Sui Network (SUI) is gearing up for a significant event on January 1, 2025, when nearly $300 million worth of its native token will be unlocked. This is part of Sui’s regular monthly process, which increases the circulating supply and can impact investor holdings and market dynamics.
Despite a 5.31% drop over the past week, SUI has been performing strongly overall. The token surged by 31.25% in the past month, reaching an all-time high (ATH) of $4.93, up from under $1. Currently priced at $4.26, it has achieved an impressive one-year gain of 413%, outpacing XRP’s 250% gain.
Analysts predict that SUI could rise by another $5 in the coming months, with the potential for even higher gains.
With its strong performance, many investors are asking whether SUI is the right choice for profit-taking. Let’s take a closer look at its growth potential.
Raoul Pal, CEO of Real Vision, is optimistic about SUI’s future, believing it could outperform major players like XRP and Solana (SOL) in the upcoming bull run. He points to SUI’s breakout from an inverse head-and-shoulders pattern as a sign of its potential for growth. Based on Pal’s analysis, many expect SUI to reach above $5 by Q1 2025, with some even predicting higher levels.
While Pal recognizes Solana’s strength as a well-established protocol, he sees SUI as a riskier but potentially more rewarding investment. He believes SUI’s upward momentum could surpass that of XRP, Solana, and even Ethereum (ETH), despite XRP showing signs of an explosive move after breaking a seven-year downtrend. Pal advises investors to balance their portfolios by focusing on established coins while considering small investments in high-growth assets like SUI to navigate the current bear market.
SUI’s Total Value Locked (TVL) recently surpassed $1.65 billion, fueling its price momentum. This milestone reflects the growth of its ecosystem, supported by bullish chart patterns, including a breakout from a head-and-shoulders formation. However, technical indicators such as the MACD histogram turning negative suggest caution, while the Relative Strength Index (RSI) remains neutral.
SUI is giving tough competition to XRP is quite surprising for crypto investors who are looking for a new investment opportunity. Since the coin is down at this moment it is a good time to stack the coin before the price rises.
SUI’s rise has been nothing short of remarkable, and with continued growth, it may just be the next big thing in crypto.
Yes, the SUI blockchain is one of the most prominent projects and is projected to gain significant value in the coming time.
Considering the Sui long-term price prediction, it may reach a high of $19.69 during 2029.
At the time of writing, the price of this altcoin was $4.32
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