What is Sominia and is it worth buying?
1. Somnia Network is a layer 1 blockchain compatible with EVM (Ethereum Virtual Machine) designed to handle large-scale consumer applications in real time — particularly games, metaverse, social networks, and data-heavy DeFi.
The native token $SOMI is used for transaction fee payments, staking to participate in network security, and governance, similar to most other layer 1 tokens.
2. Is Somi worth buying?
- At the current price of 0.75 corresponding to a market capitalization of 136 million $ and fdv of 750 million $, it is very much worth adding to the buying list for the future.
- The daily candle shows a tendency to test the 0.67$ range, which will be a stable entry point to buy in and gradually DCA towards 0.6$.
- With a mechanism to burn 50% of transaction fees, the supply of Somi will gradually decrease over time, a plus point for the project.
- My expectation for the short-term profit-taking region after purchasing is around 0.8 - 0.9$, while in the long term, with an uptrend, it could definitely reach 4 - 5$, a normal figure for layer 1 tokens during an uptrend season.
Personally, I will observe the price and the team's operations to assess whether to buy in or not because the attractive buying price has not yet arrived.
