As the second quarter closed yesterday, XRP’s on-chain activity flashed a bearish signal for holders. The token saw a sharp uptick in the movement of dormant tokens, a trend that signals one thing: distribution.
When long-held coins suddenly become active, it suggests that long-term holders (LTHs) are offloading their assets, possibly in anticipation of downside risks. The question now is whether these holders foresee further declines as Q3 begins.
Dormant XRP Tokens Wake Up — Is a Sell-Off Incoming?
According to on-chain data provider Santiment, XRP’s Dormant Circulation (90 days) metric surged to 387.19 million on Monday, the highest level in three weeks.
This metric tracks the total volume of tokens that had previously remained inactive for at least 90 days but suddenly moved within a 24-hour period. Such a sharp increase signals that LTHs are moving their tokens.
Historically, spikes in dormant circulation have indicated seasoned holders exiting positions, either to take profit or avoid potential losses. This trend therefore puts XRP at risk of noting declines.
Further, after a steady decline that began on June 5, XRP’s Liveliness suddenly reversed course yesterday, climbing to 0.809.
Liveliness measures the movement of long-held tokens by calculating the ratio of coin days destroyed to the total coin days accumulated. When it declines, it indicates that LTHs are moving their assets off exchanges and opting to hold.
Converesly, when it climbs, it suggests that more dormant tokens are being moved or sold, signaling profit-taking by XRP LTHs.
XRP Faces Bearish Pressure as Sellers Take Control
On the daily chart, XRP’s negative Balance of Power (BoP) supports this bearish outlook. At press time, this momentum indicator is at -0.62.
The BoP indicator measures the strength between buyers and sellers by comparing price movements within a given period. When it turns negative, sellers are dominating the market, hinting at a potential downtrend.
SUI blockchain has been gaining traction in recent weeks, and its market cap is now approaching $7 billion. Fueled by meme coin activity and rising DeFi engagement, the network has seen a notable jump in DEX volume and technical momentum.
While indicators like RSI and EMA lines show early signs of a potential trend shift, overall strength remains mixed. SUI sits at a key crossroads—supported by short-term excitement but still needing stronger confirmation to challenge top-tier chains.
SUI Surges to 5th in DEX Volume, But Still Trails Top Chains
SUI’s recent surge in DEX activity has grabbed attention, largely fueled by growing interest in meme coins and speculative trading on its ecosystem. Over the past seven days, SUI’s DEX volume hit $2.1 billion, marking a 4.49% increase and continuing its steady upward trend.
This momentum has helped SUI outperform other ecosystems, most notably surpassing Arbitrum in the past 24 hours to become the fifth-largest chain by DEX volume.
However, despite the short-term gains, SUI still trails well behind top-tier networks like Base, BNB Chain, Ethereum, and Solana in total DEX activity.
Chains Sorted By DEX Volume In The Last 24 Hours. Source: DeFiLlama.
These established ecosystems continue to dominate in terms of liquidity, user base, and overall transaction volume.
While SUI’s rise is notable, especially given its relatively new position in the DeFi ecosystem, it will need to sustain this growth and diversify beyond meme coin hype to truly challenge the leading players.
For now, it remains an exciting underdog with momentum—but not yet a major contender.
SUI Momentum Rebuilds, But Trend Remains Weak
SUI’s RSI is now at 51.86, up from 35.22 just three days ago. This suggests buying pressure has returned after a short-term dip, helping stabilize price action.
The Relative Strength Index (RSI) measures momentum on a scale from 0 to 100. Readings above 70 are considered overbought, while those below 30 indicate oversold conditions.
Sitting near the midpoint, SUI’s RSI points to neutral momentum. It hasn’t crossed above 70 in almost a month, showing that bullish strength has remained limited.
Meanwhile, SUI’s DMI (Directional Movement Index) shows that its ADX is down to 9 from 14.79 just two days ago. The ADX measures trend strength, and anything below 20 signals a weak or nonexistent trend.
The +DI is at 15.83 while the -DI is at 13.15, meaning buyers have a slight edge—but the low ADX suggests that edge isn’t strong. There’s no clear trend dominating the market right now.
Together, the RSI and DMI suggest that SUI is in a consolidation phase. Buyers are showing some activity, but not enough to build a strong, sustained trend—at least for now.
EMA Setup Still Bearish, But SUI Bulls Show Signs of Life
SUI’s EMA lines are still showing a bearish setup, with short-term averages sitting below the long-term ones. However, the gap between them has narrowed, and a potential golden cross may be forming.
A golden cross occurs when a short-term EMA crosses above a long-term one, often seen as a bullish signal. If this plays out, SUI could gain momentum and push toward the $2.28 resistance level.
Breaking above that could open the path toward $2.41 and $2.54. If bullish momentum builds further, SUI blockchain could even test the $2.83 level—its highest since early March.
