The SOON token experienced a significant 26% decline on November 16, as short-sellers exerted pressure and liquidity outflows intensified. The token's negative funding rates and a substantial $6.29 million liquidity withdrawal highlight the growing bearish sentiment in the market. This downturn comes ahead of a scheduled $32 million token unlock on November 23, which could further impact the token's price dynamics. Market analysts suggest that a breakdown below the critical support level of $1.94 could lead to an extended downtrend for SOON. Conversely, maintaining a position above this threshold might offer temporary price stabilization, although the upcoming token unlock remains a significant factor to watch.