Sonic has experienced a sharp decline in active users, dropping from 1.1 million to 139.9K, signaling reduced engagement within its ecosystem. Despite this significant decrease, the trading volume remains stable at $15.83 million, indicating continued activity from core users and large investors. The $S token is currently trading between $0.30 and $0.32, with increased volume suggesting a potential breakout. The decline in active addresses since May 2025 may be linked to market conditions, fewer rewards, or decreased user activity. Sonic's network saw heavy trading in May and June, with daily volumes peaking at $340 million. However, trading has since stabilized, with current daily volumes ranging from $50 million to $120 million. As of September 5, 2025, the $S token is priced at $0.3072, with a 24-hour trading volume of $99.33 million.