SUI Crypto Surges 31.8% Amidst Rising Meme Coin Popularity

SUI crypto has surged by 31.8% in 24 hours, bolstered by a 41.4% increase over the past week. Its market cap is at $9.3 billion, with a current price of $2.94, still below its all-time high. The rise in SUI’s price is largely driven by the performance of meme coins like MIU, LOFI, and BLUB, which have seen significant increases in trading activity and market caps.

SUI crypto has surged by 31.8% in the past 24 hours, continuing its upward trend with a 41.4% increase over the last week. Currently priced at $2.94, it remains 45% lower than its all-time high of $5.35 achieved earlier this January. With a market capitalisation of $9.3 billion, SUI ranks 13th among cryptocurrencies, just below Wrapped Bitcoin (WBTC) and Lido Staked Ether (STETH).

The daily trading volume for SUI has reached $2.3 billion, marking a 169% increase from the previous day, indicating heightened market activity. This price rally is attributed to increased interest in SUI-based meme coins such as MIU, LOFI, and BLUB, which have spurred trading activity and driven the price of SUI upwards.

Leading the meme coin segment, BLUB has experienced a 60.8% price increase in the last 24 hours, showcasing a 77% rise over the past week. BLUB currently holds a market cap of $7.7 million with a trading volume of $1 million in the last 24 hours, reflecting a significant increase of 252.6%. Meanwhile, MIU has risen nearly 20% with a market cap of $69.4 million, while LOFI has seen a 13.8% increase.

Recent data indicates that the SUI network has surpassed 500 million total transactions processed, alongside a 7.05% increase in user adoption contributing to ecosystem growth. According to DeFi Llama, the total value locked in the network exceeds $1.5 billion, with the stablecoin market capitalisation approaching $900 million, now at $888 million.

Disclosure: This article does not constitute investment advice; it serves educational purposes only.