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SOON Token Price Prediction: Will It Break $0.60 and Soar to $1?

As the rest of the crypto market remained steady on May 23, newbie SOON in the field of blockchain just broke out with a surprising 25% jump. At $0.5869, SOON's dramatic breakout has caught the interest of retail traders and also of crypto whales.

But such was not the hype. SOON rally strength appears to be supported by sound fundamentals with Jump Crypto entering the picture. Solscan on-chain analytics reported that a wallet tagged "Gtxgn," normally belonging to Jump Crypto, took in 2 million tokens. This action followed by a small transfer to a Gate.io deposit address is characteristic of likely market-making activity.

Exchange Listings Boost Liquidity and Credibility

Among the foremost driving forces behind SOON's unprecedented growth is being available for exchange on high-tier exchanges. Most critically, Binance has just activated SOON/USDT perpetuals with up to 50x leverage—a development that dramatically raised awareness and volumes.

The token also saw an dramatic increase in its 24-hour trading volume to $38.28 million, with a fully diluted valuation (FDV) of $587.31 million. This type of publicity generally sets the stage for higher adoption and stability in price.

Technical Analysis: $SOON Trading in a Critical Range

Technically, the token is already moving in a tight range of $0.4500 to $0.6000. This sideways action is a market indecision sign and precedes a high-drama breakout.

Bullish Case: In the event that the token can support at $0.6000, then the next horizon would be $1.000, more particularly with increasing investor confidence and volumes.

Bearish Scenario: However, The price dropping below $0.4500, however, would set off the correction, with the price declining to the level of the $0.3000–$0.2000 support zone.

Source: CoinMarketCap

This connected movement suggests that the next spike will have significant implications for deciding the mid-term direction of the token.

Jump Crypto's Entry Indicative of Long-Term Prospects

Onboarding institutional has always been a seal of approval, and Jump Crypto participation can be a massive green checkmark for HODLers. Famous for investing in winning blockchain protocols, Jump's participation can be something more than mere market-making.

If this is true, then such intervention would translate to increased liquidity, improved price stability, and potential ecosystem growth—key indicators of price appreciation and investor psychology.