The cryptocurrency SUI encountered an unexpected crisis when its price fell by 8% due to network issues. While investors assess the situation, some projects like Pepe Unchained are gaining momentum.
SUI Hit a Low Point
The SUI cryptocurrency is experiencing a significant price drop, with the price standing at $3.40 as of 7:08 EST. The price decline is attributed to disruptions in the Sui network, which has not processed blocks for over an hour. As a result, investors have started unloading their assets in this network.
Early Bullish Technical Signs for SUI
Technical analysis shows that although sellers dominate the market, signs indicate a potential shift towards buyers. Indices like RSI suggest a possible shift in power in favor of buyers, while rising MACD indicators on the SUI/USD 4-hour chart underline this trend.
Pepe Unchained: A New Meme Coin on the Horizon
Amidst SUI uncertainty, new meme cryptocurrency Pepe Unchained (PEPU) garners the interest of some investors. The project focuses on fast transactions and fee reduction, creating its ecosystem based on the second version of the blockchain. PEPU aims to carve out its niche in the cryptocurrency market, already raising $40 million through its ICO.
The current situation with SUI underscores the volatility of the cryptocurrency market, while new projects like Pepe Unchained continue to emerge, offering fresh solutions with more stable technologies.
