Sui Network (SUI) Token Breakout Signals Significant Bullish Potential, Anticipating 209% Gains

In a recent report, popular crypto analyst Captain Faibik highlighted the Sui Network (SUI) token’s significant bullish potential.

A recent report by Captain Faibik, a popular crypto analyst, highlights the potential for a significant rally in the Sui Network (SUI) token.

His observations come amid a noticeable rising trend in the token’s performance over the last ten days. As per the chart posted by Faibik, SUI has broken out of a falling wedge pattern.

This pattern notably coincides with the mid-October 2023 period, where the SUI token price went on to register an increase of over 350%. Anticipating a smaller gain this time, Faibik points to a potential target of around 209%, which would place the token above the last swing high.

Currently, the SUI token is trading at around $0.8468, down 2.56% in the last 24 hours after rising over 12% over the last seven days.

This bullish sentiment comes as several recent developments within the SUI ecosystem are highlighted.

Sui Network Announces AUSD Mainnet Integration, Non-EVM Expansion

In a notable development, Sui Network has announced the integration of AUSD on its mainnet.

This marks Agora’s first entry into a non-EVM ecosystem, enabling it to mint fiat and accept other stablecoins via its OTC partners. Interestingly, the initial $35 million in funding for this venture came from other stablecoins.

We're excited that AUSD will be live on Mainnet soon, marking the first time @AgoraDollar will expand into a non-EVM ecosystem.

Learn more about what Agora has been up to recently and why they're different from other stablecoins in the market today: https://t.co/hedAr2BfS7

— Sui (@SuiNetwork) July 18, 2024

Previously, we also covered how customers of Zero Hash, a leading crypto and stablecoin infrastructure platform, can now enable the SUI token.

Both PI and SDK products by Zero Hash are designed to facilitate the integration of blockchain technologies, including Sui, into various enterprise use cases.

Additionally, CNF highlighted the debut of CC FishingStar, a blockchain game by Sui Network, promising to enhance the gaming experience with fast transactions and dynamic NFTs.

Combining the excitement of fishing with the unique strengths of blockchain technology, Sui’s game aims to offer an immersive experience.

The above is the detailed content of Sui Network (SUI) Token Breakout Signals Significant Bullish Potential, Anticipating 209% Gains. For more information, please follow other related articles on the PHP Chinese website!