SUI Token Faces Decline After Failed Rally Above $4
SUI, the native token of the Layer 1 blockchain Sui, has entered a period of steady decline after failing to sustain its recent rally above the $4 level.
Following a brief surge above the $4 mark in a May 2025 rally, SUI (SUI) has encountered challenges in maintaining its upward momentum. Recent price performance indicates that the token has experienced a 7% decline over the past week, despite a minor 1.3% increase in the last 24 hours.
Currently trading at $3.32, SUI has shown a slight recovery from its recent low of $3.07 during the ongoing corrective phase. The token’s value has dropped by 19.8% from its monthly high of $4.14 and approximately 37% from its all-time high of $5.30.
The decline in SUI’s price may be attributed in part to the subdued market sentiment following the May Cetus exploit, which resulted in a loss of $260 million. This incident also led to a decrease in the total value locked (TVL) on the Sui network, dropping from $2.13 billion to the current $1.75 billion according to DefiLlama data.
Despite the recent pullback, there is still optimism surrounding SUI. This optimism is fueled by ongoing growth within the broader ecosystem and rumors of a potential spot ETF, following recent filings from investment firms like 21Shares.
While SUI’s dip reflects a broader cooling trend in the crypto market, major cryptocurrencies such as BTC and ETH have shown stronger resistance amidst the volatility. Memecoins like POPCAT and WIF have defied the larger trend, posting gains of 14% and 16% respectively.