SUI DID THE UNTHINKABLE! (BUY 500 SUI NOW OR WAIT?)

My Financial Friend

Introduction to Suey

Suey has been on an absolute rampage, with its price reaching $5.22, a 18-19% increase in the last day. It is the best performer in the crypto market.

Reasons for Suey's Success

There are a couple of reasons why Suey is doing so well:

  • A survey of Salana founders showed that many of them prefer Suey as their alternative layer one blockchain of choice.
  • Phantom is integrating Suey blockchain, which could be a reason for the increased interest in Suey.
  • The FTX repayment started yesterday, which could lead to some investors putting their money into Suey.

Comparison to Solana

Suey's market cap is currently at $15.7 billion, which is relatively small compared to Solana's market cap. However, Solana's price has been volatile in the past, with a 64.3% drop from $56 to $20, followed by a 1,200% increase to $260.

Future Prospects

The host believes that Suey still has further to run, and that Bitcoin's potential growth could lead to a bull run in altcoins. However, it's essential to be cautious and not invest too much at high prices.

Investment Strategy

The host suggests:

  • Dollar-cost averaging into Suey to reduce risk.
  • Setting up a plan and not investing lump sums.
  • Trading Suey with a stop loss to manage risk.
  • Waiting for pullbacks before investing.

Personal Experience

The host has been trading Suey and has made significant gains. They suggest being cautious and not investing too much at high prices.

Conclusion

Suey is a volatile but potentially lucrative investment. It's essential to do your own research, set up a plan, and manage risk to avoid significant losses.