Sui Price Drops 9% Amid Insiders FUD; Investors Switch to Meme Coin[embed]https://www.youtube.com/watch?v=PJ1-89HFYHQ[/embed]

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</div></div></div><p>The Sui price dropped 9% within the past 24 hours, currently trading at <a href="https://coinmarketcap.com/currencies/sui/">$2.03</a> as of 3:20 a.m. EST, with trading volume increasing by 44% to $1.39 billion.</p>
<p>The decline in SUI's price came amid allegations of insider trading. The team refuted claims of $400 million in insider trading, stating that the sales were from an infrastructure partner.</p>
<p>Officials from the project asserted that no insiders, employees, or SUI investors have participated in any preemptive selling of the token or breached its supply schedule.</p>
<p>This price drop occurred despite some favorable news recently. Just yesterday, major cryptocurrency exchange BitGo announced new asset support for the Sui Network, providing custody for two assets, DeepBook (DEEP) and Sui Naming Service (NS), which may boost engagement and activity within the project’s ecosystem.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true" wp_automatic_readability="10.105839416058">
<p lang="en" dir="ltr"> New Asset Support </p>
<p>We are excited to extend our support for the <a href="https://twitter.com/SuiNetwork?ref_src=twsrc%5Etfw">@SuiNetwork</a> ecosystem with custody for two new assets: Sui Naming Service <a href="https://twitter.com/search?q=%24NS&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NS</a> and DeepBook <a href="https://twitter.com/search?q=%24DEEP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DEEP</a>.</p>
<p>Here’s what you need to know  <a href="https://t.co/7dwcG2CmMJ">pic.twitter.com/7dwcG2CmMJ</a></p>
<p>— BitGo (@BitGo) <a href="https://twitter.com/BitGo/status/1846266928484192377?ref_src=twsrc%5Etfw">October 15, 2024</a></p></blockquote>

<p>Additionally, Sui announced its participation in the ETH Sofia Hackathon, collaborating with the Walrus Protocol. It plans to demonstrate the capabilities of Walrus and its impact on the future of decentralized storage.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true" wp_automatic_readability="10.96">
<p lang="en" dir="ltr">We’re excited to share that Sui and <a href="https://twitter.com/WalrusProtocol?ref_src=twsrc%5Etfw">@WalrusProtocol</a> are taking part in the <a href="https://twitter.com/hashtag/EthSofia?src=hash&amp;ref_src=twsrc%5Etfw">#EthSofia</a> Hackathon! Prepare for an engaging showcase of Walrus’s potential and its impact on the future of decentralized storage!</p>
<p> Join us at <a href="https://twitter.com/hashtag/SuiConnect?src=hash&amp;ref_src=twsrc%5Etfw">#SuiConnect</a>: EthSofia for networking, drinks, and a great atmosphere.</p>
<p>Don’t miss out…</p>
<p>— Sui (@SuiNetwork) <a href="https://twitter.com/SuiNetwork/status/1846441698261598451?ref_src=twsrc%5Etfw">October 16, 2024</a></p></blockquote>

<p>The project also reported that it reached another significant DeFi milestone, exceeding 21 billion in volume through its network's DEXes.</p>
<h2>Sui Price Prediction</h2>
<p>After experiencing a downturn over the past day, SUI appears to have hit a low at $2. Following this, there have been indications of recovery, though traders currently remain hesitant to capitalize on the recent drop to acquire the token at a more favorable price.</p>
<p>Recent movements of SUI’s Bollinger bands show a significant constriction, but there are now signs of them expanding again, potentially indicating a stronger recovery in the near future. Its price briefly moved from the lower band to the upper band, slightly widening the gap between them before retracting to the midpoint in search of stability.</p>
<p>This behavior should not be interpreted as a solid bullish indication, yet it is certainly more encouraging than ongoing price decreases.</p>
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<p>The RSI for the project indicates a slight uptick in bullish activity over the last few hours compared to previous trends. Over the past two days, the RSI fluctuated around the neutral zone, dipping to 40 and peaking above 60.</p>
<p>However, in the past 24 hours, it entered the oversold area, followed by a recovery bringing it back to the 50 mark. Earlier today, the RSI rose back to 60, but the price only reached $2.05 before falling again.</p>
<p>At this point, many traders are likely awaiting the resolution of the insider trading allegations associated with SUI or any new developments. In essence, traders seem poised to see what unfolds before making their next moves.</p>
<h2>Promising Alternative To Sui</h2>
<p>Given the uncertainties surrounding Sui, investors may want to explore the new presale Flockerz (FLOCK), which has introduced an innovative Vote-To-Earn (V2E) model for its token.</p>
<p>This model encourages investor participation in project governance and decision-making. While the concept of governance participation has existed in the crypto sphere for years, many users have become indifferent to involvement.</p>
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<p>Flockerz is creating incentives for its community to participate, rewarding holders who vote on essential decisions.</p>
<p>This commitment to decentralization has inspired many to take part in the project’s presale and acquire its native token, FLOCK.</p>
<p>Another appealing aspect attracting investors is the token’s staking yield, boasting an impressive 2,351% annually.</p>
<p>Popular YouTuber ClayBro, with over 130k subscribers, claims that the excitement and demand surrounding the project could lead to 100x gains post-launch.</p>
<noscript></noscript>
<p>In terms of its presale, Flockerz has successfully raised over $733k, with the token currently priced at just $0.005793. Purchases can be made using ETH, USDT, BNB, or credit/debit cards.</p>
<p>With a price increase anticipated in less than 3 days, act quickly to secure the best investment.</p>
<p>Visit the official FLOCK website here.</p>
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