The price of SushiSwap has increased by 23.76% in the last 7 days. The price rose 2.99% in the last 24 hours. In the last hour, the price grew by 0.39%. As of this writing, the current price is $1.35 per SUSHI, according to CoinMarketCap. SushiSwap is 94.15% below the all-time high of $23.38.

SushiSwap price has seen a strong surge this week as investors react to several major developments within the ecosystem. First, on Monday, Sushi DAO changed its leadership team and as a result chosen one Jared Gray as the “head chef”, the equivalent of a CEO.

Grey, CEO of crypto exchange Bitfineon and former CEO of decentralized finance (DeFi) platform EONS, is a highly experienced professional who has established many crypto startups in recent years. In a statement, Gray said he wants to strengthen participation in the Sushiswap platform, improve the exchange’s internal organization and focus his time on growing revenue and market share.

Multiple technical analysts on Twitter also believe that SUSHI’s recent positive performance is linked to GoldenTree Asset Management’s recent investment in Sushiwap. Wednesday, Golden Tree invested about $5.2 million worth of SushiSwap governance token. GoldenTree revealed a $5.3 million token stake in decentralized exchange (DEX) SushiSwap, a development that saw the SUSHI token surge 13% as bullish investors piled in.

GoldenTree explained the rationale for such an investment, stating that he was amazed at the resilience of both the SUSHI core team and the community in the face of challenges, “as they continue to build and launch world-class products.”

Renewed bullish activity surrounding the Sushiswap token is reflected in rising social volumes, supported by an increase in weighted social sentiment, reinforcing recent price growth as a result.

The SUSHI community elections and the announcement of GoldenTree came as interest in SUSHI was rising. Between October 4 and 6, the active addresses in the SUSHI protocol increased from 306 to a maximum of 811, although currently the figure is around 700.

The token’s trading volume also increased from $32 million on Oct. 1 to a high of $201 million on Oct. 6, according to data from Santiment. The SUSHI supply distribution also indicates that addresses holding 10,000 to 100,000 tokens and 100,000 to 1 million tokens increased with rising prices as whales sought further accumulation.

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