Sui Eyes $1.11 Target Supported by Alkimi Adoption
What to Know
- Sui jumped 6.83% to $1.05, outperforming Bitcoin’s 2.96% gain in the last 24 hours.
- Advertising platform Alkimi uses Sui to bring transparency to digital ad spending.
- If SUI holds above $1 support, analysts say the next potential target is $1.11.
The price of Sui has climbed sharply over the past 24 hours, rising 6.83% to around $1.05. The gain puts Sui ahead of Bitcoin, which recorded a 2.96% increase during the same period. The latest rally appears to be driven by a mix of positive ecosystem news and strong trading activity, with analysts pointing to a potential move toward $1.11 in the near term if key support levels hold.
Alkimi Adoption
A major factor behind Sui’s recent rise is news involving the decentralized advertising platform Alkimi. The platform uses Sui’s blockchain technology to bring transparency to the digital advertising industry, which has long faced issues such as hidden fees and fraud.
Digital advertising is a massive global market, but it also struggles with inefficiencies. According to Alkimi CEO Ben Putley, advertising intermediaries can take between 40% and 80% of the money spent on campaigns. This means brands often lose a large portion of their budgets before ads even reach their target audience. “The marketplace is largely opaque,” Putley explained, noting that brands can sometimes pay for ad views that were never actually seen by users. To address this issue, Alkimi records campaign data on Sui’s open and tamper-proof ledger, allowing both advertisers and publishers to track where advertising budgets are going in real time.
The platform is already used by major global brands, including Coca-Cola, Dell, Cathay Pacific, Meta, Sky, Bupa, PayPal, TikTok, and American Express. By using blockchain infrastructure, Alkimi aims to create a system where every click, impression, and transaction can be verified. This approach could reduce fraud and ensure that advertisers get better value from their marketing budgets. The platform processes more than 25 million ad impressions every day and has reportedly handled over 3.5 billion transactions so far, showing that Sui’s infrastructure is already being used at a meaningful scale.
SUI Price Breakout
After this positive ecosystem news, Sui experienced a technical breakout in the market. The token recently moved back above the important $1 price level and crossed above its 7-day and 30-day moving averages, both located near $0.934. This breakout was supported by a strong surge in activity. Trading volume jumped 34.8% in the last 24 hours, reaching about $663.6 million. However, indicators also show that the rally could slow if buying momentum fades. The 7-day RSI is currently around 65.62, approaching levels that sometimes signal a market may be temporarily overbought. At the time of writing, SUI is trading at around $1.04.
According to CryptoNewsZ, just yesterday, Sui has been challenging the $1 resistance level after breaking out of a month-long consolidation pattern. For several weeks, the token traded within a symmetrical triangle pattern, where prices moved between two converging trendlines. This pattern usually signals that a strong move may follow once the price breaks out. Sui recently managed to reclaim its 20-day exponential moving average, which analysts see as an early sign that the recovery trend may be returning.
Conclusion
Sui’s recent rally appears to be supported by both real-world adoption and improving market structure. The integration with Alkimi highlights how blockchain technology can solve practical problems in industries like advertising. At the same time, the token’s breakout above key levels and rising trading volume indicate growing market interest.
The main question now is whether SUI can hold above the $1 level. If it does, the path toward $1.11 and possibly higher levels could open, but a drop below key support may trigger a short-term pullback.
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