Sui (SUI) surged 21% to hit $4.00 on May 8, following Bitcoin’s rally past $104,000 and renewed interest from Meta in stablecoins. This push has attracted both retail and institutional attention, with trading volumes and investor sentiment on the rise.
Currently SUI Price trading at $3.91 as per Coinpedia Market data.
Meta Connection Adds Fuel to the Rally
Sui was created by former Meta engineers who worked on the now-defunct Diem project. Now, under the leadership of Ginger Baker, Meta’s new VP of Product, the company is once again exploring stablecoins for global payments—especially for creators and businesses on platforms like Instagram.
This renewed focus from Meta has spotlighted Sui, giving it both credibility and momentum.
Sui Futures Hit Record High
According to Coinglass, open interest in Sui futures reached an all-time high of $1.86 billion, a 30% increase in just a few days. This shows growing interest from institutional and leveraged traders betting on Sui’s future price movement.
Technical Indicators Point to More Upside
SUI is trading in a bullish zone after breaking above key resistance:
Current Price: $4.00
Next Target: $4.35 (1.618 Fibonacci level)
Support: $3.71
Buy Zone: Pullback to $3.88
Strategy: Buy at $3.88, target $4.35, stop loss at $3.71
The MACD is still positive but shows early signs of slowing, hinting at a short-term consolidation before another push higher.
Ecosystem Growth Strengthens Fundamentals
Sui’s fundamentals are also improving:
Total Transactions: Over 10 billion (Source: SuiScan)
Total Value Locked (TVL): $1.76 billion (Source: DeFiLlama)
Previous TVL High: $2.08 billion
Even with record futures interest, funding rates remain flat at 0.0074%, suggesting that there’s still room for more aggressive trading without major market overheating.
Sui’s strong technical setup, Meta connection, and growing ecosystem make it one of the most watched altcoins right now. With open interest hitting record highs and support holding steady, bulls may be eyeing $4.35 next — and possibly higher if momentum continues.
