SEI Doubles Price Since May, Leads in Wallet Activity

SEI has recently demonstrated significant strength in the market, achieving its highest-ever weekly volume and leading in returning wallet activity. This momentum is evident in both price movements and on-chain data, placing SEI in a robust technical position. The cryptocurrency has doubled in price since May, rising from $0.1450 to $0.3061, with minimal resistance encountered along the way.

According to CryptoBullet, SEI has successfully broken out of a multi-month rounding bottom formation, a pattern that indicates a shift from early weakness to renewed demand. This breakout is supported by a surge in volume, which reached its highest level ever on the weekly timeframe. The price movement through the MA21 curve further validates this bullish trend, suggesting strong follow-through and fresh bullish energy behind SEI’s recent rally.

The green target zone placed above the $1.00 mark signals a potential roadmap for SEI if the current momentum persists. This area has become a focal point for bulls tracking continuation strength, with the dotted path above the neckline suggesting that SEI could maintain its aggressive trajectory in the coming sessions. The upward curl of the MA21 line adds extra validation that the trend direction has flipped decisively, with structural integrity and demand zones remaining intact above the breakout line.

SEI is also leading in daily returning users, surpassing Ethereum, Sui, and Avalanche on June 28. According to Ryuzaki, the network recorded 335.9K active wallets, outpacing Ethereum’s 315.4K and more than doubling Sui’s 198.0K. Avalanche followed with just 38.4K, confirming SEI’s widening gap. This wallet activity spike aligns perfectly with the chart’s surge in volume and price, indicating that SEI’s network is not only active but also sticky, with users returning daily and contributing to its DeFi ecosystem. The total count across all four chains hit 887.7K, with SEI taking the largest share.

This level of on-chain data confirmation often precedes broader market attention and deeper liquidity. With SEI pushing past $6.2 billion in swap volume and commanding user dominance, the setup remains bullish. SEI has now positioned itself at the front of both price action and user re-engagement – a rare combination in volatile markets. The strong price and user growth, coupled with the highest-ever weekly volume, suggest that SEI is well-positioned for further gains, potentially reaching the $1.00 mark if the current momentum continues.