$SUI What’s Driving SUI Higher?

SUI’s recent rise can be attributed to a few key factors:

1.TVL Growth:

SUI’s Total Value Locked (TVL) has surged by 67% over the last 30 days, crossing the $1 billion mark and surpassing Avalanche (AVAX) in rankings. This rapid increase in TVL reflects growing confidence in the SUI ecosystem, particularly as its decentralized finance (DeFi) offerings expand.

2.SUI-Based Memecoins:

The rise of SUI-based memecoins is another contributor to SUI’s rally. Data from CoinGecko shows that the total market cap of these memecoins has jumped by 13% in the past 24 hours, reaching $324 million.

3.Record Daily Transactions:

SUI has also seen an explosion in daily transactions, which have skyrocketed to over $100 million in the last three days. This surge in activity points to increased adoption and usage of the SUI network

Can SUI Hit $10?

While no one can predict the future with certainty, the combination of strong technical patterns like the cup and handle, impressive TVL growth, and surging transaction volume makes a strong case for continued upward momentum. If the market conditions remain favorable and SUI breaks through the $2 resistance, a run toward the $10 target outlined by analysts seems within reach.

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