Sonic Labs to transfer 13M S tokens via OTC deal as price dips near $0.053

Sonic Labs announced plans to move about 13 million S tokens under a strategic over-the-counter (OTC) agreement within 24 to 48 hours involving a long-term partner to expand network reach. The transfer, valued around $689,455 at current prices, represents 0.33% of circulating supply and does not imply new token issuance or dilution. This move follows Sonic's recent management changes and a deadline for airdrop claims, aiming to support ecosystem growth through partnerships. Meanwhile, S token price dropped nearly 6% to about $0.053 amid declining futures open interest and trading volume, with key support at $0.052 and resistance near $0.060.

S token's market cap stands at Rp2,76 trillion as of Oct 22, 2026 14:33 WIB, with a 24-hour trading volume of Rp287,37 million on Pluang. Despite the OTC deal involving 13 million tokens, the token's price on Pluang has dropped 5.73% to Rp957, mirroring the article's noted decline. The platform shows a sell bias with 58% of order activity and a typical hold time of 34 days, indicating cautious investor sentiment.