This year has been a tough sail for Sushi since May 2022, when the Terra/Luna implosion caused a cascade of bankruptcies, layoffs, and liquidations. Subsequently, the chain of unfortunate market and geopolitical events like the Russian invasion of Ukraine, U.S. inflation, and 3AC and Celsius insolvency, has also contributed to the downward pressure on the price of SUSHI.
With the recent massive downfall of the crypto market caused by FTX contagion, is it possible for Sushi to reclaim its all-time high in 2023? Continue with the article to learn about Sushi price analysis and prediction by Coinpaper.
What is Sushi?
SushiSwap is a decentralized cryptocurrency exchange (DEX) built on the Ethereum blockchain. It was launched in 2020 as a fork of Uniswap, another popular DEX. The platform allows users to trade various cryptocurrencies without the need for a centralized intermediary. SushiSwap's native token is called SUSHI, and it is an ERC-20 token on the Ethereum blockchain. SUSHI tokens are used for governance and liquidity provision on the SushiSwap platform. Holders of SUSHI can vote on proposals related to the development and management of the platform, as well as earn rewards by providing liquidity to the SushiSwap liquidity pools.
Sushi (SUSHI) price
Currently, Sushi Price is USD. SUSHI has a circulating supply of coins and a total supply of . If you are looking to buy or sell Sushi, Coinbase is currently the most active exchange.
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Sushi price prediction 2023
The current market sentiment is full of fear, uncertainty, and doubt (commonly known by the acronym FUD), as fears of FTX contagion mount. At the moment, it’s difficult to assess exactly how much damage has FTX collapse has done to the crypto industry, since some affected crypto companies may be already secretly insolvent due to highly leveraged positions, as we have seen in the aftermath of Terra's implosion.
According to our estimates, it will take months for the full scale of FTX bankruptcy to become clear, so the turning point for the crypto market won’t come before late Q1 to early Q2 2023, although for now, it seems that the industry has absorbed most of the damage.
Another market factor that should be taken into consideration is how successful will be the U.S. Federal Reserve’s efforts to curb inflation. For now, there is reason to believe that Fed is making some progress in its attempts to cool the overheating economy — on November 30, Federal Reserve Chair Jerome Powell announced it’s time to slow the pace of coming rate hikes, which immediately triggered a positive reaction from both crypto and equity markets.
Given the above information, one can easily guess that there will be a considerable divergence between bullish and bearish Sushi 2023 price predictions due to multiple unknown factors. For this reason, we estimate that the bullish scenario will see Sushi price at $2.27 to $2.84. On the flip side, a fading interest in the new meme coin may push the price of Sushi to $0.94-$0.81 lows.
Sushi price prediction 2024
In 2024, the global macroeconomic backdrop is likely to be more favorable to the crypto market, adding value to Sushi (SUSHI) and other cryptos. However, the possibility of black swan events similar to the collapse of FTX cannot be completely ignored.
Keeping this in mind, we foresee the price of Sushi to climb as high as $3.69, with the more distant prospect of reaching $4.41 in 2024. The bearish scenario is likely to see Sushi (SUSHI) trading between $3.14 and $2.92 in 2024.
Sushi price prediction 2025
Since it’s practically impossible to foresee what market factors will influence cryptocurrency prices in 2025, this part of our Sushi (SUSHI) price analysis and prediction is based on pure speculation and observation of Sushi historical price movements.
Our Sushi 2025 price forecast expects SUSHI to rally towards $6.74 and reach $7.93 by the end of the year. The bearish scenario would see Sushi at $5.35 to $4.78.
Sushi (SUSHI) price prediction 2026
Looking ahead four years, to 2026, Coinpaper's price prediction for Sushi is neutral. In 2026, we expect Sushi to reach at least $11.05 before climbing higher to $15.96. In case of a bearish scenario, Sushi may fall to $9.43.
Is Sushi (SUSHI) a good investment?
As an established cryptocurrency with a solid use case as a native token of a popular decentralized exchange, SUSHI can be generally considered a worthy investment. However, given the fact that SushiSwap was recently subpoenaed by the Securities and Exchange Commission and may be soon subject to regulatory enforcement action, it would be wise not to rush with buying SUSHI. Keep in mind that it’s important to conduct your own do due diligence before putting your money into any crypto asset.
Are you ready to invest in Sushi? Very few if any analysts forecast its value going down to zero, although you can’t be sure these days, so make sure you always do your own research before making investment decisions. And keep in mind that cryptocurrency prices can be extremely volatile, so trading crypto always involves a high degree of risk.
You can buy SUSHI from many crypto exchanges, including Coinbase
Disclaimer: Coinpaper does not recommend that any cryptocurrency should be bought, sold, or held by you. Always conduct your own research and consult your financial advisor before investing in any digital asset.
Who created Sushi?
SushiSwap was created in 2020 as a fork of Uniswap by a pseudonymous individual or group called Chef Nomi, along with two other anon devs sushiswap and 0xMaki.
What was the all-time high for Sushi (SUSHI) ?
The all-time high price of Sushi is $ on 2021-03-13