$SUI Analysis: Can SUI Reach $2 in This Bull Run? - CoinPedia Analytics

The SUI project, a revolutionary Layer-1 (L1) token, is gaining major attention in the crypto space. Offering a scalable solution and prioritizing user experience with features like ZkLog in, SUI is making waves in the Web3 ecosystem. Over the past month, SUI's price surged by 75.36%, and in the last week alone, it jumped 42.71%.

With a circulating supply of 2.67 billion SUI tokens and a market cap of $4.586 billion, SUI has secured the 21st spot in the crypto rankings. Analysts predict that the token could push toward a high of $2.1850 if bullish sentiment continues. However, if bears dominate, SUI might retest a crucial support level at $1.2980.

The growing buying signals suggest SUI could reach $2 by the end of the year. On the downside, a bearish trend could pull the price down to $0.50 in 2024, with the average price settling around $1.25.