Sui's price shows no signs of slowing down as November begins. Despite a brief market-wide dip following the October 31st U.S. stock market crash—where cryptocurrency市值 dropped 5.3% and Bitcoin fell below $70,000—analysts remain bullish on SUI. The token skyrocketed over 400% between August 5th and October 31st, demonstrating remarkable resilience.
Why Sui Price Could Surge Further in November
Currently priced at $1.93 (a 6.8% 24-hour dip), SUI sits 35% below its all-time high of $2.34. Strong on-chain metrics suggest this upward trajectory may continue. Here are three compelling reasons:
1. Sui Network Aggregator Hits $5 Billion Milestone
Sui’s DeFi aggregator recorded $5 billion in October trading volume—an all-time high. Leading platforms included:
- Cetus (highest volume)
- Hop Protocol
- Scallop
- 7K
This surge signals growing market activity, which could drive price volatility as more users join. Notably, SUI tokens saw $150 billion in cumulative monthly volume, indicating strong momentum.
👉 Discover how Sui’s ecosystem compares to other DeFi giants
2. Rising Transactions, Falling Fees
Sui’s average daily transaction fee dropped to $0.00331 in October—among the lowest in blockchain—while volume increased. This efficiency boost enhances scalability, potentially attracting more developers and users.
3. Active Accounts Exceed 25 Million
From under 2 million in July to 25 million by October, Sui’s active accounts grew exponentially. Artemis Analytics revealed significant capital inflows from Ethereum, with Sui topping net inflows at **$20 million+**—outpacing Ethereum ($10M), Solana, and Arbitrum.
How High Could Sui Go in November?
Price analysis suggests a potential $48 target, fueled by:
- U.S. election catalysts: PolitiFi meme coins (similar to Solana’s 2024 growth drivers) could gain traction post-election.
Key levels:
- Resistance at **$2.34** (breakout could propel prices to $10, $21, then $48).
- Support at $0.60 if parabolic trends reverse.
FAQs
Q: What’s driving Sui’s recent price surge?
A: Combining DeFi milestones, network efficiency, and explosive user growth.
Q: Is Sui’s low transaction fee sustainable?
A: Yes—its scalable architecture allows fee reductions without compromising security.
Q: Could meme coins impact Sui’s price like Solana?
A: Absolutely. Election-themed tokens may trigger short-term volatility.