{"id":430930,"date":"2023-08-18T10:53:22","date_gmt":"2023-08-18T10:53:22","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=430930"},"modified":"2023-08-18T10:53:44","modified_gmt":"2023-08-18T10:53:44","slug":"sui-price-prediction-sui-dips-10-is-this-a-buying-opportunity","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/sui-price-prediction-sui-dips-10-is-this-a-buying-opportunity","title":{"rendered":"Sui Price Prediction: SUI Dips 10% \u2013 Is This a Buying Opportunity?"},"content":{"rendered":"

Web 3 token SUI has dropped by 10% in the last 24 hours, resulting from a steep decline at 5:35 pm EST. This crypto now sits around the $0.47 mark.<\/p>\n\n\n\n

Is this a buying opportunity, or is another downturn on the way?<\/p>\n\n\n\n

SUI goes through a monthly decline of 34%<\/h2>\n\n\n\n

SUI’s current drop continues the bearish turn of events it has been dealing with since the last month. Since July 20, the token has gone on a period of consolidation followed by steep drops.<\/p>\n\n\n

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\"SUI<\/figure><\/div>\n\n\n

The current 24-hour drop, however, is the biggest one yet. Coinmarketcap<\/a> shows that at 4:19 am EST, SUI was valued at $0.47. The recent 10% drop is accompanied by a 10% decline in the token’s market capitalization and a 48% increase in the trading volume.<\/p>\n\n\n\n

The uptick in the trading volume indicates a selling frenzy. What happened to this crypto that people lost faith in it?<\/p>\n\n\n\n

What is Behind SUI’s Downtrend?<\/h2>\n\n\n\n

SUI has not been making many waves on social media. One of its latest tweets is about it explaining the Deep book.<\/p>\n\n\n\n

Deep book is Sui’s native central limit order book, which, according to devs, allows for lower gas fees even when an asset’s volume is increasing. This tool lets investors take more help to the market.<\/p>\n\n\n\n

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DeepBook, Sui's native Central Limit Order Book, takes advantage of low gas fees even as trading volume increases, letting users take more of their assets to market.

Read more about DeepBook's economics:https:\/\/t.co\/L0WDW6oSvo<\/a><\/p>— Sui (@SuiNetwork) August 17, 2023<\/a><\/blockquote>