Sui Token Struggles to Regain Strength Despite Denial of ‘Unfounded’ Allegations

Sui’s native SUI token has faced challenges in the market, experiencing a plunge of over 9% following allegations from South Korean regulators. The Sui Foundation has been accused of manipulating the token’s supply for its own advantage.

Recently, the SUI token saw a slight recovery of nearly 1% over the past 24 hours, having fallen from $0.41 on October 16 to a low of $0.37 on October 18. This represents a 7% decrease within just two days, according to data from market tracking sources.

The ongoing scrutiny and allegations have significantly impacted the price of the SUI token, highlighting the challenges it faces in regaining stability.