Sushiswap is an automated market maker( AMM) which is very popular among crypto users. It was launched as a fork of Uniswap in 2020 with an aim to add additional features in the existing protocol. Sushiswap platform requires no registration to trade over 400 tokens. It has a liquidity of over $503 Million with a total of 41.5k trading pairs. Sushiswap was founded by pseudonymous people and the project also saw a great interest from Sam Bankman Fried.
SUSHI token has a total holder of 115878 which can see an increase in the future. SUSHI token unique senders and receivers has seen a slight surge in the past few weeks. Sushiswap has a TVL of $377 Million which has seen a decline from the highs of $2 Billion in 2022. The revenue of the protocol has also observed decline as per defilama. The median APY of the SUSHI is near 2.4% with $20.691 Million in staking.
Sushiswap has a market cap of $170 Million and is ranked 150th in the CMC. The volume of SUSHI tokens declined by 10% intraday. The V/M ratio of the asset price suggests a consolidation in price.
Will SUSHI Price See a Rebound Soon?
The weekly technical chart of Sushiswap suggests a consolidated trend in price. On the daily chart it is trading near the value of $0.754 with a small drop in the intraday session. SUSHI token is currently looking to make a recovery on the daily chart. The upside momentum of SUSHI can see a halt near the value of $0.80. Meanwhile, in a downside momentum the asset price can see a bounceback from $0.7. It is currently trading below the 50 and 100 Daily Moving Averages. There can be a negative crossover in the future which can push the price down.
The RSI of SUSHI is near 32 suggesting its presence in the oversold zone. There is a positive slope in it hinting towards a weak upside momentum in price.
Summary
Sushiswap has been seeing a decline in the user activity along with the TVL. SUSHI token is currently in a bearish mode but can see a new high in the future.
ລະດັບເຕັກນິກ
ການສະ ໜັບ ສະ ໜູນ ຫຼັກ: $ 0.7
ການຕໍ່ຕ້ານທີ່ ສຳ ຄັນ: 0.8 $
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Source: https://www.thecoinrepublic.com/2023/06/09/sushi-swap-token-price-declines-17-in-a-month-will-it-continue/