$WAL The first time was a test; this time it means business.
$WAL When I wrote about it yesterday afternoon, it was still around $0.0495. Back then, $0.055 was the first hurdle it needed to clear—but after a couple of tries, it couldn't break through, and it fell back to $0.051 that evening.
But tonight (before 1 a.m. on 10-15, Beijing time), it's back—and it's come back faster: in two hours, it surged straight from $0.051 to $0.0618, setting a new 24-hour high. Its 24-hour gain has widened to nearly 58%, with $217 million in 24-hour trading volume. The previous hourly candle alone rose by more than 8%. For comparison, $BTC is still hovering around $81,977 tonight—it’s moving entirely on its own.
The biggest difference this time is that the first rise was driven by news, and people chased it at the highs; this time, it has already pulled back to $0.051, shaken out traders, and changed hands before climbing again. There hasn't actually been any new news over the past couple of days. It's still the old story from 10-12 about the Sui Foundation investing in DATA Network and Walrus becoming its default storage layer. In effect, the market is using price action to "reprice" the same positive news for a second time.
It's also worth stating the risks upfront: there’s no fresh catalyst to follow up on the old news, so the rally could run out of steam quickly. And since this move happened in the early hours, it's hard to say whether it can hold during the day. Chasing too aggressively at this level isn't advisable, but there's no need to rush for the exit as long as the structure remains intact.
Keep an eye on $0.051: if it holds, the next stop is above $0.07; if it falls back below $0.051 on heavy volume, treat this acceleration as if it never happened.
$WAL When I wrote about it yesterday afternoon, it was still around $0.0495. Back then, $0.055 was the first hurdle it needed to clear—but after a couple of tries, it couldn't break through, and it fell back to $0.051 that evening.
But tonight (before 1 a.m. on 10-15, Beijing time), it's back—and it's come back faster: in two hours, it surged straight from $0.051 to $0.0618, setting a new 24-hour high. Its 24-hour gain has widened to nearly 58%, with $217 million in 24-hour trading volume. The previous hourly candle alone rose by more than 8%. For comparison, $BTC is still hovering around $81,977 tonight—it’s moving entirely on its own.
The biggest difference this time is that the first rise was driven by news, and people chased it at the highs; this time, it has already pulled back to $0.051, shaken out traders, and changed hands before climbing again. There hasn't actually been any new news over the past couple of days. It's still the old story from 10-12 about the Sui Foundation investing in DATA Network and Walrus becoming its default storage layer. In effect, the market is using price action to "reprice" the same positive news for a second time.
It's also worth stating the risks upfront: there’s no fresh catalyst to follow up on the old news, so the rally could run out of steam quickly. And since this move happened in the early hours, it's hard to say whether it can hold during the day. Chasing too aggressively at this level isn't advisable, but there's no need to rush for the exit as long as the structure remains intact.
Keep an eye on $0.051: if it holds, the next stop is above $0.07; if it falls back below $0.051 on heavy volume, treat this acceleration as if it never happened.