Sui Price Eyes Rebound to $2 as DEX Volume Hits $206M in 24 Hours

The Sui (SUI) ecosystem is experiencing a pivotal moment as decentralized exchange (DEX) volume surges to $206 million in a 24-hour period, signaling renewed institutional and retail interest in the blockchain's scalability-driven narrative. This surge, coupled with recent price action, has positioned SUI at a critical juncture: a potential retest of the $2 psychological level, a threshold that could unlock broader bullish momentum.

DEX Volume as a Catalyst for Price Discovery

Sui's DEX volume has consistently outperformed expectations, with the $206 million 24-hour figure reflecting a 20.8% quarter-over-quarter increase in average daily trading activity. This growth is underpinned by Sui's technical advantages-low fees, high throughput, and a user-friendly interface-that have attracted both retail traders and institutional capital. For context, Q2 2025 saw Sui's DEX volume peak at $367.9 million, and the November 2025 surge suggests a continuation of this upward trajectory.

The correlation between DEX volume and price is evident in recent data. On November 25, 2025, SUI surged 12% to $1.53 amid a 70% spike in trading volume to $1.14 billion. Simultaneously, stablecoin inflows into the Sui ecosystem hit $2.4 billion in 24 hours, while DeFi total value locked (TVL) climbed to $1.006 billion. These metrics indicate a shift from speculative trading to on-chain utility, a critical factor for sustainable price appreciation.

Technical Indicators and Institutional Accumulation

SUI's price action in late November 2025 has been marked by volatility but also strategic accumulation. A 7.33% rally to $2.08 occurred on below-average volume, suggesting targeted buying by whales or institutions. This was followed by a 168% spike in token trading volume (44 million tokens) as the price broke through a key resistance level. Analysts from Brave New Coin and CoinPedia have highlighted Fibonacci retracement levels projecting a potential rise to $7.70–$11.20, contingent on sustained market confidence.

The current price of $1.5610 as of November 26, 2025 reflects a consolidation phase, after recent peaks. However, technical analysts note a "falling wedge" pattern in SUI's chart, a bullish formation that could propel the price toward $2 if the $1.60 support holds. A retest of the $2 level-last seen in early November-would validate the thesis of a broader breakout, with some projections suggesting a target range of $3–$4 aligning with broader bullish projections.

Market Sentiment and Structural Catalysts

SUI's ecosystem expansion is another tailwind. The launch of the GSUI Trust by Grayscale and listings on major exchanges like Coinbase and Bitget have broadened institutional access have broadened institutional access. These developments align with Sui's vision of bridging traditional finance and decentralized infrastructure, a narrative that resonates in a market increasingly focused on utility-driven assets.

However, risks remain. A 6% price plunge in mid-November 2025 highlighted liquidity pressures amid broader crypto market downturns. Retail traders must weigh these risks against Sui's fundamentals, including its 16.8% year-over-year growth in active addresses and a roadmap emphasizing cross-chain interoperability.

Conclusion: A High-Conviction Play

Sui's confluence of surging DEX volume, technical momentum, and institutional adoption positions it as a high-conviction play for 2025. While the $2 level remains a psychological hurdle, the underlying metrics-stablecoin inflows, TVL growth, and exchange listings-suggest that SUI is building a foundation for a sustained rally. Investors should monitor on-chain activity and volume spikes as leading indicators of a potential breakout. If the $2 level is retested and held, the next target could be the $3–$4 range, aligning with broader bullish projections.

In a market where narratives often outpace fundamentals, Sui's blend of technical innovation and real-world adoption offers a compelling case for long-term value creation.