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    The call is coming from inside the house

    This dashboard aims to answer the question if the price jump of $ SUSHI on December 8th was driven by dex trades (as opposed to off-chain trades) by looking at trades in any SUSHI/WETH, SUSHI/USDC and SUSHI/USDT pools on Uniswap and Sushiswap on that day.

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    The graph below shows the hourly buy/sell swap volume for SUSHI/WETH, SUSHI/USDC and SUSHI/USDT pools on Sushiswap and Uniswap v2/v3.

    Huge Increase in BUY volume on DEX Prior to $SUSHI Price Spike

    As we can see on the graph above, on 8 Dec at around 21:00, there is huge increase in buy volume but only a moderate increase in sell volume. In this hour, price of $SUSHI saw a huge spike from around $5.7 to peak of $6.7 which more than 17% increase in price. Following the event, we can see that sell volume start to pick up and overtook buy volume on 23:00 while price of $SUSHI saw a decline back to $5 range over the next few hours.

    Disproportionate Buy and Sell DEX trade volume drive price of $SUSHI

    In conclusion, volume from DEX trades does indeed drive the price of $SUSHI. When volume buy and sell trades is disproportionate as what happened on 8 Dec 21:00, it will drive the price of the SUSHI token in one direction significantly, and in this case up.