SUKU's Potential BreakoutSUKU is on the brink of breaking out from its falling wedge on the 4-hour chart, targeting the golden Fibonacci range between $0.23 and $0.26. Historically, SUKU hit the $1 mark twice during the crypto bull runs of 2021 and 2022. The recent launch of SukuPay, a decentralized digital wallet that allows users in over 150 countries to transact using just their phone numbers, fuels optimism for reaching these heights again.
Altcoin seasons often start a few months after Bitcoin halving events, suggesting possible gains by year's end.
Nonetheless, there's a notable risk: one entity holds 85% of the circulating supply, as recorded on Etherscan. Despite this concentration, no significant sell-offs occurred from this entity during prior peaks when the token value approached $1.5. This stability implies that major stakeholders, potentially including CEO Yonathan Lapchik and CTO Lucas Henning, are in for the long haul. Given the gradual adoption of Web3.0—seen as the next big phase in tech trends after NFTs, the Metaverse, meme coins, and AI—SUKU's potential to reach a market cap of 500 million, a 20-fold increase from its current valuation appears promising.
