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Sui Price Prediction 2024: SUI Price Analysis

Last Updated 4 days ago
Valdrin Tahiri
Last Updated 4 days ago
By Valdrin Tahiri
Verified by Peter Henn

Key Takeaways

  • The Sui blockchain and its native SUI are relative newcomers to the crypto market, having come out in 2023.
  • Despite its recent arrival on the scene, SUI is already one of the top 100 cryptos by market cap.
  • Our price predictions suggest SUI can reach a new all-time high in 2025.

SUI, the native token of the Sui blockchain, rallied in late 2023 and early 2024, breaking past the dollar on its way to an all-time high of $2.18 on March 27.

The news came as Sui announced a partnership with fintech company and neobank Revolut.

On March 27, Sui announced that it was teaming up with British neobank Revolut in an attempt to educate the fintech firm’s customers about crypto.

Sui Foundation MD Greg Siourounis said: “By joining forces with Revolut, we have a chance to introduce millions of users to Sui, the fastest growing ecosystem in crypto, and one which is providing the technological underpinnings that will enable businesses to build working solutions and empowering individuals to access those products and services seamlessly.”

On July 12, 2024, SUI was worth about $0.74.

Let’s now take a look at our own price predictions for SUI, made on July 12, 2024. We will also examine the SUI price history, and talk a little about what SUI is and what it does.

SUI Price Prediction 

Here are the SUI price predictions from CCN.com on July 12 2024. It is important to remember that price forecasts, especially for something as potentially volatile as crypto, very often end up being wrong.

Minimum SUI Price Prediction Average SUI Price Prediction Maximum SUI Price Prediction
2024 $3.40 $4.20 $5
2025 $2.80 $3.50 $4.20
2030 $1.44 $1.80 $2.16

There are two methods used to create our SUI price predictions. More specifically, predictions are created using fractals (mirroring movements and indicator readings) and the wave count. However, since SUI’s price history only goes back to April 2023, only the wave count method will be used. Then, 20% is added and removed from the final target to arrive at the minimum and maximum SUI price predictions.

The most likely wave count suggests SUI has completed a five-wave upward movement and A-B-C correction, which ended in July. This was likely part of wave one and two in a long-term five-wave upward movement.

Using the 1.61 length of wave one leads to a target of $5.31 for the top of wave three, and then the $12.40 final target is created by giving waves one and five the same length. The entire upward movement is projected to have 1.5 times the length of the current one, giving each wave approximately the same duration.

SUI Future Wave Count
SUI/USDT 3-Day Chart | Credit: Valdrin Tahiri/TradingView

The wave count price prediction gives SUI targets of $4.20 and $3.50 at the end of 2024 and 2025, respectively. The price is predicted to reach a new all-time high of $12.40 in July 2025.

Finally, we use the rate of increase for the past year to predict the SUI price at the end of 2030. In the 365 days since July 2023, SUI has increased by 25%, for a daily rate of increase of 0.05.

Projecting this rate of increase until the end of 2030 leads to a price prediction of $1.80. Adding and removing 20% to this target leads to the minimum and maximum SUI price predictions.

SUI Price Prediction for 2024

Our wave count method gives an SUI price prediction range between $3.40 to $5 for the end of 2024.

SUI Price Prediction for 2025

Our wave count method gives an SUI price prediction range between $2.80 to $4.20 for the end of 2025, which will mark the end of the bull run.

SUI Price Prediction for 2030

Using the rate of increase for the past year leads to an SUI price prediction range between $1.44 and $2.16.

SUI Price Analysis

The daily time frame SUI price forecast shows a decline inside a descending parallel channel, which usually contains corrective structures.

On July 5, SUI bounced at the channel’s support trend line, starting the current upward movement. However, it has yet to move above its midline, failing to confirm the trend reversal.

SUI Price Analysis
SUI/USDT Daily Chart | Credit: Valdrin Tahiri/TradingView

Additionally, the daily RSI and MACD do not give any bullish signals yet. Neither has generated any bullish divergence, the MACD is below 0 and the RSI is below 50.

As a result, both an increase toward the channel’s resistance trend line and a decline toward its support is possible.

Short-Term SUI Price Prediction

The SUI price prediction for the next 24 hours depends on whether the price breaks out above the channel’s midline or gets rejected. In case of a breakout, SUI can increase to the resistance trend line at $0.95 by the end of the week.

On the other hand, a rejection can take the price to the support trend line at $0.45.

