Sui Price Surges 13% As Circle Announces Upcoming USDC Launch, But Analysts Say Consider This Layer-2 PEPE For 100X Gains

Sui Price Surge Attributed to Upcoming USDC Integration

The Sui price has witnessed a significant 13% surge within the past 24 hours, reaching $1.21 as of 11:33 p.m. EST. This rise is primarily attributed to increased trading activity as anticipation mounts for the integration of USDC, the second-largest stablecoin by market capitalization, onto the Sui network.

As part of this integration, USDC will receive native support on Sui via the Cross-Chain Transfer Protocol (CCTP).

Sui Price Forms Bullish Channel

Technical analysis indicates the formation of an ascending channel on the 4-hour chart. The Sui price has surpassed the resistance level of $1.1370 and has been consistently forming higher highs and higher lows. If the positive momentum persists over the next 24 hours, the altcoin could potentially establish $1.2965 as a support level.

However, a breakout from the bullish price channel could indicate a reversal in trend. This scenario may prompt traders to reassess the altcoin's positive outlook, potentially leading to a test of the support level at $1.1370.

Technical Indicators Suggest Continued Growth

Indicators on SUI's 4-hour chart suggest the potential for further price appreciation. The Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) are both showing positive signs. The RSI has moved from 50 to 68, indicating increased buyer participation. The positive slope of the RSI line suggests that buyers are maintaining their strength against sellers.

Meanwhile, the MACD line has crossed above the MACD Signal line, confirming a positive short-term trend for SUI. The growing gap between these two lines may indicate intensifying bullish momentum.

Pepe Unchained Presale Gains Traction

As Sui's price gains momentum, investors are actively participating in the presale of Pepe Unchained (PEPU), a layer-2 meme coin project. YouTuber ClayBro, who commands a following of 130,000 subscribers, anticipates the potential for significant returns on investment.

Pepe Unchained Elevating the Meme Coin Sector

Pepe Unchained aims to enhance the meme coin sector by providing a layer-2 solution for the popular PEPE token. This will significantly improve transaction speeds and reduce costs, enhancing the overall usability of the meme coin.

High Staking APY Attracts Investors

Pepe Unchained has secured over $13.6 million during its ongoing ICO and is approaching the $14 million milestone. The lucrative 152% APY offered to presale buyers who stake PEPU is believed to be a major factor in the project's popularity.