SUI Price Doubles in Two Weeks — But a $320M Token Unlock Looms

$SUI, the native token of the Sui blockchain, has staged an impressive rally over the past two weeks. However, a major token unlock scheduled for May 1 could inject fresh volatility into the market.

SUI’s Breakout Rally

SUI surged more than 110% from its mid-April lows, reaching $3.80 — its highest price since early February. As seen in the one-year price chart, the token has sharply rebounded after a prolonged downtrend, pushing SUI back into bullish territory.


This momentum has been fueled by booming activity across the Sui ecosystem. Decentralized exchanges (DEXs) built on Sui saw weekly trading volumes spike by 60%, crossing $3.43 billion in just seven days. Monthly volumes now stand above $11 billion, signaling growing user engagement across the network.

Meme coins within the Sui ecosystem have also been among the top performers, helping drive increased transaction activity.

Src: CoinmarketCap

Upcoming Token Unlock Raises Caution

Despite the excitement, traders are turning cautious ahead of a major token unlock on May 1. Around 74 million SUI tokens — valued at approximately $320 million — will be released, representing 2.28% of the current circulating supply.

Historically, large unlocks often introduce downward pressure on token prices due to the sudden increase in available supply. While Sui’s structured unlock system is designed to provide steady liquidity, markets often react sharply to these events.

From a technical perspective, SUI’s Relative Strength Index (RSI) has climbed to 77, suggesting overbought conditions. Analysts note that a corrective move toward key support levels around $2.90 to $3.10 is possible, especially if selling pressure coincides with the unlock.

SUI recently broke out of a descending channel and completed a bullish impulse wave, but bearish divergence on the RSI indicates waning momentum. The next key areas to watch are the 0.382 Fibonacci retracement at $3.50 and the 0.5 level at $2.93.

What It Means For You [NFA]

If you’re holding or trading SUI, the days surrounding the May 1 unlock could be critical. While the recent rally has been strong, the $320 million unlock could introduce short-term pressure. Watching how the market absorbs the new supply will be key to gauging whether the uptrend can continue or if a deeper pullback is in store. As always, stay cautious and manage risk carefully.