SOON Foundation’s Bold $200,000 Buyback Program Aims to Revive Token Price After 41% Crash
In a dramatic move to counter a 41% price crash, the SOON Foundation has announced a $200,000 buyback program. This initiative aims to stabilize the SOON token price and restore investor confidence after a suspected market manipulation incident. Here’s what you need to know.
What Triggered the SOON Token Price Crash?
The SOON token experienced a sharp 41% drop on July 5, 2025, due to coordinated selling and shorting. Key factors include:
- Mass withdrawal of 22 million SOON tokens from Bitget.
- Coordinated sell-offs on Bithumb, Upbit, and Gate.io.
- Large short positions opened on derivatives platforms.
The SOON Foundation denies involvement and has provided wallet addresses to support their claim.
How the $200,000 Buyback Program Works
The SOON Foundation’s buyback program allows token holders to redeem SOON tokens at a fixed price of $0.14 each. Key details:
- Portal: redemption.soo.network
- Funded by protocol-generated revenue.
- Part of a broader plan to burn and buy back 30 million tokens (3% of total supply).
The announcement led to a 5% price increase, testing resistance at the 20-day EMA.
Can Buyback Programs Truly Stabilize Crypto Prices?
While buybacks offer short-term relief, their long-term effectiveness is debated. Examples from other projects show mixed results:
| Project | Buyback Amount | Outcome |
|---|---|---|
| Project A | $440M over 4 years | Moderate price stability |
| Project B | $100M | Short-term spike, then decline |
The SOON Foundation emphasizes this as a stabilizing buffer, but questions remain about funding sources and duration.
What’s Next for SOON Token Holders?
The SOON Foundation is focusing on:
- New exchange listings.
- Upcoming product releases.
- Community-approved token burns.
Investors should monitor the redemption portal and broader market trends for signals of recovery.
Frequently Asked Questions (FAQs)
Q: How long will the SOON buyback program last?
A: The SOON Foundation has not disclosed a specific end date, stating it depends on fund availability.
Q: Can the buyback program prevent future price crashes?
A: While it may reduce volatility, external market factors and manipulation risks remain.
Q: Where can I redeem my SOON tokens?
A: Visit redemption.soo.network to participate in the program.
Q: What other measures is SOON taking to stabilize the token?
A: The community approved burning 30 million tokens, and new exchange listings are planned.