SUI Short-Term Price Prediction
SUI/USDT Two-Hour Chart | Credit: Valdrin Tahiri/TradingView

SUI Fear & Greed Index

The Fear & Greed Index measures the market sentiment on a scale from 0 (Extreme Fear) to 100 (Extreme Greed). It aggregates factors such as volatility, market momentum/volume, social media activity, dominance, and trends to provide a sentiment overview.

Extreme fear can suggest investors are overly worried, potentially presenting a buying opportunity, whereas extreme greed indicates excessive bullishness, often signaling an imminent market correction.

Fear & Greed Index
  Fear & Greed Index | Credit: Bitdegree

On July 12, 2024, the Fear & Greed Index was at 25, a sign of fear. It showed fear at 29 last week and it showed greed at 72 last month.

SUI Average True Range (ATR): SUI Volatility

The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days. A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility.

SUI Daily ATR | Credit: TradingView

Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels. On July 12, 2024, SUI’s daily ATR was 0.06, a sign of low volatility. The indicator has fallen since March. As a proportion of the 0.73 SUI price, the ATR is 0.08.

SUI Relative Strength Index (RSI): Is SUI Oversold or Undersold?

The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold. Movements above 70 and below 30 show over and undervaluation, respectively. Movements above and below the 50 line also indicate if the trend is bullish or bearish.

SUI Weekly RSI
SUI Weekly RSI | Credit/TradingView

On July 12, 2024, the SUI weekly RSI was at 44, a sign of a bearish trend. However, it is worth mentioning that the RSI has increased since the start of July.

SUI Market Cap to TVL Ratio

The Total Value Locked (TVL) to market cap ratio (TVL ratio) measures the valuation of a decentralized finance (DeFi) project by comparing its market capitalization to the total value of assets locked in its smart contracts. This ratio shows the project’s utilization and links the platform’s health to the value of locked assets.

SUI Market Cap to TVL
SUI Market Cap to TVL | Credit: DeFiLlama

A ratio above 1.0 indicates overvaluation because the market cap exceeds the value of assets used in the platform. A ratio below 1.0 indicates undervaluation because the market cap is lower than the value of locked assets. On July 12, 2024, the SUI market cap to TVL ratio was 2.38, a sign of overvaluation.

SUI Price Performance Comparisons

SUI is a blockchain that deals with smart contracts, so let’s compare it with other similar projects.

Current Price One Year Ago Price Change
Sui $0.74 $0.69 10.1%
Solana $137.68 $25.99 514.1%
Ethereum $3,102 $2,003 64.1%
Avalanche $25.42 $14.62 91.4%

Best Days and Months to Buy SUI?

We took a look at the SUI price history and found the times when the price was at its lowest across certain days, months, quarters, and even weeks in the year, indicating the best times to buy SUI.

Times to Buy SUI Days, Months, and Quarters
Best Day of the Week Monday
Best Month January
Best Week 2
Best Quarter First

SUI Price History

Let’s take a closer look at the SUI price history. While past performance isn’t necessarily indicative of future results, understanding what SUI has done can help us contextualize future predictions.

2023: When SUI first hit the open market on May 3, 2023, it was worth $1.71. This price still serves as an all-time high for the token. After that, it slipped down gradually, dropping below $1 on May 24. SUI has not been worth more than $1 since May 31. The crypto market shrinking following the news that the SEC was suing the two largest crypto exchanges affected SUI as well. Although SUI was not listed as one of the authority’s targets, it reached $0.55 on June 10. After that, it tried to fight back, reaching $0.8816 on June 22, but dropped again to a low of $0.462 on August 17. The crypto rallied in the second half of the year, peaking at $0.9156 on December 27 and closing the year at $0.7784.

2024: On January 11, 2024, SUI broke past $1, and by February 2, it was worth about $1.50. SUI rallied the following month, reaching an all-time high of $2.18 on March 27 and trading at $2 on March 28.


Period SUI Price
Today (July 12, 2024) $0.74
Last Week (July 5, 2024) $0.64
Last Month (June 12, 2024) $1.02
Three Months Ago (April 12, 2024) $1.23
Last Year (July 12, 2023) $0.65
Launch Price (May 3, 2023) $1.40
All-Time High (March 27, 2024) $2.17
All-Time Low (October 19, 2023) $0.36

Who owns the most SUI?

