Is SUI Actually Breaking Out or Just Pulling a Fast One? Jerry, I’m Not Convinced!

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So now, everyone’s all over this SUI token. Was anyone talking about SUI last week? Nope. Now it’s “breaking out” and I’m supposed to get excited because it crossed three bucks? Wow, big accomplishment. My grandmother can cross three bucks, and she doesn’t know what crypto is. 😏

SUI’s Big “Breakout”—Let’s Not Throw a Parade

Look, SUI finally broke above $3, coming out of whatever “descending channel” it was trapped in. Sure, maybe it’s time to pop the champagne—if your standards are really, really low. Open interest is up, spot volume is up, and apparently, everyone’s buying. I mean, unless they’re not. Half these charts look like my cholesterol graph after a good pastrami sandwich. RSI above 50? Great. That’s not exactly the same as Warren Buffett handing you his checkbook.


See the chart up there? Yeah, the price is squeezed between the 50-day and 200-day MA. Oooh, so dramatic. Look, unless this thing clears the 200-day MA at $3.27 and sets up camp there like it’s on vacation, I’m reserving my enthusiasm. “Incremental RSI supports the bullish thesis”—I don’t even know what that means anymore, but it sounds awfully impressive. 😂

Ecosystem Growth? Or Just a Lot of Hype?

Everybody’s yapping about SUI’s “ecosystem.” I love ecosystems! But does that mean you’re making money, or just collecting cute DeFi stickers? Sure, developers are running around, partnerships are popping up like weeds after rain, and everyone’s building something. Even DEX volume and wallet numbers are up. But social sentiment? Of course people are talking—it’s crypto, people don’t shut up. 🤦‍♂️

Let’s not kid ourselves: $3.2 to $3.38 is apparently tougher to get through than airport security with a bottle of shampoo. And don’t forget those upcoming token unlocks—like sneaky neighbors at a garage sale, they could dump everything and tank the price. Still, if it can close strong above that range, maybe, just maybe, it’ll hit $4. But I’m not betting my Larry Bucks just yet. 🙄

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2025-07-10 15:29