Sun Price Prediction 2024: SUN Price Analysis
What's next for Sun? l Credit: Hameem Sarwar/CCN.com
Key Takeaways
- SUN.io is a platform on the TRON blockchain.
- It introduced a new governance token, SUN, following a redenomination.
- One Sun price prediction says it could reach $0.0596 next year.
SUN.io is a platform on the TRON blockchain that offers a large suite of Decentralized Finance (DeFi) tools. As the first platform of its kind on TRON, SUN.io seamlessly integrates stablecoin swapping, token mining, and self-governance. Users can exchange different stablecoins with minimal fees and slippage, participate in liquidity mining programs to earn rewards, and take an active role in shaping the platform’s future through community voting and governance proposals.
SUN.io has also introduced a new governance token, SUN, following a redenomination. This multifunctional token offers holders voting rights, allowing them to participate in platform governance, influence the direction of SUN.io, and benefit from the growth and success of the ecosystem. Additionally, SUN holders can earn passive income by staking their tokens for attractive rewards.
On August 23, 2024, SUN was worth about $0.02338.
Sun did not respond to a request for comment.
Let’s now take a look at our Sun price prediction. We’ll also examine Sun price history and explain a little about what Sun is and what it does.
Sun Price Prediction
Let’s analyze some of the Sun price predictions CCN made on August 23, 2024. It is crucial to remember that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate.
| Minimum SUN Price Prediction | Average SUN Price Prediction | Maximum SUN Price Prediction | |
|---|---|---|---|
| 2024 | $0.0207 | $0.0458 | $0.0506 |
| 2025 | $0.0496 | $0.0582 | $0.0596 |
| 2030 | $0.16 | $0.17 | $0.18 |
Sun Price Prediction for 2024
If the positive momentum continues and SUN breaks above its moving averages, it could reach targets between $0.0207 and $0.0506 by the end of 2024, with the average price set at $0.0458.
Sun Price Prediction for 2025
Technical analysis suggests a potential increase for Sun in 2025. The minimum SUN price expected for 2025 is $0.0496, while the maximum is $0.0596. On the other hand, the average forecast suggests it may reach $0.0582.
Sun Price Prediction for 2030
Based on technical analysis, the SUN token may reach a maximum level of $0.18 at the beginning of the next decade, while, in the worst scenario, it may go to $0.16. Meanwhile, the average expected price is $0.17.
Sun Price Analysis
The SUN/USDT pair has been showing a strong uptrend, with a notable price increase recently. The price has broken above the $0.02291 resistance level, signaling a potential continuation of the bullish momentum.
Key technical indicators further confirm this trend. Both the 50-day and 200-day moving averages are sloping upwards, underscoring the ongoing bullish sentiment. The nine-day Exponential Moving Average (EMA) is also trending higher, reflecting strong short-term bullish momentum. Additionally, the price is currently trading above the upper Bollinger Band, which suggests a robust bullish breakout.
The Parabolic SAR dots remain below the price, reinforcing the ongoing uptrend, while increasing average volume points to growing interest and the potential for further price movement. The MACD line being above the signal line and histogram also confirms the bullish trend.
Looking ahead, the $0.02291 level, which previously served as resistance, could now act as a support level. The next significant resistance is around $0.02983. Based on this analysis, the SUN/USDT pair appears to be in a strong uptrend, with indicators suggesting the price could continue to rise. However, it is important to monitor the market closely for any signs of reversal or pullback, and traders should consider using stop-loss orders to manage risk effectively.
Short-Term Sun Price Prediction
The Sun price prediction for the next 24 hours indicates a potential rise of 6%. Meanwhile, it could well rise 221% in the next month, with the token expected to reach $0.07782 by Sep. 22, 2024.
Technical indicators suggest a bullish sentiment, despite the Fear & Greed Index showing a level of 34 (Fear). Over the past 30 days, Sun Token has experienced 14 green days out of 30, with a price volatility of 22.25%.
Given this forecast, now appears to be an opportune time to consider buying Sun Token.
Sun Relative Strength Index (RSI): Is SUN Overbought or Oversold?
