$SUI WARNING: pump then dumpNYSE:SUI is experiencing a significant pump due to BlackRock's announcement of a specific NYSE:SUI trust fund. However, on August 3rd (and on the 3rd of every month until January 2025), NYSE:SUI will undergo a large token unlock for their Series B and C investors.
The concern is that there was no immediate impact from this token unlock, suggesting that the VCs may be waiting for retail investors to FOMO into NYSE:SUI following the BlackRock announcement before they dump their coins.
Once the FOMO cools down, it's likely that the VCs will sell, which could cause the price to drop.
NYSE:SUI is currently in a downtrend, forming a falling wedge pattern due to the monthly token unlocks that began in July 2024. The upcoming inflation will be difficult for the market to absorb. The token unlocks will slow down in January 2025.
DYOR
