S) is currently fluctuating between $0.30 and $0.32. Volume has increased recently, but momentum remains low. The MACD indicator shows a mild bullish trend, while the RSI sits at 49.11, indicating low momentum. Despite this tight range with high trading volume, traders are closely monitoring for a breakout. Sonic is currently trading at $0.3072 with a 24-hour volume of $99.33M, marking a slight increase in price on the last day but a dip of 3% over the week. 8 hours ago, the S price was hovering just below $0.3072 and then surged past the resistance level. The potential breakout is being closely watched by traders with a strong interest in the upcoming Sonic Summit. , 4-hour chart on the price of Sonic (S) shows a tight range between $0.30 and $0.32. This tight range indicates indecision and lack of clear direction. The MACD indicator hints at a potential bullish trend, while the RSI sits at a neutral level. Overall, the short-term outlook for Sonic remains unclear, but traders are cautiously optimistic that a breakout could occur soon.