SUI token surges 25% in a week, driven by stablecoin inflows and a bullish outlook, with predictions for significant gains - IcoHolder.

SUI, a blockchain project that has recently been gaining attention as a rival to Solana, is experiencing a significant resurgence. After a sluggish start to the year, the token has made an impressive recovery, with its price jumping nearly 25% in just a week, climbing from $1.86 to around $2.32. This sudden rise in price is part of a broader trend indicating a potential breakout for the SUI token in the coming months.

One of the key factors contributing to this growth is the influx of stablecoins into the SUI network. In just 24 hours, the blockchain saw a record $60 million worth of stablecoin inflows. This surge places SUI among the top networks for stablecoin activity, even surpassing larger competitors like Ethereum and Solana. The strong demand for stablecoin transactions has sparked speculation that the network is gaining increasing traction among investors.

After a rough start to the year, where SUI's price dropped by nearly 60%, the token began showing signs of a recovery in March and April. The recent influx of stablecoins into the network marks a notable shift in sentiment towards the asset.

Analysts are now watching closely for signs of further price movement. Crypto expert Raoul Pal has expressed a highly optimistic outlook for SUI, noting that its price chart suggests the token is on the verge of breaking out of a downward trend. A popular trading pattern known as a “falling wedge” has also been identified, signaling the potential for a price surge. If this pattern holds, traders predict SUI could see its price climb to around $4.80.

The most audacious prediction for SUI’s future comes from VanEck, a leading investment firm managing over $116 billion in assets. The firm forecasts that SUI could see a more than 350% rise, potentially reaching $10 by the end of 2025. This bullish outlook is further supported by the recent filing of the first-ever SUI token ETF by Canary Capital Funds, a move that could attract institutional investors and provide the asset with long-term growth potential.

Currently, SUI is trading at $2.32, showing a modest increase of 1.5% in the past 24 hours, with a market capitalization of $7.5 billion. The technical indicators suggest continued bullish momentum, with the relative strength index (RSI) rising from 48 to 68, indicating renewed buying interest. Additionally, the moving average convergence divergence (MACD) has turned bullish, reinforcing the idea that the token’s price may continue its upward trajectory.

With strong signs of growing investor confidence and technical analysis supporting the rally, the SUI token is poised for potentially significant gains in the near future.