Sui price has staged a strong comeback this year and is on track to hit the all-time high of $5.35. The token soared from a low of $1.7290 on April 7 to the psychological point of $4 today. This article provides the most likely Sui price prediction and identifies the top three rivals to buy for big gains.
Sui price prediction: to retest all-time high
The daily chart shows that the SUI price bottomed at $0.4617 in August last year, and has soared to the important resistance point at $4 today, representing a 735% surge from the current level.
Sui has formed a bullish flag pattern, consisting of a vertical line and some consolidation. It has already moved above its upper side, confirming the bullish breakout. Also, the 50-day and 100-day moving averages have made a bullish crossover pattern, commonly known as a mini-golden cross.
Therefore, the most likely Sui price forecast is bullish, with the next point to watch being at $5.35, the highest point in January this year. This price is about 40% above the current level. A move above that level will point to more gains, potentially to $10 in the long term.
Why the Sui Coin price is soaring
There are a few reasons why the Sui price is rising. First, it is surging as some investors predict that it is a viable Solana rival because of its faster speeds and low transaction costs.
Second, the Sui ecosystem is doing well, with its DeFi network having 63 dApps and its total value locked (TVL) rising to over $2.82 billion. This makes it the 9th biggest chain in the crypto industry.
Third, activity in the network is seeing impressive growth. One of the best metric that proves this is the volume of stablecoins in the network. Its stablecoin market cap has jumped to $905 million, and there are odds that it will hit the $1 billion milestone next week.
Further, the Sui meme coin ecosystem is growing, with the combined market cap jumping to over $218 million.
Top Sui rivals to buy
While Sui has more gains to go, there are several under-the-radar rivals to buy for huge gains ahead. The most notable ones are Near Protocol (NEAR), Aptos (APT), and Sonic (S).
Near Protocol (NEAR)
Near Protocol is one of the top Sui rivals to buy today because of its strong fundamentals. It has a total value locked of over $345 million and over $715 million in stablecoins, a figure that has continued growing this year.
Most importantly, Near Protocol is one of the most active chains in crypto. For example, it handled ove 43 million transactions in the last seven days, fourth only to Solana, Tron, and Base. And recently, Bitwise filed for a NEAR ETF, which may provide another catalyst.
Aptos (APT)
Aptos is another to Sui rival to consider. Like Near, it is one of the most active chains in the crypto space with over 29 million transactions in the last seven days. It is also a highly popular coin with over 4.7 million active addresses in the same period.
Aptos has a growing stablecoin market cap that is much bigger than Sui. It has over $1.1 billion of this, a figure that has continued growing this year. Therefore, the Aptos price will likely keep rising this year as the DeFi TVL soars.
Sonic (SS)
Sonic is one of the top Sui rivals to buy and hold. It is a fast-growing chain that handled over 5 million transactions in the last seven days, a 35% increase from the same period a week earlier. Its active addresses jumped by over 255%, while the stablecoin market cap has soared to over $534 million, a notable amount for a chain that relaunched earlier this year.
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