SushiSwap’s remarkable 80% price surge has ignited a sense of excitement, attracting derivative traders who are riding the bullish wave. The big question on everyone’s mind is whether this beloved cryptocurrency will maintain its upward momentum.
SushiSwap, represented by the token SUSHI, has seen a substantial price surge, placing it among the notable winners in the present market conditions. This upward trend has sparked the interest of derivative traders, who are increasingly adopting a bullish outlook on SushiSwap’s future performance.
SushiSwap Thriving in the Altcoin Bull Market
SushiSwap is emerging as one of the standout gainers in the current altcoin bull market. This positive trend is partly attributed to the recent rise in the value of Bitcoin (BTC) over the past weeks. As Bitcoin maintained a price level above $34,000, it fueled gains for altcoins like SushiSwap. According to a Santiment report, SushiSwap has recorded an impressive 82% increase in value over the past week.
Examining the daily chart, a substantial portion of SushiSwap’s remarkable 80% price surge occurred during a single trade on November 1st. This specific trade contributed to 47.80% of the overall increase. Following this surge, the asset experienced a modest drop of over 8% in the subsequent trading session. However, it remained within the new price range. At the time of writing, SushiSwap was trading at approximately $1.0, with a 2% increase in its value.
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