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In the last few days on the crypto markets there have not only been crashes, in particular the price trends of SUI, ZEC (Zcash), and some memecoins have been interesting.
Summary
The trend of the price of SUI
SUI is the native cryptocurrency of the blockchain with the same name.
After losing 46% from July 22 to August 5, it recorded a significant rebound.
In fact, the current price of about $0.94 is 100% higher than the bottom of just over ten days ago, and the day before yesterday, for a brief moment, it even rose above $1.1.
However, one should not get carried away by excessive enthusiasm after a +140% in a week, both because there was a slight drop in the following days, and especially because the current price is in line with that of two months ago.
The peculiarity of this movement lies mainly in the high volatility in such a short time, because it went from $0.9 on July 22 to $0.5 on August 5, then climbed back to $1.1 within a week and settled just above $0.9 yesterday.
Indeed, the current price is even in line with that of the beginning of the year, so much so that for now during the course of 2024 the market value of SUI has risen only by 20%.
Despite this, it had already shown high volatility from January to March, even reaching as high as 2.2$. In other words, from the bottom in October to the peak in 2024, it had recorded an incredible +480% in just over five months.
It is worth noting that this bullrun started from less than $0.4, so a much lower level than the current one.
Moreover, March was also the all-time high ever, although it should be noted that SUI has only existed in the crypto markets for just over a year.
The trend of the price of the crypto Zcash in comparison with SUI and other memecoins
ZEC is the native cryptocurrency of Zcash.
The trend of its prezzo recently has been decidedly different compared to that of the crypto markets.
In fact, although between August 3rd and 5th it lost 27%, it bounced back almost immediately, so much so that just two days later it had recovered everything it had lost with that crash.
Furthermore, starting from August 8, it began a small rally that led it to record a +78% from the lows of August 5, and a +36% from the closing of July.
The fact is that there are big news coming for Zcash.
It is necessary, however, to make an important clarification.
Until a few days ago, the 2024 of Zcash had been disappointing.
It had opened the year at $27, down from $33 at the end of December, and until August 7 it had not managed to exceed $35. In fact, on August 5 it had dropped to $25, and at the beginning of July it had even been below $16.
Moreover, 2023 had started at $37, so it practically had not yet recorded any significant rebound after the last bear-market.
Furthermore, the current price has only returned to the level of March last year, and it is still 64% lower than it was at the end of April 2022 before the implosion of the Terra/Luna crypto ecosystem.
The idea, therefore, is that a very long bear-market might have simply ended, provided that the news about the updates turns out to be correct and positive.
Compared to the all-time high of 2021, it is still down by 99%, so much so that there are strong doubts about its real recovery capacity.
The memecoin
The memecoin sector as a whole is not performing particularly well at the moment.
For example, the price of Dogecoin is 7% lower than it was a month ago, and that of Shiba Inu is 20% below what it was at the beginning of the year.
However, there are some exceptions.
In the very short term, the +7% of today of Popcat and Turbo stand out, but above all the +27% of Gigachad (GIGA).
The price of GIGA has not only increased by 30% in the last week, but even by 90% in the last 30 days. Compared to the beginning of the year, it is recording a remarkable +1,800%.
In the last 30 days, the incredible +1.500% of Neiro stands out, even though it is a very young memecoin. Generally, minor memecoins make a splash right at the beginning.
NPC (Non-Playable Coin) is instead recording a good +31% in the last month, but since the beginning of the year it is at +1,700%.
Finally, it is impossible not to mention Maga (TRUMP), which, however, despite still being at +1,000% since the beginning of the year, is at -60% in the last thirty days.