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. After briefly breaking above the $4 mark in a May 2025 rally SUI (SUI) has hit a rough patch in recent weeks struggling to maintain its upward momentum. Per recent price performance, the token is down over 7% over the past week, despite recording a modest 1.3% bounce in the last 24 hours. SUI’s price movement| Source: crypto.news Trading at $3.32 at press time, SUI’s price is a slight recovery from its low point of $3.07 in the ongoing corrective phase. The token’s value marks a steep 19.8% drop from its monthly high of $4.14 and an approximate 37% from its all-time high of $5.30. You might also like: Tether allocates 10,500 BTC for SoftBank’s investment into Twenty One Capital The downturn may be partly attributed to dampened sentiment across the ecosystem following the May Cetus exploit, which resulted in a loss of $260 million. The post-mortem jitters also triggered a decline in the total value locked (TVL) on the Sui network from $2.13 billion to the present $1.75 billion, according to DefiLlama data. Despite the pullback, optimism for SUI remains. This is fueled by continuous signs of growth across the broader ecosystem, as well as growing bullish whispers of a spot ETF spurred by recent filings from investment firms like 21Shares. SUI’s recent dip mirrors a broader cooling across the crypto market, although BTC and major altcoins such as ETH and SOL have demonstrated stronger resistance amid the ongoing volatility. Memecoins including POPCAT and WIF defied the larger trend with more impressive gains, posting 14% and 16% respectively. Read more: ONDO drops 12% this week, breaks key structure — can the $0.80 support hold?