Sui Surges 11.05% as Memecoins Drive Network Growth

Sui's latest price was $2.98, up 11.052% in the last 24 hours. Sui, a rising star in the crypto world, has captured investors’ attention with its robust network and the explosion of memecoins developed on its blockchain. Memecoins such as LOFI and BLUB have seen significant increases in value. This wave of new token launches has hugely contributed to a surge in transaction volume and overall usage of the SUI network, driving a positive feedback loop of growth and investor interest.

The SUI bullish breakout is impressive and is caused by the on-chain fundamentals that highlight the rapid adoption of the SUI blockchain. Since February, the number of active user addresses has increased tenfold, jumping from under 200,000 to over 2 million by mid-April. The total value locked (TVL) on SUI has reached $1.53 billion, which indicates a substantial capital commitment across its decentralized applications (dApps). Stablecoin holdings on the platform hit a record high of $880 million on April 21, with predictions suggesting the $1 billion milestone could soon be crossed.

Sui’s rally appears to be driven by memecoin activities on its network. Tokens like LOFI and BLUB have exploded in value over the past week, gaining 150% and 65%, respectively. This surge in meme-driven activity has pushed daily transaction volume on the Sui network up by 54.7%. Sui ranks 8th largest chain with the most DEX volume. Meanwhile, Sui’s ecosystem continues to expand. Cetus, a leading DEX aggregator on Sui, has climbed into the top five swap aggregators and now ranks as a top 10 DEX across all chains by daily volume. Despite being down 54% from its January 6 peak, the Sui network shows promising signs of fundamental growth. Developer activity is on the rise, with over 80 new developers joining the platform in the past week, pushing GitHub commits to over 20,400 contributions.

Sui’s rising profile could be further boosted by institutional interest. In March, digital asset investment firm Canary Capital Group submitted an application to the U.S. SEC for a spot Sui ETF. If approved, it would mark the first-ever exchange-traded fund tied to the spot price of Sui. Analysts suggest this could propel Sui’s market cap beyond $15 billion, potentially placing it among the top 20 cryptocurrencies.

Sui recently captured the attention of the crypto market with a strong price rebound, breaking out of a well-defined falling wedge pattern. Analysts noted that SUI’s price moved decisively above a descending resistance line, a key development that often marks the end of prolonged corrections. Prominent analysts also highlighted a bullish channel forming in SUI charts, with potential targets stretching toward $4. Such patterns strengthen the idea that the token may be entering a recovery phase, making this SUI price surge a moment to watch in 2025.

Alongside the breakout in price, notable shifts in on-chain activity further supported the bullish sentiment. Whale wallets holding more than 1 million SUI increased by 8% over two weeks. This category of investors typically positions itself ahead of long-term rallies, which gives weight to the view that SUI may have more room to rise. Meanwhile, transfer volumes jumped from $48 million to $80 million within a week, reflecting increased user activity and broader interest. This upward trend in large-scale transactions is an encouraging sign for long-term holders and market watchers considering whether SUI can go up in 2025.

Retail participation is another positive indicator in the current SUI market. According to platform data, the total price rose by 30% in one week, surpassing 150 million users. This rapid expansion speaks volumes about the appeal of the network’s features, such as low fees and a developer-friendly environment. In the decentralized finance space, SUI’s total value locked (TVL) climbed to $2.33 billion, with consistent daily growth. Leading platforms like Cetus and Navi are attracting liquidity, reinforcing the ecosystem’s depth. A 23.23% rise in SUI’s stablecoin market cap to $8.93 billion also plays a key role, improving overall liquidity and enabling smooth access to DeFi services. These developments make a strong case for those asking: Can SUI go up in 2025? The answer looks promising based on current indicators.

Stablecoin inflows often act as a health indicator for any blockchain network. In SUI’s case, a notable 27.05% increase in 24 hours shows that investors are moving capital into the ecosystem. Stablecoins help maintain liquidity and provide the foundation for a robust DeFi ecosystem. The broader crypto market saw a wave of green today, and among the standout performers is Sui, which has posted eight consecutive green candles within 24 hours. The rally follows a renewed appetite for risk in the market, triggered in part by U.S. President Donald Trump’s recent softer stance on trade relations with China. Sui’s rally appears to be driven by memecoin activities on its network. Tokens like LOFI and BLUB have exploded in value over the past week, gaining 150% and 65%, respectively. This surge in meme-driven activity has pushed daily transaction volume on the Sui network up by 54.7%. Sui ranks 8th largest chain with the most DEX volume. Meanwhile, Sui’s ecosystem continues to expand. Cetus, a leading DEX aggregator on Sui, has climbed into the top five swap aggregators and now ranks as a top 10 DEX across all chains by daily volume. Despite being down 54% from its January 6 peak, the Sui network shows promising signs of fundamental growth. Developer activity is on the rise, with over 80 new developers joining the platform in the past week, pushing GitHub commits to over 20,400 contributions.