Sui Price Prediction: SUI Leaps by 11%

Sui Price Prediction: SUI Leaps by 11% – Is It Time to Dive In?

Updated: 24 August 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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Investors in the SUI token can now see a ray of optimism as the token’s price has climbed 11% over the past week.

This marks a significant departure from the prolonged bearish trend since the token’s initial launch.

SUI is trading at $0.59 as of 12:23 a.m. EST, showcasing a 4.9% surge over the last 24 hours. This upward momentum is further supported by its daily trading volume, which has risen 7.3% to $210 million.

SUI Price Could Break Above Falling Wedge

SUI/USD Chart Analysis. Source: Tradingview.com — SUIUSD Chart Analysis. Source: Tradingview.com

Since its launch in June 2023, the trajectory of the SUI token has been downward.

Despite the bulls’ persistent efforts to generate positive market sentiment, their endeavors have been met with formidable resistance from the bears.

This tug-of-war has resulted in a consistent decline in the token’s value, with its trading pattern resembling a falling wedge.

At the time of writing, the bulls have established a foothold at the $0.44 mark, situated on the lower boundary of the descending wedge.

This development has contributed to the recent price upswing. Should the bullish momentum be sustained, there’s a potential for the price to break out above the confines of the falling wedge, signifying the validation of a bullish rally.

The relative strength index (RSI) affirms the upward movement in SUI’s price, as it reflects a recovery and currently stands at 53, denoting a neutral position.

If the upward trend persists, the RSI could breach the 70 mark, entering overbought territory.

Furthermore, the 50-day simple moving average is currently a price resistance. Successfully surpassing this barrier would confirm a bullish trend, potentially promoting positive momentum.

Considering SUI’s market price, an evident bullish inclination is supported by both the bullish falling wedge pattern and the RSI trends.

Breaking above the wedge pattern might propel the price to $1.03, marking a substantial 49% surge.

Conversely, the 50-day SMA might trigger a brief pullback to $0.53. This retracement, however, could empower the bulls to drive the price upward once again.

The presale funding phase of Wall Street Memes is nearing its conclusion. Potential last-minute investors can now participate in the presale, securing their spots before the price hike that typically accompanies listing on exchanges.

Wall Street Memes (WSM) – Last Call to Buy

Wall St. Bulls, a prominent NFT collection in the Ethereum ecosystem, recently introduced their cryptocurrency, the Wall Street Memes (WSM) coin, gaining significant recognition.

They swiftly sold out their NFT collection in just half an hour in 2021 and have since stayed attuned to prevailing crypto trends.

Billionaire Chamath to all the hard working people who lost 90% of their life savings on his SPACs pic.twitter.com/CjuTPm2Akw

— Wall Street Memes (@wallstmemes) August 23, 2023

Their initiatives included launching Bitcoin Ordinals NFTs and working on their meme coin – Wall Street Memes. This coin has stood out as a high performer in cryptocurrency.

Presales come with heightened risks but also noteworthy potential for substantial rewards.

Platforms supported by a robust community usually demonstrate enduring resilience. Wall Street Memes has a solid community base with a million followers across various social media platforms, solidifying its name recognition within the industry.

WSM Multiple Tier 1 Exchange Listings, 50K Airdrop

As the presale phase of the Wall Street Memes (WSM) token draws to a close, the token is poised to be listed on several top-tier crypto exchanges in September (34 days to go).

This strategic move positions the project for significant growth within the crypto landscape.

It aptly demonstrates community enthusiasm and innovation while adeptly navigating the challenges inherent in the market.

Once you see it you can't unsee it pic.twitter.com/59grS4kIUH

— Wall Street Memes (@wallstmemes) August 23, 2023

The total token supply cap for $WSM is 2 billion tokens. All of these tokens are reserved for the community, with the presale being allocated 50%, community rewards receiving 30%, and liquidity on exchanges securing 20%.

Importantly, no tokens have been set aside for the project team, ensuring that the project remains driven by the community and eliminating the risk of a ‘rug pull.’

To mark the launch of the WSM presale, the team is coordinating a $50,000 airdrop. This airdrop will be available to holders who actively engage with the project’s social media channels, which include platforms such as Discord.

Wall Street Memes Presale Selling Out Fast, Last Chance to Buy in

The project has raised over $25 million in investments in the twelve weeks since its inception. This keen investor interest underscores its prominence.

Existing $WSM token holders can participate in the airdrop by following the steps outlined on the Wall Street Memes page.

During this concluding stage, the token’s price is $0.0337. The momentum becomes palpable as the presale progresses toward its ambitious allocation goal of $30 million.

Acquiring WSM tokens is a seamless process on both the Ethereum blockchain and the BNB Smart Chain.

You can obtain these tokens by connecting your wallets to the WSM website. Once connected, you can exchange your ETH, BNB, or USDT (ERC-20 or BEP-20) for $WSM.