A widely followed crypto analyst says that altcoin season is around the corner while updating his outlook on Sui Network (SUI) and Pudgy Penguins (PENGU).
In a new thread, pseudonymous crypto trader Kaleo tells his 724,500 followers on X that naysayers are wrong to assert that this cycle won’t have an altcoin season and that it should kick off once retail investors jump into the market again, though no specific dates were mentioned.
“We really have not had a new wave of retail yet. I don’t care what people say, we’ve had institutional interest so far and people have used that as the reason for why the top is in already, and for why this cycle won’t truly have a true altseason and for why things are different this time around. I fully disagree.
I do not see after everything that has happened from a regulatory perspective that we don’t see a reignition of alts the way that we have in other cycles. At the end of the day, I love Bitcoin and Bitcoin brings the majority of people in, but the average person out there wants to find the next Bitcoin.”
Moving on to the decentralized finance project SUI, Kaleo says that the token appears primed to skyrocket against Bitcoin (BTC), also noting that it is a launch partner for Google’s artificial intelligence (AI)-based payments protocol.
“Still believe it’s only a matter of time before we see SUI break out of the range it’s been accumulating in the majority of 2025 and make a run for all-time highs vs. BTC.
Total Value Locked (TVL) made new all-time highs (ATHs) earlier this summer and doesn’t look ready to slow down. Only a matter of time before price action (PA) follows.”
SUI is trading for $3.65 at time of writing, a 7.3% decrease on the day, while BTC is valued at $115,538.
Concluding his analysis with PENGU, the native asset of the Pudgy Penguins non-fungible token (NFT) collection, Kaleo says the token should move another leg up due to sheer volume.
“Are you a bulliever that we’re about to see the next leg up yet? Difference between this one and the last one will be the sheer volume. Huge difference in what PA looks like in price discovery at a multi-billion dollar market cap vs. bouncing off the lows after a 90% drawdown.”
PENGU is trading for $0.0354 at time of writing, a 8.7% decrease during the last 24 hours.
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