Sui (SUI) experienced a dramatic drop of nearly 27% in just one day, plummeting to $1.60 before rebounding sharply. This precipitous fall coincided with broader market turmoil triggered by President Trump’s announcement of increased tariffs on Chinese imports. CoinMarketCap data indicates Sui’s market cap dropped to $9 billion as trading volume surged 139%, highlighting heavy selling and high volatility. The rapid increase in trading volume suggests aggressive liquidations by traders seeking to exit leveraged positions, causing cascading effects across various exchanges. Despite the significant correction, a swift recovery from sub-$2 levels demonstrates buyer interest at discounted prices. However, SUI remains vulnerable, as it has lost nearly 30% of its value this week reflecting broader risk aversion in the digital asset space. With global sentiment remaining fragile following the U.S.-China trade shock, investors are closely monitoring whether Sui can hold support above $2.40, a crucial level that could either solidify the rebound or signal further downside potential.