SUI Price Prediction: What’s Next for SUI Amid Market Volatility?
As the cryptocurrency market grapples with regaining momentum, Sui has stood out with impressive price movement in recent days. Reports indicate that the project has surged by 25% over the past 10 days.
$SUI Market Cap Exceeds Domino's Pizza
A key milestone for Sui has been its market capitalization surpassing that of Domino's Pizza ($DPZ). With $SUI's market cap reaching $14.27 billion, it edged out Domino’s valuation of $14.25 billion, marking a notable achievement for the altcoin.
Whale Activity Signals Risk of Liquidation
According to Lookonchain data, a significant whale position on $SUI is teetering on the edge of liquidation. The whale has deposited 4.1 million $SUI (valued at $19.3 million) along with 100,000 $sSUI (worth $470,000) into the Suilend protocol and borrowed $14.4 million in stablecoins against this collateral.
The situation is precarious, as a drop in $SUI's price to $4.56 could trigger liquidation of this massive position. This highlights the risks of leveraged positions in volatile markets, with fluctuations in token prices posing significant challenges for large-scale borrowers.
Layer-1 Project Hits $2 Billion TVL, Signals Undervaluation
This Layer-1 blockchain project has achieved significant progress, reaching a noteworthy milestone with its Total Value Locked (TVL) Near $2 billion. Additionally, with 68.72% of its tokens, equivalent to 6.61 billion SUI tokens, currently locked, the altcoin is widely regarded as being significantly undervalued.
SUI Achieves Remarkable Milestone with 40 Million Total Users
In the past 30 days, $SUI has witnessed impressive growth, adding 40 million active accounts to its platform. This marks a significant 20.35% increase in total active accounts, showcasing the platform's growing popularity and user engagement.
Sui Price Predictions
The SUI cryptocurrency has shown impressive strength, keeping its upward momentum steady over the past week. Since the start of November 2024, it has been moving within a rising channel pattern, reflecting a consistent and promising uptrend.
On the daily charts, SUI is trading above all major moving averages, and its RSI is comfortably above 50—both of which are positive signals pointing toward further growth. If the token manages to maintain this momentum and break past its all-time high (ATH) of $5.35, it could set the stage for a potential climb to the $6.00 mark.
On the flip side, if the trend shifts downward, SUI might fall below the critical support level of $4.70. A stronger bearish push could even drive the price down to $4.40, testing the support trendline of its rising channel.
