Date: Sat, June 28, 2025 | 03:18 PM GMT
The cryptocurrency market is making a steady recovery as tensions between Israel and Iran ease. Ethereum (ETH) has rebounded sharply, jumping from its recent low of $2,113 to climb near the $2,425 level. Riding this renewed momentum, memecoins are also bouncing — including Pudgy Penguins (PENGU).
PENGU is currently showing impressive daily gains of 22% following a key technical breakout. Now, the Layer 1 token SUI is showing signs it may be next in line for a similar move.
Source: Coinmarketcap
SUI Mirrors PENGU’s Breakout Setup
A side-by-side comparison on the 4-hour chart reveals a striking similarity between PENGU’s recent rally and SUI’s current setup. PENGU recently broke out from its falling wedge pattern while reclaiming both the 100-day and 200-day moving averages. That move ignited a powerful 26% rally in just a short time.
Now, SUI seems to be following the same script. The token is testing the upper resistance of its own falling wedge pattern while hovering just below the 100-day MA — the same stage PENGU was in before its breakout. The visual resemblance suggests a fractal formation in play, hinting at a potential breakout ahead.
What’s Next for SUI?
If SUI successfully follows through with the setup and breaks out above the wedge resistance and the 100-day moving average, it could quickly aim for the 200-day MA next. A move above that could open the door toward $3.53 — the next major resistance — representing a potential 27% rally from current levels.
However, if the $2.55 support level fails to hold, this could invalidate the bullish structure, possibly leading to further downside or a delayed breakout scenario.
