The native token of the Sui blockchain, SUI (SUI), experienced a significant price decline after failing to sustain its recent rally above $4. Following a brief surge that saw it briefly break through the $4 mark in May 2025, SUI has faced challenges maintaining upward momentum in recent weeks. This week’s drop has led to over a 7% decrease over the past week, despite a modest 1.3% increase within the last 24 hours. Currently trading at $3.32, SUI is recovering slightly from its low point of $3.07 in the ongoing corrective phase. The token’s value has fallen by nearly 19.8% compared to its peak monthly high of $4.14 and a sharp 37% from its all-time high of $5.30. The downturn may be attributed to a decline in sentiment across the Sui ecosystem following the May Cetus exploit, which resulted in a loss of $260 million. This event impacted the total value locked (TVL) on the Sui network, dropping from $2.13 billion to the present $1.75 billion as per DefiLlama data. Despite this pullback, optimism persists for SUI. This is fueled by continuous growth within the broader ecosystem and growing bullish predictions of a spot ETF spurred by recent filings from investment firms such as 21Shares. The recent dip in SUI’s price aligns with a broader cooling trend in the crypto market, although Bitcoin (BTC) and prominent altcoins like Ethereum (ETH) and Solana (SOL) have demonstrated greater resilience amidst the volatile period. Memecoins like POPCAT and WIF bucked the trend, experiencing impressive gains of 14% and 16% respectively.