A prominent crypto analyst has shared insights on the potential upcoming altcoin season while providing updates on Sui Network (SUI) and Pudgy Penguins (PENGU). In a recent message to his 724,500 followers on X, the pseudonymous trader known as Kaleo dismissed skepticism surrounding the possibility of an altcoin season in the current market cycle. He emphasized that a resurgence of retail investors would likely catalyze such a season, although he did not specify any timelines.
Kaleo responded to claims that the market has peaked and that this cycle might not see a genuine altcoin rally. He stated, “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… I fully disagree.” He further noted that despite ongoing regulatory challenges, he anticipates a revival in altcoin interest similar to previous cycles. Kaleo added, “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.”
Turning his attention to Sui Network, Kaleo indicated strong bullish sentiment for the token, suggesting it is well-positioned to gain against Bitcoin (BTC). He pointed out that SUI serves as a launching partner for Google’s AI-based payments protocol and mentioned that its Total Value Locked (TVL) reached new all-time highs earlier in the summer, hinting at a potential price breakout. “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,” he noted, amidst SUI’s current trading price of $3.65.
Shifting focus to Pudgy Penguins, Kaleo expressed optimism about the PENGU token’s trajectory due to increased trading volume. He stated, “Are you a bulliever that we’re about to see the next leg up yet? The difference between this one and the last one will be the sheer volume.” He contrasted the current price action with previous lows, indicating that the token, which is trading at $0.0354, could witness more significant growth in the future.
The conversation surrounding altcoins, especially SUI and PENGU, underscores a growing sentiment in the crypto community that market dynamics may shift soon as retail investors begin to engage more actively.