But if the market fails to hold current levels and selling pressure returns, a correction could begin. In that case, it might fall back to test the $2.02 support.
Losing that support could bring deeper downside, potentially pushing SUI toward $1.71. For now, price action is at a critical point, with both breakout and breakdown scenarios on the table.
SUI meme coins are gaining major traction as the SUI ecosystem continues to strengthen. SUI DEX volume has surged to $3.8 billion over the past seven days, up 74%, making it the fifth-largest chain by decentralized trading volume and surpassing Arbitrum.
As interest in SUI grows, top meme coins like Sonic Snipe Bot (SONIC), LOFI, MEMEFI, MIU, and Fud the Pug (FUD) are showing a mix of strong momentum and key technical tests. The next few days could be crucial in deciding which tokens emerge as leaders in the fast-growing SUI meme coin space.
Sonic Snipe Bot (SONIC)
Sonic Snipe Bot is an automated trading tool built for lightning-fast trade executions. It is fully integrated into the Telegram application and stands out by offering support for 31 blockchain networks, including Sui, Ton, Injective, Solana, and Tron.
Sonic Snipe Bot also supports all major bonding curves, such as Movepump on Sui, making it a flexible and powerful option for traders looking to operate across multiple ecosystems without leaving Telegram.
Over the past seven days, SONIC, the native token tied to the bot, has surged by 27%, pushing its market cap to approximately $1.7 million. If positive momentum continues, SONIC could rise above the $0.40 mark and potentially challenge the $0.426 level.
However, if the trend reverses and selling pressure builds, the token could fall back toward $0.29, and in a stronger downtrend, even $0.24 could be tested.
LOFI
LOFI is one of the biggest meme coins on the SUI blockchain, built around the theme of a Yeti character. Despite its strong brand and visibility, LOFI stands out for a less positive reason this week—it is the only token among the top 10 SUI meme coins that is down over the past seven days.
This relative underperformance could indicate weakening investor interest compared to its peers, or it could present a potential rebound opportunity if sentiment around SUI meme coins remains strong overall.
LOFI continues its push to become one of the most recognized meme projects on the SUI blockchain. If momentum recovers, LOFI could rise above the $0.045 mark and potentially challenge $0.054 in an extended rally.
However, the $0.030 support level remains critical. A break below this zone could trigger a steeper decline toward $0.0158, and if selling pressure accelerates, even $0.0055 could be tested.
MemeFi (MEMEFI)
MEMEFI is a Telegram-based game and Web3 meme universe that claims to have more than 50 million players worldwide. It has quickly climbed the ranks and is now the second-largest SUI meme coin by market cap, currently at $35 million.
This marks a sharp pullback from its peak of $51 million reached just yesterday, reflecting the recent correction underway.
Despite the decline, MEMEFI is still up an impressive 353% over the past seven days.
If MEMEFI can regain its bullish momentum, it could first aim to break above the resistance at $0.0037. A successful breakout would open the path toward $0.0053, potentially extending its rally.
However, if the ongoing correction deepens, the first major support to watch is at $0.0026. A break below that could push the price further to $0.00185; if selling pressure intensifies, even $0.00143 could come into play.
MIU
MIU is currently the biggest meme coin on the SUI network, boasting a market cap of $68 million. Its price has climbed 16.7% over the past seven days, reinforcing its leadership position within the growing SUI meme coin ecosystem.
MIU is by far the largest meme coin in this space, with no close competitors matching its size or visibility. As the broader SUI ecosystem gains momentum and attracts more attention, MIU could continue to benefit from the overall surge in interest.
As the dominant player, it stands in a strong position to ride the next wave of growth if the trend across SUI meme coins remains positive.
If the positive momentum around MIU continues, the token could rise to test the $0.000000080 level, marking a new short-term target.
However, if the trend weakens and selling pressure emerges, MIU could first fall toward support at $0.0000000689. A deeper correction could even push the price down to $0.0000000599.
Fud the Pug (FUD)
This one is another meme coin aiming to carve out a leading spot in the growing SUI meme coin ecosystem. FUD currently holds a market cap of $3.8 million, down from its peak of $5.9 million just two days ago.
Despite a nearly 5% drop over the last 24 hours, FUD remains up an impressive 41% over the past seven days, highlighting strong underlying momentum.
Technically, FUD recently tested the support level at $0.0000000634. If this level is tested again and fails to hold, the next downside target would be around $0.000000050.
On the upside, if the current pullback stabilizes and momentum returns, FUD could rise to challenge resistance at $0.000000075. A breakout above that could pave the way for a push toward $0.00000010.
With dog-based meme coins often attracting outsized attention and hype, FUD could have a strong chance to expand its market presence if broader interest in SUI meme coins continues to grow.
