SUI Token Dips 2% After 18% Weekly Surge Amid tBTC Integration and High Trading Volume

SUIUSDT is currently trading at 3.4391, reflecting a 2.08% decrease over the past 24 hours, with a 24-hour open of 3.5120. The recent price decline can be attributed to increased short-term volatility following a period of strong gains, as SUI had previously surged over 18% in the last week, driven by ecosystem developments such as the integration of tBTC on the Sui blockchain, new application launches, and heightened developer activity. Market sentiment has been mixed, with technical indicators showing both bullish and bearish signals, including a recent breakout from an inverse head-and-shoulders pattern and subsequent corrections below key support levels. Trading activity remains high, with a 24-hour volume of approximately $1.63 billion and a circulating supply of 3.46 billion SUI, while the market cap stands at around $11.87 billion.