🔵 $SUI ’s $22 dream: Raoul Pal sees a ‘top 5’ path for the ‘Solana killer’

Sui [SUI] had a mixed performance in H1 2025, but could still become a top-five performer in 2025, according to Raoul Pal, Founder and CEO of Real Vision. 

The ‘Solana killer’ topped $5 early in January, but the Q1 headwinds dragged it to a 44% loss. In Q2, however, the altcoin recovered 17%, and Pal expects even more gains in H2. 

In an X post, Pal projected that the altcoin could hover above $2.2, a key support in April 2025 that was a previous resistance in 2024.

He highlighted that, in the long run, the altcoin would consolidate below $3.5 before a potential breakout if BTC prints a new ATH. 

“My view is that as BTC breaks ATH’s this begins to outperform again and will remain in the top 5 majors in performance in this cycle.”

🔸 A dream or delayed potential?

In fact, CoinGecko chimed in on the conversation with a stat that stirred curiosity. It shared that if SUI hit Solana’s [SOL] market cap of $77B, then the altcoin could be valued at $22.9 — a whopping 8x.

While that’s an optimistic projection, the real-time SUI/SOL ratio tells a different story.

The altcoin outperformed SOL by 56% in late April, but lagged later in Q2. Since May, SUI has underperformed SOL by 26%. Put differently, investors were better off holding SOL than SUI late in Q3. 

The weakening could extend for a few weeks before a potential rebound if the ratio defends 0.016. If that happens, then the altcoin could outperform SOL by 56% again.  

That said, the ratio is hovering near its critical support at 0.0158. If this level holds, traders could see another 50%+ rebound in SUI/SOL pair performance.

🔸 DeFi boom, then bust

Sui’s Q2 recovery wasn’t just narrative-driven — part of the strong recovery was aided by the chain’s DeFi traction.

In April, Sui’s monthly DEX volume hit $11 billion, up from March’s $7 billion. This coincided with broader market recovery and memecoin mania across the Sui DeFi ecosystem. 

#SUI #SUInetwork