SUSHI: the crowd takes notice
A couple days ago one of our market experts noticed an interesting spike in onchain activity for SUSHI, but everything was quiet on the social side. And look what appeared just yesterday:
Price has been growing leading up to this announcement, and it really shot up with it:
You can see that the social volume always lag a bit, as the discussion doesn't spread instantly, but the size of the spike is impressive, the crowd really picked up on this announcement.
Let's check other metrics:
1) Address activity
Active addresses look healthy so far, no divergency yet.
2) Trading volume
Same can be said for trading volume, it's going up following the price.
The rally doesn't raise immediate red flags, but remember that news always come out after the majority of the move is done, so it makes sense to execute caution in regards to SUSHI right now, especially taking into account how the overall market is hanging by a thread.
Thanks for reading!
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