As a seasoned analyst with decades of experience in the ever-evolving world of cryptocurrencies, I can confidently say that the Sui Blockchain is quickly establishing itself as a force to be reckoned with. The meteoric rise of Sudeng (HIPPO) and other meme coins on its platform is a testament to the robustness of its ecosystem and the increasing demand for such digital assets.
On the Sui Blockchain, a new meme coin called Sudeng experienced a surge of more than 30%, as the broader cryptocurrency market rebounded.
On October 3rd, the value of HIPPO (Sudeng) reached an all-time peak of $0.0143, marking a significant surge of approximately 180% compared to its lowest point this week.
The rally occurred due to an increase in the desire for SUI meme tokens, causing their overall market capitalization to reach a peak of $234 million.
In the past week, Blub, which ranks second among meme coins following Sudeng, has surged by 10%. Meanwhile, during the same timeframe, Fud the Pug (FUD) experienced a significant increase of over 107%, and aaa Cat saw an even more impressive rise of approximately 665%.
Sudeng’s rally occurred while the Sui Blockchain remained active with high engagement. Notably, its token has emerged as the top performer among major coins within the past month, surging more than 127% in value.
Sui Blockchain is doing well
In the past month, there’s been a substantial increase of more than 66% in the value locked within its ecosystem, surpassing $1.01 billion. This growth propels it to the seventh position among blockchain networks, with industry leaders being NAVI Protocol, Cetus, Suilend, and Scallop Lend.
As an analyst, I’d rephrase that as follows: Over the past week, my analysis shows a significant surge in my platform’s DEX volume, reaching an impressive figure of more than $826 million, which represents a 32% increase. This growth has propelled me to the sixth-largest position within the DEX industry, a testament to the strong performance of meme coins within our ecosystem.
Over the past day, Suiscan reported a significant increase of more than 12.5 million transactions in their network, bringing the total to approximately 2.02 billion.
meme-based cryptocurrencies play a significant role within the broader crypto market, as per statistics from CoinGecko, their collective market capitalization surpasses $50 billion.
The significant increase in their value has resulted in numerous individuals becoming extremely wealthy. As reported by Lookonchain, one of the HIPPO token holders recently sold 2.53 billion tokens for approximately $7,500. Given Sudeng’s escalating price, these tokens would be worth more than $30 million today.
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2024-10-04 17:34