Sun Price Performance Comparisons
| Current Price | One Year Ago | Price Change | |
|---|---|---|---|
| Sun | $0.02338 | $0.005361 | +369% |
| Ontology Gas | $0.04922 | $0.0399 | +26% |
| Loom Network | $0.2421 | $0.2503 | +0.2% |
| eCash | $0.00003464 | $0.00002397 | +45% |
How Do We Make a Sun Price Prediction?
Our price prediction for Sun combines technical analysis tools and recognizes the logic in price cycles. We’ve primarily used the Elliott Wave Principle, which describes these price movements in their motive and correction phases. Applied to the Sun-specific time-frames and its price history, we can come up with the targets, although the further we project, the less accurate they are because they depend on what happens in between.
Best Days and Months to Buy Sun
We looked at Sun’s price history and found the times when the price was at its lowest across certain days, months, quarters, and even weeks in the year, suggesting the best times to buy SUN.
| Day of the Week | Friday |
| Week | 34 |
| Month | March |
| Quarter | First |
SUN Price History
| Time Period | Sun Price |
|---|---|
| Last week (August 16, 2024) | $0.0103 |
| Last month (July 23, 2024) | $0.01062 |
| Three months ago (May 23, 2024) | $0.01275 |
| One year ago (August 23, 2023) | $0.005361 |
| Launch price (June 22, 2021) | $0.02037 |
| All-time high (November 15, 2021) | $0.03935 |
| All-time low (November 22, 2022) | $0.004934 |
Sun Market Cap
The market capitalization, or market cap, is the sum of the total SUN in circulation multiplied by its price. On August 23, 2024, Sun’s market cap was $245.5 million, making it the 184th largest crypto by that metric.
Sun Supply and Distribution
| Supply and distribution | Figures |
|---|---|
| Total supply | 19,900,730,000 |
| Circulating supply (as of August 23, 2024) | 9,951,640,722 (50% of the total supply) |
From the Sun Whitepaper
In its technical documentation, or whitepaper , Sun says that it is a “a social experiment filled with unlimited imaginations. It is a crucial component of the TRON DeFi.
“Together with the other developed decentralized finance (DeFi) projects, it enriches the whole TRON ecosystem. It may also take part in decentralized lending, insurance, liquidity, stable coins, etc. SUN is completely initiated, driven and developed by the SUN community. All of SUN’s functionalities will be implemented by open-source smart contracts, and is wholly operated by the community. The functionalities are developed based on community initiatives. All proposals and decision making are voted via SUN within the community, minority obeys majority”
Sun (SUN) Explained
SUN.io is a multi-faceted platform on the TRON blockchain designed to provide users with a range of DeFi services. Key features include:
- Stablecoin Swapping: Efficiently exchange various stablecoins.
- Token Mining: Participate in token mining activities to earn rewards.
- Community Governance: Influence the platform’s direction through voting and governance proposals.
How Sun Works
The SUN token, the platform’s governance token, offers holders the ability to participate in community decision-making, receive staking rewards, and benefit from the platform’s growth.
Is Sun a Good Investment?
It is hard to say at this time. While the crypto has performed extremely well recently, there is always the possibility that things could go wrong at any time.
Although Sun does a lot of things, it could be argued that it might benefit from a bit more focus. Certainly, new developments and its community support are essential for its future growth.
As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in SUN.
Will Sun go up or down?
No one can really tell right now. While the Sun crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.
Should I invest in Sun?
Before you decide whether or not to invest in Sun, you will have to do your own research, not only on SUN, but also on other, related, coins and tokens such as Cronos (CRO) or Cosmos (ATOM). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
FAQs
Will Sun reach $1?
Price predictions based on technical analysis expect it to reach that level in the second half of the next decade.
What is Sun used for?
SUN.io is a comprehensive platform built on the TRON blockchain, offering users a variety of DeFi services. It enables efficient swapping of stablecoins, allowing users to exchange different stablecoins seamlessly. The platform also provides opportunities for token mining, where participants can earn rewards through mining activities. Additionally, SUN.io empowers its community by allowing them to influence the platform’s direction through voting and governance proposals, fostering a collaborative and dynamic ecosystem.
Disclaimer
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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