A popular crypto analyst believes the Sui (SUI) cryptocurrency is poised for a huge price jump. They see a massive opportunity for investors.
A Hack, But a Buying Opportunity?
The analyst, known as Kaleo, points to a recent $223 million hack of the Cetus Protocol, a decentralized exchange (DEX) on the Sui network, as a potential catalyst for growth. While the hack initially caused SUI’s price to drop, Kaleo argues this dip presents a prime buying opportunity. They compare it to similar situations with Solana (SOL), where price drops were followed by significant rebounds. Kaleo highlights the swift response of Sui’s governance in addressing the hack as a positive sign.
Price Predictions and Chart Analysis
Kaleo predicts SUI could hit a new all-time high of around $7.50, more than doubling its current price. This potential surge, they suggest, could happen as early as September. Their analysis also includes a bullish outlook based on SUI’s performance against Bitcoin (BTC). They believe a breakout is imminent.
Current Price and Disclaimer
At the time of writing, SUI is trading at $3.45. It’s important to remember that this is just one analyst’s opinion, and cryptocurrency investments are inherently risky. Always do your own research before investing.
