SEI, a cryptocurrency that recently entered the top 50 in the crypto world, continues to experience significant activity. The coin’s movements have mirrored the broader market, with rumors intensifying around SEI as its price dipped over the weekend.
Amidst SEI’s price fluctuations, lawyer Bill Morgan, known for his support of XRP, shared an intriguing investment narrative about SEI, shifting attention towards this altcoin. The token briefly surpassed the $0.8 level in the past week, signaling sustained investor interest despite a bearish market.
Morgan’s endorsement of SEI became apparent when he disclosed purchasing SEI at just over $0.20 and then again during a rise to $0.30, highlighting his commitment to the altcoin. The token’s recent price volatility has sparked global implications for its future.
SEI’s current price trajectory shows a significant downward trend. However, the timing of Morgan’s investments coincides with the token’s rise, suggesting his actions were well-founded.
At the time of writing, SEI has faced a 5% drop in the last 24 hours, trading at $0.6727, with a weekly decline of 5.47%. This downturn is also reflected in its daily trading volume, which fell by 12.5% to $391 million, and market cap, which decreased by 4% to $1.6 billion. Despite this, SEI has surged by 87% in the last month.