Sui Network is Going to Zero as SUI Price Drops 10% But This New Meme Coin Just Hit $800,000 – How to Buy Early?

cryptonews.com:

Upcoming Layer-1 Solana-rival Sui Network has endured 3-months of downside price moves, as the emerging Mysten Labs blockchain struggles to gain a foothold in price action.

Early backers of the Sui Network altcoin have faced a tumultuous -58% bleed-out in the value of native SUI token since launch on May 3.

Despite the appeal of a new layer-1 ecosystem utilising Move programming and horizontal scaling, the price of SUI is currently trading at $0.6225 (marking a 24 hour change of -2.1%).

This comes as price action appears caught in a cascading pattern, with a MoM -9% mirroring the struggle to gain support from the descendant 20DMA.

Worse still SUI appears now to be falling away from the 20DMA resistance, the last time this happened SUI saw a -12% retracement, suggesting an extension of downside moves could be on the cards.

There is some relief to be found in SUI's indicators, rejection from the upper trendline on July 18 saw SUI's overheated RSI rapidly cool off.

With the RSI indicator now spotlighting a significant oversold signal at 35, there could now be the capacity for a return to the upside.

Although this bullish divergence is tempered when considered alongside the MACD which continues to showcase bearish divergence at -0.0026.

This leaves SUI with a tough risk: reward profile, with upside potential limited by the 20DMA (around $0.675 or +8.5%), and downside risk significant at lower support around $0.5 (-19.8%).

Yet, while SUI appears to be entering downside price exploration, smart capital has already begun rotating to the next lucrative play and an unlikely off-shoot project has emerged as a strong contender.

As DEX traders continue to chase the next skyrocket, the Evil Pepe Coin ($EVILPEPE) stands out not as a mere