SUSHI Eyes 60% Rise Amid Treasury Diversification Proposal Buzz

Sushiswap (SUSHI), the native token of SushiSwap, has surged over 23% in the past 24 hours. The price now hovers near $2.45, with trading volume skyrocketing by 190%. This dramatic increase highlights growing interest from traders and investors. Despite the rally, a correction or consolidation may occur before another big move. 

Traders and Whales Fuel the SUSHI Surge

SUSHI’s recent rally has captured the attention of whales and institutions. Analytics from Coinglass show $6.82 million flowing out of exchanges within 24 hours. Long-term holders and traders are seizing the opportunity, creating a strong accumulation trend.

Open Interest for SUSHI spiked by 44.73%, signaling that new positions are forming. Meanwhile, the Relative Strength Index sits at 78.20, pushing SUSHI into the overbought zone. Historically, such levels often lead to price corrections or pauses.

Treasury Diversification Proposal Sparks Confidence

The rally coincides with a bold move by SushiSwap’s leadership. Head Chef Jared Grey introduced a Treasury Diversification Proposal aimed at reshaping the SushiSwap Foundation. The plan redistributes treasury assets into stablecoins, DeFi tokens, and major cryptocurrencies like Bitcoin and Ethereum.

This proposal seeks to reduce volatility, improve liquidity, and generate passive income. Investors see the move as a critical step in strengthening the platform's foundation. Confidence in the strategy could drive further demand for SUSHI.

SUSHI's recent surge reflects growing excitement within the market. While a correction may be looming, the Treasury Diversification Proposal has sparked optimism. Whales are buying, bulls remain in charge, and traders expect a potential 60% rally.