Sui (SUI) experienced a 20% price surge on Tuesday, reaching around $2.70 amid positive trade war headlines
SUI broke a key resistance level and downtrend dating back to early 2025, moving above its 21 and 50-day moving averages
Memecoin activity on the Sui network has contributed to price momentum, with SUI rising 11.86% on April 22
Network metrics show growth with monthly DEX volume reaching 3.2 billion SUI in March and TVL hitting a multi-month high of 2.5 billion SUI
Stablecoin supply on the SUI network reached an all-time high of $880 million on April 21
Sui (SUI) has seen a remarkable price surge in recent days, jumping approximately 20% on Tuesday to trade around $2.70. This price movement comes as US President Donald Trump appeared to signal a more lenient approach to the ongoing trade war with China, triggering a broader rally across risk assets.
The price increase represents a major bullish breakout for SUI, which has snapped a downtrend that began at the start of 2025. In a key technical development, the token has broken above its 21-day and 50-day moving averages for the first time since early 2025.
This breakout opens the door for potential further gains in the near term. Market observers suggest the next target for bulls could be the 200-day moving average, currently positioned just above $3.00.
The price surge isn’t happening in isolation. On April 22, SUI rose by 11.86% to reach $2.43, continuing its upward momentum.
A significant driver behind SUI’s recent price action has been the growing memecoin activity on the Sui network. Several SUI-based memecoins have seen explosive growth, with tokens like LOFI gaining 143% and BLUB rising 57% over a seven-day period.
This memecoin craze has helped boost key network metrics. Monthly decentralized exchange (DEX) volume reached 3.2 billion SUI in March, up from 3 billion in February. This indicates increasing trading activity within the Sui ecosystem.
Total value locked (TVL) in the network has also been climbing steadily since December, reaching a multi-month high of 2.5 billion SUI. This growth in SUI-denominated metrics is particularly noteworthy given that it has occurred despite SUI’s price dropping 54% from its January peak.
Robust Ecosystem Development
The Sui blockchain has been making strides in terms of adoption and ecosystem growth. By late 2024, the network boasted over 25 million active accounts and $1.36 billion in TVL, demonstrating substantial on-chain activity.
Projects within the Sui ecosystem are showing signs of traction. Cetus, a leading decentralized exchange, has accumulated $105 million in TVL. NAVI Protocol, a lending platform on Sui, has surpassed $135 million in TVL.
The stablecoin market on Sui is approaching a significant milestone. Total stablecoin supply on the network reached an all-time high of $880 million on April 21 and appears poised to break the $1 billion mark soon.
Sui’s technological infrastructure continues to develop, leveraging the Move programming language and parallel transaction processing to ensure scalability and speed that rivals other major blockchains like Solana and Ethereum.
Innovations such as the SuiPlay0X1 gaming console and USDC integration further strengthen Sui’s position in the blockchain space.
Sui is the best network on which to build games.
SuiPlay0X1 is the best device on which to play them.
While the current price breakout has generated excitement, market analysts caution against expectations of an immediate “altcoin season.” Macro risks remain elevated, with recession concerns and potential inflation pressures still looming over the broader economy.
The Federal Reserve, under Chairman Jerome Powell, may be reluctant to implement aggressive easing measures should economic conditions deteriorate. This could limit the sustainability of altcoin rallies in the near term.
Some market watchers note that past altcoin bull runs have been fueled by massive liquidity injections from central banks. While global M2 money supply is rising as central banks around the world ease monetary policy, the Federal Reserve has yet to follow suit.
Despite these cautions, the Trump administration’s pro-crypto stance may create a favorable environment for blockchain projects like Sui over the longer term. Some optimistic projections suggest Sui could potentially reach $10 or even $20 per token by the end of Trump’s presidential term.
For now, the technical outlook for SUI remains strong, with the potential for a test of the 200-day moving average and possibly a move toward the record highs above $5.00 seen in early 2025. This would represent a nearly 2x gain from current levels.
The combination of positive technical signals, growing network activity, and a supportive macro backdrop has created momentum for SUI that could drive further price appreciation in the days and weeks ahead.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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