Sui Price Prediction 2025: SUI Hits New All-time High, What Next?
What's next for SUI?
Key Takeaways
- The Sui blockchain and its native SUI are relative newcomers to the crypto market, having come out in 2023.
- SUI is already one of the top 100 cryptos by market cap and reached an all-time high of $2.36 on Oct. 14.
- Our price predictions suggest that SUI can reach yet another 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 a high of $2.18 on March 27.
Although it suffered a downturn, Sui rallied in the autumn of 2024 and reached a new all-time high of $2.36 on Oct. 14.
Let’s now take a look at our own price predictions for SUI, made on Oct. 14, 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 on Oct. 14, 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 | $2.24 | $2.80 | $3.36 |
| 2025 | $2.80 | $3.50 | $4.20 |
| 2030 | $1.44 | $1.80 | $2.16 |
Two methods were used to create our SUI price predictions. 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 that SUI has completed a five-wave upward movement and A-B-C correction that ended in July. This was likely part of waves one and two in a long-term five-wave upward movement.
Using the 1.61 length of wave one leads to a target of $4.21 for the top of wave three, and then the $12.80 final target is created by giving waves one and five the same length.
Our projections suggest the entire upward movement will be twice the length of the current one.
The wave count price prediction gives SUI targets of $2.80 and $3.50 at the end of 2024 and 2025, respectively. The price could reach a new all-time high of $12.80 in May 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 predicts the SUI price range between $2.24 and $3.36 by 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, the SUI price prediction range is between $1.44 and $2.16.
SUI Price Analysis
According to the wave count from the daily time frame, SUI is due for a correction soon.
The most likely count suggests that SUI is in the fifth and final wave of its upward movement that started on Aug. 5.
The entire structure could be over if wave five had the same length as wave one. However, if it has the same length as wave three, the SUI price can reach a high of $2.74 before beginning its correction.
Short-Term SUI Price Prediction
The SUI price prediction for the next 24 hours suggests a short-term decline toward $1.80 could follow before the price possibly resumes its upward trend.
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.
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 Oct. 14, SUI’s ATR was 0.0839, a sign of low volatility.
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.
On Oct. 14, 2024, the SUI RSI was at 61. suggesting bullish conditions.
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 locked asset value.
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 Oct. 14, 2024, the SUI market cap to TVL ratio was 5.45, a sign of overvaluation.
SUI Price Performance Comparisons
SUI is a blockchain that deals with smart contracts, so let’s compare it with similar projects.
Best Days and Months to Buy SUI
We examined the SUI price history and found the lowest prices on 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.
| Period | SUI Price |
|---|---|
| Last Week (Oct. 7, 2024) | $2.15 |
| Last Month (Sept. 14, 2024) | $1.06 |
| Three Months Ago (July 14, 2024) | $0.8189 |
| Last Year (Sept. 9, 2023) | $0.4191 |
| Launch Price (May 4, 2023) | $1.40 |
| All-Time High (Oct. 14, 2024) | $2.34 |
| All-Time Low (October 19, 2023) | $0.3643 |
Sui Market Cap
The Sui market capitalization, or market cap, is the sum of the total number of SUI in circulation multiplied by its price. On Oct. 14, 2024, Sui’s market cap was $6.2 billion, making it the 17th-largest crypto by that metric.
Who Owns the Most SUI?
As of Oct. 14 2024, one wallet held more than 5% of the supply of SUI.
Richest SUI Wallet Addresses
On Oct. 14, 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 Oct. 14, 2024 | 2,763,841,372 (27.6% of maximum supply) |
| Holder Distribution | Top 10 holders owned 13.55% of the maximum supply as of Oct. 14, 2024 |
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 adapt to and transform any environment easily. 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, Ethereum’s system has helped pioneer further applications. It uses smart contracts and computer programs that automatically execute once certain conditions are met to support decentralized applications (DApps) and the wider world of decentralized finance (DeFi).
One issue people have struggled with when 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, some quarters still desire to see a quicker, more efficient, and cheaper blockchain.
Sui is one such attempt to improve on Ethereum. The platform, which launched in 2023, is supported by its eponymous token.
How Sui Works
Sui uses various 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 occur simultaneously. It also features the ability to store assets directly on the blockchain, meaning that transactions are cheaper, at least theoretically.
SUI supports the Sui blockchain. It pays for storage space on the platform and covers network transactions. 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, 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, SUI has some potential to do well, with it trading at an all-time high in October 2024. It will need to stay out of the crosshairs of regulators and hope the market can support its growth aims. 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 and 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 never to invest more money than you can afford to lose.
FAQs
Will SUI reach $10?
Our wave count price prediction suggests that SUI not break above $10 for at least another six years.
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.
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 user should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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