The cryptocurrency market was painted red. A number of assets were seen bleeding making it an uneventful start to the week. SUI was also part of this and witnessed a much bigger downfall. Despite this, the community is sure that the asset will record a new all-time high sooner than later. This is mostly because of SUIâs rise earlier this month, where it hit a new peak. The real question is if the cryptocurrency will end the first month of the year on a good note.
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SUI Slips By Over 7%
Source: Asia Crypto Today
Over the past 24 hours, the altcoin recorded a 7.36% drop. At the time of writing, SUI was trading at $4.49. The assetâs weekly loss stands at 13%. Amidst this, the cryptocurrencyâs trading volume was on the rise. Throughout the past day, the assetâs volume surged by 51%, bringing the final value to $1.33 billion.
Source: CoinMarketCap
It is worth noting that SUI hit an all-time high of $5.35 just last week. After the marketâs recent carnage, the asset dropped 15.56% below this peak. Despite this, the community was quite optimistic about the altcoinâs upcoming rise.
According to CoinMarketCapâs Community Sentiment, about 85% of 111.4K individuals believe that SUI is expected to record a rise over the next couple of days. A dainty 15% were on the bearish side of the spectrum.
Source: CoinMarketCap
Also Read: Top 3 Cryptocurrencies To Buy During The Current Market Dip
January Price Prediction
Source: CoinCodex
According to data from CoinCodex, SUI will indeed record new peaks over the next couple of days. The firm revealed that the asset is expected to trade at a maximum price of $15.71, marking a 250% rise from its current price level. This milestone is much higher than the $10 mark. The average trading price of SUI during this month sits at $9.37. The next few days of the month could turn out to be extremely bullish for SUI holders.
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