It was another ghastly day for the Sui price, August 19-a day fitting for those who enjoy tales of woe and tragic love, preferably from the safe distance of a chaise lounge. Even the mighty Robinhood, that crowned hero of American crypto, could not rescue the dear token from its swan dive.
- Sui price flopped worse than Bertie Wooster at a golf tournament-down nearly 4%, Robinhood or no Robinhood.
- The coin fashioned itself a rather trendy head-and-shoulders pattern on the eight-hour chart, presumably preparing for a portrait.
- The whole crypto market decided to emulate a fainting Victorian lady and collapse, just for dramatic effect.
Sui (SUI) token has spent three grueling days imitating a falling soufflé, reaching its lowest level since August 7, and now 21% below its brightest and shiniest high this year. Jeeves, fetch the smelling salts!
Sui Price Crashed as Demand Slinked Off for Tea
The Robinhood listing made Sui available to more Americans than a free pie giveaway, yet, instead of skyrocketing, it dived with the elegance of a rather heavy pigeon. Normally, this sort of listing sends cryptos up like Aunt Agatha’s blood pressure at family gatherings.
What gives, you ask? Permit me to offer three theories, all with the gravitas of a chap in a monocle:
First, the whole crypto market is having a bit of a sulk. Bitcoin (BTC) itself took a tumble all the way to $113,000-a number so dramatic, even old Bingo Little might be impressed. The collective market cap dropped to $3.83 trillion; last week it was $4.1 trillion, so clearly someone’s lost their umbrella.
Second, Sui demand is fading like last night’s bottle of port. CoinMarketCap reports a 10% drop in 24-hour volume, now at a sobering $1.33 billion. Futures open interest, for those who love a wager, slipped to $1.84 billion (down from $1.9 billion). One can practically hear the distant sobs of disappointed punters.
Meanwhile, investors keep slipping their tokens out of staking pools as if they’re escaping Aunt Dahlia’s luncheon party. StakingRewards marks a decline of 27 million staked Sui-worth $95 million in old money-over the past 30 days.
Third, the Sui ecosystem is, putting it kindly, wheezing. Its decentralized finance bravely tried to hold the fort, only to drop by 4.15% in value to $2.79 billion these last 30 days. Even its stablecoin market cap has done its best impression of a soufflé collapse-falling 12.8% in just one week to $767 million. A tragic ballet indeed. 🩰
Technical Analysis-Where Hope Goes to Die
The eight-hour chart sketches a bleak picture-SUI has been on a relentless downward slope, plummeting from $4.20 on August 13 to a not-so-glamorous $3.46. It’s not so much “rocket to the moon” as it is “bobsled to the basement.”
The token has tumbled below the 50-period moving average at $3.20, and has performed the head-and-shoulders routine with the panache of a weary ballet dancer. As for technical signals, the Supertrend indicator is waving a red flag-a subtle hint, not unlike Jeeves quietly moving the port out of reach. Relatives Strength Index and MACD? Both pointing downward, no doubt plotting a swift departure to the French Riviera.
The crystal ball (borrowed from the Drones Club) suggests Sui price may keep falling, with sellers bowling for the resistance level at $3.2845. Should it break below, expect Sui to poke its head below $3 and ponder the meaning of life. 🥲
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2025-08-19 22:26