Sei (SEI) is testing a key floor near $0.06 as traders weigh whether the Giga upgrade can ignite a recovery toward $0.20.
Sei Price Slips Toward $0.02 Demand Zone
The Layer 1 token is trading at roughly $0.0636 after a quarter that extended a bearish trend running since 2025. Sei's market capitalization sits near $451 million, with daily volume around $45 million.
The token broke below the $0.10 psychological support during the first quarter of 2026. It now sits inside a multi-year falling wedge.
Analysts at Coinpedia argue the wedge has been shaped by three clear resistance touches, the most recent in September 2025. They see price gravitating toward $0.020, where selling could finally exhaust itself.
Also Read: XRP ETFs Hit Record $1.39B But Token Loses 4th Spot To BNB
Giga Upgrade Brings Autobahn Consensus
Sei's developers are rolling out the Giga upgrade, which introduces the Autobahn consensus and asynchronous execution. The upgrade targets more than 200,000 transactions per second and sub-400 millisecond finality.
Coinbase began routing all SEI transactions through the new EVM standard during a migration window in April. The exchange's update enables native EVM support for sends and receives.
Sumvin Inc. went live on the network in late February, using its sub-second finality for AI-driven financial execution.
Analysts warn that monthly token unlocks remain a headwind. About 55.56 million SEI, or roughly 0.97% of supply, were scheduled to enter circulation on Apr. 15, adding fresh sell pressure even as institutional integrations expand.
SEI Price Swings Since 2023 Launch
Sei's chart tells a familiar Layer 1 story of euphoric highs followed by a long drawdown. The token started trading at $0.18 in August 2023 and hit an all-time low near $0.008 within weeks of launch.
It rallied to an all-time high of $1.14 on Mar. 16, 2024, then capped near $0.70 late that year as sellers used every spike to exit. By December 2025, the token had retreated to $0.13, and February 2026 saw it lose the $0.10 floor that bulls had defended for nearly a year.
Read Next: Hyperliquid Rejects Wall Street's Manipulation Claims As HYPE Drops 14%