The Sui Network (SUI) is gearing up for a significant event on January 1, 2025, with nearly $300 million worth of its native token set to be unlocked. This is part of Sui’s monthly process, which increases the circulating supply and impacts investor holdings.
Despite a recent 5.31% dip over the past week, SUI has been a standout performer, surging by 31.25% in the last month and hitting an ATH of $4.93 after trading below $1. Now, at $4.26, it boasts a one-year gain of 413%, far outpacing XRP’s 250% gain. Analysts see a rise of $5 in the coming months with a scope to rise higher than expected.
So is SUI a better option for profit-takers? Let’s see its growth potential.
Raoul Pal’s Bullish Take on SUI
Raoul Pal, CEO of Real Vision, is bullish about SUI’s future, suggesting it could outperform major players like XRP and Solana (SOL) during this bull run. Pal highlights SUI’s breakout from an inverse head-and-shoulders pattern as a signal of its potential upside. With Pal’s insight the coin has the potential to break out in 2025 and many analysts even target above $5 for SUI by Q1 of 2025.
While acknowledging Solana’s strength as a proven protocol, Pal sees SUI as a riskier but more rewarding investment. He also believes SUI’s upward trend could outpace XRP, Solana, and ETH even as XRP shows signs of a potentially explosive move after breaking its seven-year downtrend. Pal advises being wise in diverting the portfolio with an aim of targeting established coins and giving a small portion to these quick profit-giving assets to sail safely in this bear market.
Technically, Good Time to Invest in SUI?
SUI’s Total Value Locked (TVL) recently crossed $1.65 billion, a milestone that has fueled its price momentum. This growth is linked to its expanding network and bullish chart patterns, including a breakout from a head-and-shoulders formation. However, indicators like the MACD histogram turning negative suggest caution, while the RSI remains neutral.
SUI is giving tough competition to XRP is quite surprising for crypto investors who are looking for a new investment opportunity. Since the coin is down at this moment it is a good time to stack the coin before the price rises.
