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<img width="1815" height="953" src="https://coingape.com/wp-content/uploads/2024/01/SUIUSD-1.png" class="attachment-full size-full wp-post-image" alt="SUI" decoding="async" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2024/01/SUIUSD-1.png 1815w, https://coingape.com/wp-content/uploads/2024/01/SUIUSD-1-300x158.png 300w, https://coingape.com/wp-content/uploads/2024/01/SUIUSD-1-1224x643.png 1224w, https://coingape.com/wp-content/uploads/2024/01/SUIUSD-1-768x403.png 768w, https://coingape.com/wp-content/uploads/2024/01/SUIUSD-1-1536x807.png 1536w, https://coingape.com/wp-content/uploads/2024/01/SUIUSD-1-150x79.png 150w" sizes="(max-width: 1815px) 100vw, 1815px">
Sui, the proprietary token of the Sui blockchain, has recently witnessed a remarkable growth spurt. Over just four days, SUI’s value escalated from $0.79 to $1.33, representing a 50% increase. The momentum continued as the token experienced a 21% jump in the past 24 hours alone. 
<figure id="attachment_173889" aria-describedby="caption-attachment-173889" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-large wp-image-173889" src="https://coingape.com/wp-content/uploads/2024/01/SUIUSD-1224x643.png" alt="SUI" width="1224" height="643" srcset="https://coingape.com/wp-content/uploads/2024/01/SUIUSD-1224x643.png 1224w, https://coingape.com/wp-content/uploads/2024/01/SUIUSD-300x158.png 300w, https://coingape.com/wp-content/uploads/2024/01/SUIUSD-768x403.png 768w, https://coingape.com/wp-content/uploads/2024/01/SUIUSD-1536x807.png 1536w, https://coingape.com/wp-content/uploads/2024/01/SUIUSD-150x79.png 150w, https://coingape.com/wp-content/uploads/2024/01/SUIUSD.png 1815w" sizes="(max-width: 1224px) 100vw, 1224px">
 <figcaption id="caption-attachment-173889" class="wp-caption-text">
 Source: <a rel="nofollow" href="https://www.tradingview.com/x/lFkD1PoZ/">Tradingview</a>
 </figcaption>
</figure> 
This surge in Sui’s value is mirrored by a significant rise in its trading volume. This trend suggests that major investors are injecting capital, anticipating further growth. The token’s breakthrough past the $1 mark, backed by substantial trade volumes, enhances its breakout’s credibility and suggests a potential stabilization at these elevated prices. 
<h2 id="strong-sui-s-remarkable-market-performance-strong">Sui’s Remarkable Market Performance</h2> 
<a href="https://coingape.com/crypto-prices-today-bitcoin-stays-strong-above-46k-pepe-price-crashes-sui-soars-18/">Sui</a> has recently emerged from a period of limited price fluctuation, trading between $0.6876 and $0.9250. This phase ended when buyers stepped in vigorously, pushing the price past the upper limit of this range. Currently, the $0.9250 mark has established itself as a solid support base. As of this writing, <a href="https://coingape.com/price/sui-coin/">Sui price</a> is at $1.33, with a growing bullish sentiment evident on the daily charts. 
SUI’s price trajectory is primed for a rally, possibly reaching the $2 mark soon. Maintaining current momentum could break the $5 resistance level. Price stability above the 50-day EMA signals ongoing buyer interest, hinting at more gains. Any downward movement will likely find strong support at the EMA, sustaining the bullish trend. 
<h2 id="span-style-font-weight-400-tvl-growth-and-technical-indicators-fuels-optimism-span">TVL Growth&nbsp; and Technical Indicators Fuels Optimism</h2> 
Sui, a smart contract platform space contender, is experiencing a meteoric rise. The platform’s Total Value Locked (TVL) has reached unprecedented levels. In a recent update, the Sui Network, a layer-1 blockchain, announced a 500% increase in TVL over the past three months. This surge is even more impressive over six months, with a 1350% increase. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Today, Sui's TVL blew past $250,000,000, and currently sits at $263M! 
 Last week, Sui TVL hit $225M. That's: +85% in 1 month +500% in 3 months +1350% in 6 months 
 DeFi on Sui <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4aa.png" alt="💪" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/n5mKc3fiHL">pic.twitter.com/n5mKc3fiHL</a> 
 — Sui (@SuiNetwork) <a href="https://twitter.com/SuiNetwork/status/1745535988573872294?ref_src=twsrc%5Etfw">January 11, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Current figures from the market analysis tool Defi Llama show <a rel="nofollow" href="https://defillama.com/chain/Sui">Sui’s </a>TVL at an impressive $297.9 million. This significant growth in TVL has positively influenced Sui’s market value. The price of SUI has ascended above $1, indicating a bullish trend in the foreseeable future. This development marks a significant milestone for Sui, positioning it as a strong competitor in the blockchain sector. 
<figure id="attachment_173888" aria-describedby="caption-attachment-173888" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-173888" src="https://coingape.com/wp-content/uploads/2024/01/SUIUSD_2024-01-13_13-49-33.png" alt="Sui" width="1154" height="652" srcset="https://coingape.com/wp-content/uploads/2024/01/SUIUSD_2024-01-13_13-49-33.png 1154w, https://coingape.com/wp-content/uploads/2024/01/SUIUSD_2024-01-13_13-49-33-300x169.png 300w, https://coingape.com/wp-content/uploads/2024/01/SUIUSD_2024-01-13_13-49-33-768x434.png 768w, https://coingape.com/wp-content/uploads/2024/01/SUIUSD_2024-01-13_13-49-33-150x85.png 150w" sizes="(max-width: 1154px) 100vw, 1154px">
 <figcaption id="caption-attachment-173888" class="wp-caption-text">
 SUI/USD daily price chart, Source: <a rel="nofollow" href="https://www.tradingview.com/x/7zvVhMuJ/">Tradingview</a>
 </figcaption>
</figure> 
Sui’s market indicators are showing encouraging signs for its future. The Moving Average Convergence Divergence (MACD) has undergone a notable positive crossover. Additionally, a green bar on the histogram suggests a continuing bullish trend. The Relative Strength Index (RSI) touching 70 there’s an indication of the asset being overbought. The Chaikin Money Flow (CMF) stands at 0.29, highlighting strong buying activity in the market. 
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The post <a href="https://coingape.com/markets/sui-price-prediction-rapid-tvl-rise-supercharge-sui-to-5/">Sui Price Prediction: How Rapid TVL Rise Could Supercharge SUI To $5</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Sui Price Prediction: How Rapid TVL Rise Could Supercharge SUI To $5

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