Can This SUI Coin Go Up By 1000%??

Imagine you are going to invest in an existing fast-food franchise. You have two choices: You can choose a franchise in a large metro area. We’ll call it Solanaville, which has a large population. Investing in a franchise in Solanaville provides many fast-food customers with gigantic waistlines. However, competition keeps growing in Solanaville, and thousands of new restaurants have been opening.

The other option is to invest in a franchise in a city experiencing tremendous growth. We’ll call it Suitown. There are other fast-food franchises in Suitown, but none are too big. While the population in Suitown is growing, it’s not nearly as large as Solanaville.

The biggest franchise in Solanaville has 180,000 monthly customers, while Suitown’s biggest franchise has 2,000 monthly customers. The Suitown population isn’t full of fast-food fanatics, but you notice that more and more fast-food eaters are moving in. A $100,000 investment in the Solanaville franchise will get you 0.06% ownership, and the same investment will entitle you to 6.25% ownership in the Suitown franchise.

On the one hand, the Solanaville restaurant has a track record, full infrastructure, and plenty of customers and other investors. On the other hand, the Suitown franchise is riskier, but it opens you up to incredible growth potential if things continue on the same trajectory. Which do you invest in?

If you would invest in the second option, the franchise in Suitown, continue reading this article. If you would rather invest in the established restaurant in Solanaville, this article probably isn’t suited for you.

What is this fast food restaurant, and why am I investing in it?

Suppose you haven’t understood my parallels yet. My metaphor above compares investing in a large cap memecoin asset on Solana, such as BONK or WIF, to opening a less established and lower market memecoin on Sui.

The memecoin I am referring to on Sui is BLUB. I will explain why I’m speculating on BLUB and where and how to buy it. Before I begin, this is a high-risk strategy that could easily result in a complete loss of funds. Alternatively, it could become a blue-chip memecoin and increase by thousands of percent.

Why I’m buying BLUB 
During the last crypto cycle, I didn’t buy any memecoins. This cycle, I’m not making the same mistake. Memecoins go up in value, and making a profit is my primary goal when investing in crypto. I’ve recently seen a downturn in my blue-chip memecoins (mostly in BRETT, WIF, and PEPE), but I am optimistic they will return to glory when crypto heats up again.

I was lucky enough to dodge the Pump.fun scamcoins, and I recognize that a lot of the liquidity in the memecoin space has been sucked out by these dodgy projects.

One place experiencing an increase in liquidity is the Sui blockchain. If you want to learn why I’m bullish on Sui, I’ll refer you to my article "Fundamentals & Hype on This Altcoin Is Screaming Buy" from last month.

I’ve researched many DeFi projects on Sui, which are all kind of ‘meh.’ I bought some of the Navi Protocol token NAVX months ago, but it has underperformed SUI, and the projects I find intriguing don’t have a token yet.

NFT sales volume is low on Sui. This could be an opportunity for tremendous profit, but outside of Ordinals, I’m not willing to buy any NFTs today.

That leaves us with memecoins. A new memecoin leader has emerged on Sui over the past few weeks. BLUB has seen a 5X increase in the past month, now trading at a $16M market cap at the time of writing. Sui doesn’t have a BRETT, PEPE, or WIF, and I’m speculating that BLUB can fill this spot on Sui.

And, going back to my fast-food example, the number of active accounts on Sui is skyrocketing—over 2 million active accounts in a day!

BLUB has around 2,000 holders who own the equivalent of $100 or more worth of BLUB. If some of the 2 million active accounts decide to buy a memecoin, BLUB is the best option. And this is reflected in trading volume.

The table below shows the on-chain trading volume of the Sui network. I circled the trading volume in orange, and we can see that over $1 million worth of volume has occurred in the past 24 hours. In blue, I’ve circled the liquidity, and we can see that it’s very deep for a memecoin with a $16M market cap.

The second most traded memecoin is FUD, which has about $150K in volume and $600K in liquidity.

More active accounts on the Sui network, few competing memecoins, deep liquidity, high trading volume, and many holders convinced me to add a bag of BLUB to my speculative portfolio.

Where I bought BLUB

If you want to invest on-chain on the Sui network, you need a Sui wallet. The one I’ve used is https://suiwallet.com/. It’s great because you can set up the wallet with email credentials if you don’t feel like dealing with the whole seed phrase trouble. Also, it has an intuitive and user-friendly mobile app.

While you can bridge onto Sui from Ethereum, the current option is the Portal bridge, and it sucks. Sui does have a native bridge in testnet, and I’m eagerly awaiting its mainnet launch as the Portal bridge is flaming garbage.

The easiest option is to buy SUI on an exchange and send it to your wallet. Once you have it in your wallet, you can trade for BLUB easily on https://app.turbos.finance/#/trade or https://app.cetus.zone/swap. BLUB is already listed on both dexes.

BLUB isn’t listed on Coinmarketcap.com yet, but it has a listing on Coingecko: https://www.coingecko.com/en/coins/blub. The project also has a Twitter-https://x.com/blubsui and a Telegram- https://t.me/blubsui.

Risks and Rewards with BLUB

Like any memecoin, BLUB can go to zero. Also, like most memecoins, there’s a large concentration in some wallets, and if these holders decide to sell, the price can fall apart.

There can also be an unlimited number of memecoin competitors, and simply because BLUB is the first to market with a relatively sizable market cap, it doesn’t mean another group won’t create a competitor.

As mentioned, I like the deep liquidity and the positive price action on SUI. I hope SUI’s performance draws more people into the ecosystem and that some are degens looking for exposure to memecoins. I’ve spent a lot of time in different on-chain ecosystems, and Sui has been one of my best experiences. It’s fast, cheap, and easy to use.

With a $16M market cap, BLUB could go astronomically higher. WIF has a $1.5B market cap which is 93 times higher. I doubt BLUB will go this high, but imagine if it does.

Key Takeaways

Does it make sense to purchase memecoins today? Will ordinary retail come back to crypto? If they do, will they embrace new chains like Sui or tread in existing ecosystems like Ethereum and Solana? Unfortunately, I can’t answer these questions.

Here’s what I do know

• Memecoins are a proven crypto asset class.

• The Sui network is getting significant attention now, and I can see this continuing.

• If the metrics for account use and trade volume continue, BLUB could be a major beneficiary, especially in an ecosystem where other projects with tokens are copycats.

Clap if this could be a good speculative play. If you disagree, let me know why in the comments.

I own several of the crypto assets mentioned in this article —SUI, NAVX, BLUB, WIF, PEPE, and BRETT. This information should not be taken as investment advice. I am no more qualified to give financial advice than to build Ping Pong tables for royalty. Digital assets like crypto and NFTs involve risk, so you should always perform due diligence before investing. Lending platforms also add more risk; users should research and understand the risks before using them.

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