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Sui’s native token SUI jumped to $1.61, leading a mini-rally among high-beta altcoins like PENGU (to $0.01172) and HYPE (up 0.91 to $34.54), as Bitcoin’s steady climb above $87,000 hinted at easing macro pressures, but these gains are coming on the back of a brutal 2025 backdrop where SUI remains 68%, still below its November peak.
The move follows Bitcoin’s 0.25% rise to $87,604, with SUI’s surge driven by fresh on-chain activity. Sui’s network has recently seen its monthly DEX volume hit $1.2 billion, with daily activity yesterday driving a 45% week-over-week increase, fueled by integrations like Navi Protocol’s new lending pools. PENGU, the penguin-themed memecoin on Solana, rode meme momentum with whale buys totaling 500 million tokens, while HYPE, which is tied to Hyperliquid’s perpetuals, benefited from renewed leverage interest as funding rates flipped positive.
Milk Road’s analysis described the rally as a “reality check.” Writing on X, they posited that while December 3’s broader crypto pump lifted sentiment, SUI’s 31% gain could only do so much to mask a year-to-date bloodbath, down 62% from January highs amid general altcoin underperformance.
BIG NEWS FOR $SUI HOLDERS:
Along with yesterday's broader crypto pump…$SUI rose a total of 31%. (image 1)
But here’s the reality check:
Even after that jump, $SUI is still down 68% from its peak. (image 2)
This is a brutal reminder of how tough 2025 has been for altcoins.… pic.twitter.com/UPVxagGgty
— Milk Road (@MilkRoad) December 3, 2025
Altcoins typically do not move in a vacuum, and SUI is no exception. Bitcoin’s slow but steady recovery above $87,000 has reignited risk appetite across the market, giving smaller tokens room to run.
Amongst other things, the development could have been inspired by Coinbase’s recent announcement that it will now allow SUI trading for New York residents, one of the most restrictive U.S. jurisdictions, delivered a clear institutional green light. Access to the New York market typically unlocks significant liquidity and retail inflows, giving SUI an extra tailwind on top of the general recovery sentiment.
Sui (SUI) is now available to New York residents on coinbase․com & in the Coinbase iOS & Android apps.
— Coinbase Markets 🛡️ (@CoinbaseMarkets) December 1, 2025
For SUI holders, the takeaway is clear. While the token is indeed showing resilience and real fundamental momentum, its trajectory remains tightly linked to the health of the overall crypto market. Until Bitcoin decisively breaks higher, altcoin surges like this one might be staying on borrowed time.
For altcoin traders, this bounce will test resolve. SUI’s RSI at 65 could be signs of overbought territory, but breaking $2.50 could target $3.20 resistance. PENGU and HYPE, with thinner liquidity runs the risk of sharper reversals if BTC falters.
Bitcoin traded at $87,604 on December 4, up 0.25%.
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