On July 12, 2024, the five wallets with the most SUI  were

  • 0xb78607e24778265e02e584a5a46f7e020fe503c8511ace3aa7485142d65c8e2a. This wallet held 535,714,994 SUI or 5.36% of the supply.
  • 0x6c6dbe9b3a93a3de77f44b5d9098cf082e951a0d07980be5b891e8f3a4c3bff4. This wallet held 181,817,828 SUI or 1.82% of the supply.
  • 0xab73ad38c63f83eda02182422b545395be1d3caeb54b5869159a9f70b678cd56. This wallet, listed as OKX 1, held 163,866,779 SUI, or 1.64% of the supply.
  • 0x15610fa7ee546b96cb580be4060fae1c4bb15eca87f9a0aa931512bad445fc76. This wallet held 128,059,472 SUI or 1.28% of the supply.
  • 0xf3bfda04092a842d4c57c61f9d8fb99058792ab2622b2a0c0d83a6ea41de325f. This wallet held 113,000,004  SUI or 1.13% of the supply.

Sui Supply and Distribution

Supply and distribution Figures
Maximum Supply 10,000,000,000
Circulating Supply as of July 12 2,512,916,718 (25.1% of maximum supply)
Holder Distribution as of July 12 Top 10 holders own 13.55% of maximum supply

From the Sui Whitepaper

In its technical documentation or whitepaper , SUI says that it is named after the Japanese water element. 

It says: “The power of the sui element lies in its fluidity—its ability to easily adapt to and transform any environment. Similarly, the Sui platform seeks to provide a flexible network that you can leverage to shape the web3 landscape.

“The Sui platform is built on Sui Move, which is derived from the core Move programming language.”

Sui Explained

Mysten Labs founded the Sui platform in 2023. Mysten Labs itself was founded by former Meta developers Evan Cheng, Adeniyi Abiodun, Kostas Chalkias, George Danezis, and Sam Blackshear.

While BTC dominates the market and Ethereum’s system has helped pioneer further applications, with its use of smart contracts, computer programs that automatically execute once certain conditions are met, helping to support decentralized applications (DApps) and the wider world of decentralized finance (DeFi).

One issue people have struggled with when it comes to using Ethereum is its notorious lack of speed. While this was, in part, addressed by the blockchain’s move from a Proof-of-Work (PoW) consensus mechanism to a Proof-of-Stake (PoS) one in September 2022, there is still the desire, in some quarters, to see a quicker, more efficient and cheaper blockchain. 

Sui  is one such attempt to improve on Ethereum. The platform, which was officially launched in 2023 by former Meta developers ’s Mysten Labs, is supported by its eponymous token. 

How Sui Works

Sui uses a variety of features to serve as a fast blockchain that can handle extra traffic. For instance, it uses what it calls horizontal scaling to allow transactions to take place at the same time. It also features the ability to store assets directly on the blockchain, which means that transactions are, at least in theory, cheaper. 

SUI supports the Sui blockchain. It pays for storage space on the platform and also covers transactions on the network. Holders can set it aside, or stake it,   in return for rewards. People can buy, sell, and trade SUI on exchanges. 

Is SUI a Good Investment?

It is hard to tell right now. While SUI has cemented itself in the top 100 cryptos, but we don’t know if, and how, it will maintain the interest it has generated so far. Keep in mind that there are plenty of so-called Ethereum Killers, which offer quicker speeds and cheaper transactions than Vitalik Buterin’s brainchild, but none of them have yet toppled ETH as the number one altcoin.

Nevertheless, there is some potential for SUI to do well. It will need to stay out of the crosshairs of regulators and hope the market can support its aims of growth. Its recent performance and metrics have been encouraging.

No matter what, if you want to invest in SUI, you will need to do your research. 

Will SUI go up or down?

No one can say for sure right now. Although many of the SUI crypto price predictions are optimistic, remember that price forecasts are very often wrong. Also, it is important to remember that prices can, and do, go down as well as up.

Should I invest in SUI?

Before you decide whether or not to invest in SUI, you will need to do your research, not only on SUI but also on other, similar coins and tokens, such as Solana (SOL) and Cardano (ADA). More importantly, though, you will need to remember to never invest more money than you can afford to lose. 


How many SUI are there?

On Jul 12, 2024, there were about 2.51 billion SUI in circulation, out of a total supply of 10 billion.

Will SUI reach $10?

Our wave count price prediction suggests that SUI will increase above $10 in 2025.

What is SUI used for?

SUI pays for transactions on the SUI blockchain. Holders can stake it in return for rewards. People can buy, sell, and trade it on exchanges.


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 user should research multiple viewpoints and be familiar with all local regulations before committing to an investment.