SUI Token Skyrockets 30% as Trading Volume Explodes to $2.1 Billion
The price of Sui has experienced a sharp rally over the past week, climbing from a base of $1.30-$1.45 to briefly touch $2 before a slight retracement. This MOVE coincided with a 74% surge in daily trading volume, reaching $2.1 billion—an unusually high figure representing approximately 30% of the token's circulating market capitalization.
Market structure analysis indicates that buyers repeatedly defended the $1.30 support level prior to the breakout. Current weekly volume trajectories suggest the potential to match the $10-14 billion activity peak seen in April 2025 during SUI's last major rally from the $2.10 level.
While money FLOW indicators have turned positive, derivatives markets are showing signs of excessive long leverage, which could trigger sharp corrections if momentum falters. The $2.59 level now serves as critical resistance for confirming a sustained bullish trend.
