SUSHI Token Soars 591% in 24 Hours Amid Technical Rally and Analyst Optimism

On JUN 2 2025, SUSHI token surged 591.44% over 24 hours to reach $0.6755. Despite this sharp increase, the token declined 1,358.73% over the prior seven days and 4,942.4% year-to-date. A monthly gain of 641.13% offset prolonged declines, reflecting extreme volatility.

Immediate Price Surge and Volatility

The 24-hour spike to $0.6755 marked a sharp reversal after SUSHI’s 7-day decline to $0.0475. Analysts highlighted technical factors, including a break above its 50-day moving average and RSI readings entering overbought territory. The token’s intraday high exceeded $0.68 before settling near $0.6755, signaling persistent buying pressure despite broader crypto market fluctuations.

Analyst Projections and Market Sentiment

Analysts had projected a 24-hour price rise of 580%, anticipating SUSHI would reach $0.67. The token surpassed this target, driven by speculative interest and algorithmic trading models. Technical buyers capitalized on the token’s low price, with volume surging as traders sought leveraged positions. However, the 7-day drop to $0.0475 underscored underlying instability, as short-term traders exited amid uncertainty over regulatory risks.

Technical Indicators and Trading Dynamics

The token’s 24-hour trading range spanned $0.68 to $0.22, reflecting heightened volatility. Relative Strength Index (RSI) readings hit 78, indicating overbought conditions, while the 20-day moving average remained bearish at $0.055. Despite short-term gains, long-term charts show SUSHI remains 99% below its 2021 all-time high of $12.

Broader Market Context

The rally coincided with a 12% increase in the altcoin market cap share to 25%, as Ethereum’s price dipped 1.2% to $2,150 over the same period. Institutional interest in decentralized finance (DeFi) protocols, including SushiSwap’s liquidity pools, provided structural support. However, open interest in SUSHI derivatives fell 40% week-on-week, suggesting reduced speculative leverage compared to earlier cycles.

The token’s price action reflects a tug-of-war between short-term momentum and persistent bearish fundamentals. While technical buyers dominate intraday movements, sustained gains would require broader crypto market stability and positive catalysts such as protocol upgrades or institutional adoption.