Sushi Price Prediction 2024-2030: Is $30 Or Higher Feasible?
Sushi is down by almost 15 percent in 2024, reversing a bullish trend that had seen its value rise by over 80 percent in the previous six months.
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SushiSwap Overview
The current drop has been a reflection of a slow start to the year by the entire cryptocurrency industry, which has also failed to continue its aggressive bullish trend of the past few months.
However, Sushi looks poised to resume the bullish trend in the coming weeks and months of 2024, partly due to the continued positive fundamentals of the cryptocurrency industry.
In most cases, the trend by other cryptocurrencies, especially Bitcoin, acts as leading indicators for where we can expect Sushi prices to trend.
In the past few days, news about the approval of Bitcoin ETF will likely impact investor sentiment positively, potentially boosting confidence in the broader cryptocurrency market, including altcoins like Sushi. This could create a favorable environment for Sushi’s price recovery and growth in 2024.
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SushiSwap 2024 Price Prediction
The approval of Bitcoin ETF, which is expected to have a positive impact on the general trend of Sushi, is not the only thing that is making Sushi attractive in 2024.
Sushi’s potential resurgence in 2024 also hinges on the advancements within the decentralized finance (DeFi) sector, where SushiSwap has established itself as a key player.
The increasing adoption of DeFi services across the financial spectrum indicates a promising future for platforms like SushiSwap.
This growing trend, coupled with SushiSwap’s continuous innovations, such as the integration of cross-chain swapping capabilities and enhanced liquidity solutions, positions Sushi favorably in the competitive DeFi landscape.
These advancements are not only expected to attract a broader user base but also enhance the platform’s utility, thereby potentially driving the value of Sushi upwards.
All these factors lead us to one conclusion: a possible bullish trend in 2024, which is likely to be higher than last yearโs 35 percent price gain.
Therefore, by the end of 2024, we expect Sushi to be trading between $1.5 and $2.
Our conservative approach to 2024 is based on the 2023 data, where Sushi failed to outperform most cryptocurrencies and ended the year below the average price gains of the markets.
For instance, compared to the total market capitalization in 2023, which gained over 110 percent, Sushi can be seen underperforming the crypto markets, a trend we expect in 2024.
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Sushi 2025 to 2030 Price Prediction
In the Monthly chart above, we can see Sushi has started the year with a 15 percent drop. The chart also shows that Sushi has traded within the $0.4 support level and $2 resistance level for almost two years, a trend that started in May 2022.
To gain a better understanding of where we expect Sushi to be trading between 2025 and 2030, its past performance is of vital importance. Fortunately, the chart above gives as a snapshot of the kind of performances we can expect with Sushi.
For instance, between November 2020 and March 2021, in a period of only four months, Sushi prices rose by more than 5000 percent, rising from $0.4 to trading above the $20 price level. This shows how aggressively bullish Sushi can become.
However, Sushi has also been shown to be very aggressive when in a bearish trend, as can be seen with the reversal of the bullish trend a few months later. The reversal saw Sushi losing most of its value, and since then, it has never recovered.
Now that we know the limits of Sushi and how it behaves in the markets, the question becomes where we expect it to be in the coming years. We now understand that Sushi can be very chaotic in the markets.
Therefore, our 2025 price prediction will have three classifications: conservative, optimistic, and aggressive. For our conservative analysis, we expect that by 2030, Sushi will be trading just slightly above the $5 price level.
This is an annual growth rate of about 30 percent per annum. The conservative analysis is informed by last yearโs Sushi price gains, which saw its price gaining 35 percent between January and the end of the year.
Best case scenario for Sushi Price Prediction 2030
Now, as for our optimistic analysis, there is a high chance that Sushi will be trading above the $10 price level. This is an annual price gain of almost 50 percent per year. The optimistic analysis is based on the possibility of Sushi mostly performing better than expected in the markets.
Now for the aggressive analysis, it is likely that, by 2030, Sushi will be trading between $30 and $50. We see the proof of this analysis on the previous 5,000 percent gain in 4 months between November 2020 and March 2021.
The aggressive analysis is realistic enough, and it will break Sushiโs all-time price level of $23. Today, despite it trading 95 percent below this level, it is still possible that we might see it returning to trade over $23 and, by 2030, be valued at over $30. In fact, our view is that this is the most likely scenario, based on the direction the cryptocurrency industry is going and the mainstreaming of decentralized exchanges.
Summary
In short, we expect Sushi to continue with the upward trend. The price it will be trading at by 2030, however, will depend on multiple factors, with the most likely scenario being that it will hit $30 by that time.
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