Sui soars 11%, fueled by memecoin frenzy

Sui has witnessed a remarkable surge in popularity, driving positive signals for its technical outlook and fueling excitement within the cryptocurrency market. This upward trend is largely attributed to the recent boom in memecoin activity on the network. SUI’s price surged an impressive 11.86%, reaching $2.43 on April 22nd, following a notable technical break-out. The surge has been fueled by the growth of memecoins on the Sui blockchain, with prominent examples like MUI, LOFI and BLUB experiencing significant gains in recent days. Notably, LOFI saw a remarkable 143% rise over the past week, while BLUB gained 57% during the same period.