SUI surged 90% in November: Can it continue to be popular?
SUI surged in November, with great popularity, ecology, and market!
SUI surged 90% this month and became popular in the cryptocurrency circle!
Many activities and heated discussions may be the reasons for its surge.
November is a victory month for SUI, which has become a "hot item" in cryptocurrency.
Investors are confident, the ecology is developing, and market conditions are good. The price of SUI has been rising rapidly, and it has risen by more than 90% in November.
But how did this surge come about?
Why did SUI surge so sharply?
Retail investors and institutions are buying SUI, so the price naturally goes up.
The improvement of the ecosystem, the high market sentiment, and the fact that institutions may also be quietly stockpiling goods are all reasons for the price increase of SUI.
Recently, SUI has held activities with many partners, and dApp has also been connected, and everyone has begun to pay attention to its ecology.
The large number of large transactions indicates that there are big investors buying SUI and they have confidence in it. Retail investors are also hyping it up on social media, which makes the demand even higher.
However, such a sharp rise also has risks. Technical indicators such as the relative strength index (RSI) show overbought.
People in the market are watching the key resistance level to see if anyone will sell. Although there are risks, the rise of SUI is indeed eye-catching, and we have to pay attention to it in the next few months.
SUI's daily active addresses have also increased. It soared in mid-November, reaching more than 900,000 on the 13th, and then stabilized at around 650,000.
This shows that user participation is high, which is consistent with the price increase of SUI.
The total supply of SUI is 10 billion, and now only 2.85 billion are in circulation. The supply is a bit tight, and the price is more likely to rise.
Compared with the total amount, the circulating supply is not much, and the issuance of tokens in the future can also be controlled.
The price of SUI has risen, social sentiment has also risen, and the transaction volume has increased.
Discussions on social platforms are getting more and more heated, and retail investors are excited, guessing how it will rise.
Social activities are closely related to price trends, and retail sentiment may be the main reason for SUI's price increase this month.
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