As of September 30, 2024, the price of Sui ($SUI ) coin was $1.7112, with a 24-hour increase of 2.08%, showing a recent upward trend. $SUI is a high-performance decentralized blockchain designed to provide fast, secure and scalable infrastructure for decentralized applications (dApps) and digital assets.

From a technical analysis perspective, the relative strength index (RSI) of SUI coin is high, indicating that the market may be overbought and there may be a risk of a price correction in the short term. However, both the SUI coin’s 50-day and 200-day simple moving averages (SMA) are showing an upward trend, suggesting that there may still be room for upside in the medium to long term.

It is worth noting that SUI Coin will unlock approximately 64.19 million tokens this week, worth approximately US$108 million, which may have a certain impact on the market. Unlocking events may increase supply on the market, creating short-term pressure on prices. However, if market demand remains strong, this unlocking may not have a significant negative impact on prices.

The SUI coin ecosystem is also constantly developing. Several Meme coins based on Sui have been active recently, such as BLUB, FUD, SUICUNE, SCB, etc. The market value of these Meme coins has increased significantly, reflecting the market’s interest in the Sui ecosystem. interest and confidence.

Taken together, the short-term price trend of SUI coins may be affected by the unlocking event, but the mid- to long-term trend still looks positive. When considering buying or holding SUI coins, investors should pay close attention to market dynamics, technical analysis indicators, and the development of the Sui ecosystem.

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