SUI crypto has just undergone a significant surge, with the token experiencing a 70% increase in value in a matter of hours. Interestingly, this surge could even increase if the talks of SUI and Pokémon become a reality. Let’s see if the token is ready to take the leap and grow beyond its intended purpose.
What Sparked The Rally?
SUI has managed to break into the scene with some real and credible momentum. As a result, the token is likely priming itself to become one of the big names. Here are some of the catalysts that could push the price higher for SUI.
- DeFi Ecosystem: SUI’s DeFi projects are on a roll. The overall TVL of the token has risen by 40%, meanwhile SUI-based DEXs have surged by 177%.
- Stablecoin Growth: The market is showing positive growth in the stablecoin arena. The niche expanded by 82% in just two months. The overall valuation of the niche is around $879 million.
- SUI Trust Launch: Institutional interest in the token by Grayscale is another reason why small and medium investors are also looking to get in on the action.
- Payment Integration: Partnership with payment portals like xPortal and XMoney has enabled the blockchain for easier payment options.
- Pokemon Collaboration: This might sound weird, but a product partnership with Pokémon can catapult SUI’s popularity among the young masses.
Technical analysis
In all honesty, SUI has shown good traction in the last few days. SUI managed to reverse a 108-day downward trend and establish a strong bullish run. This has instilled confidence in the investors and made the token a noteworthy name.
The overall RSI indicates that SUI is gradually approaching an overbought stage. This could create some short-term volatility. Then again, the broader trend of the token suggests that it is set to grow and become significant in the upcoming years.
SUI Price Prediction
SUI is making good headway in the long run. However, assuming everything will work out is too high an expectation. Here is how SUI prices could unfold in the long run.
- Conservative: As per the conservative run, the token could oscillate between the $5.00 and $6.50 mark.
- Bullish Case: If the bullish case materializes, the token could fluctuate between $8.00 and $10.00.
- Speculative Moonshot: Under perfectly ideal conditions, the token could oscillate between the $12.00 and $15.00 mark.
Hidden Catalyst For Growth
The SUI ecosystem is easily one of the most prominent ecosystems in the blockchain. The attention is not just on the coin. Emerging DeFi innovations and SUI-based meme coins, such as BLUB and LOFI, are introducing diversity to the coin itself. If you plan to explore SUI, now seems like the right time.
Then again, the market can flip at any point in time. Therefore, sit and observe the metrics before making a commitment.
