SUI, a blockchain project that many now call Solana’s biggest rival, is suddenly back in the action.

Over the past week, its price has jumped nearly 25%, going from $1.86 to around $2.32.

SUI, the blockchain project that many now call Solana's biggest rival, is suddenly back in the action. Over the past week, its price has jumped nearly 25%, going from $1.86 to around $2.32. But this quick surge is just part of a much bigger picture. Several signs are pointing to something much bigger on the horizon for this rising Sui token.

SUI Stablecoin Inflows Hit Record High

SUI was once seen as one of the worst-performing assets this year, with its price falling nearly 60% since January. But things started to change in March and April, as the token began showing signs of a strong comeback.

In the last week alone, the SUI network saw a major jump in stablecoin activity. Around $60 million worth of stablecoins flowed into the network in just 24 hours, marking a new record. This surge has now placed SUI among the top blockchain networks when it comes to stablecoin inflows, even outpacing giants like Ethereum and Solana.

SUI Showing Strong Bullish Signals

Adding even more excitement, popular crypto analyst Raoul Pal has shared a very bullish outlook for the token. Looking at the SUI’s 1-day price chart, Pal believes the coin is close to breaking out of a downward trend and may be ready for a strong rally.

This view is supported by another well-known crypto trader, Capital Faibik, who spotted a “falling wedge” pattern forming on SUI’s chart. This pattern often signals a breakout, and if that happens, we might see the price surging to around $4.80.

However, the most eye-catching prediction comes from investment giant VanEck. The firm, which manages over $116 billion in assets, says SUI could rise by more than 350% and hit $10 by the end of 2025. This prediction seems more likely now, as Canary Capital Funds has just filed for the first-ever SUI token ETF. This move could attract institutional investors, which usually helps the asset grow in the long term.

SUI Price Analysis

As of now, SUI is currently trading at $2.32, showing a 1.5% increase in the last 24 hours, with the market cap reaching $7.5 billion.

As we delve into the technical analysis, it becomes clear that the bulls are still in command. The RSI has shown a significant rebound, surging from 48 to 68, which denotes a return of buying pressure. Furthermore, the MACD has undergone a bullish transformation, indicating that the trend might continue its upward trajectory.

The token recently broke past a critical resistance at $2.25, a level that now provides solid support for further advances. If SUI keeps pushing forward, the next resistance point to watch is at $2.78. A breakout above this could lead to a steeper rise toward the subsequent resistance at $3.17.