Everyone wrote off
$SUSHI after the DeFi boom ended—but that might be a mistake. Beneath the silence, SushiSwap has been rebuilding. The project that once forked Uniswap has evolved into a multi-chain liquidity hub, stretching across Ethereum, Arbitrum, Polygon, and even emerging L2s. While hype coins dominate headlines, Sushi’s strategy has turned quiet and technical—and that’s exactly how real recoveries begin.
Here’s the logic: Sushi’s tokenomics were broken in the past—too much inflation, not enough trading volume to sustain the buyback. But governance has been tightening emissions, cutting wasteful liquidity mining, and focusing on protocol revenue. The xSUSHI model, where holders earn a share of trading fees, starts to matter again when market volume returns. Even a moderate recovery in on-chain activity could reprice SUSHI dramatically because its circulating supply has mostly stabilized while Uniswap’s dominance is flattening.
There’s also a psychological angle. Traders crave narratives, and “DeFi revival” is the next big one after AI and memecoins fade. As Bitcoin’s rally matures, liquidity usually flows down the risk ladder—from majors to DeFi protocols. If Sushi regains just 5% of Uniswap’s current volume, SUSHI could see a 2-3× revaluation without speculative mania.
Still, it’s not risk-free. If volumes stay low or competitors out-innovate Sushi’s UX, the token remains a slow bleed. But the fundamentals are stronger than in 2021, and the market is underpricing that resilience. My prediction: SUSHI trades quietly under $2 now, but a DeFi rotation wave could push it toward $4–5 in the next major liquidity cycle. Not hype—just the math of survival meeting timing.
#sushi