SUI’s $116M Disaster: Crypto’s New Nightmarish Trend 🚨

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Markets

What to know:

  • SUI took a nosedive, leaving investors in a panic 🤯-9% drop, key support levels shattered, and the DeFi world collectively gasped. 💸
  • The sell-off? A direct result of Monday’s $116M hack on Balancer. Because nothing says “confidence” like losing six figures to a glitch. 😱
  • Analysts are now whispering about further pain unless SUI’s bulls rally with the determination of a toddler clutching a teddy bear. $2.07 is the holy grail, or so they say. 🕊️

SUI, the token that promised to revolutionize blockchain, now looks like a confused toddler in a cryptocurrency maze. It plummeted 9.2% to $2.02, with trading volume spiking like a caffeinated squirrel. 🐿️

Following Monday’s $116M exploit on Balancer, the crypto community is now collectively panicking. It’s like watching a horror movie where the villain is a poorly coded smart contract. 🎬

As security concerns hit harder than a Monday morning alarm, investors are dumping riskier tokens. SUI’s institutional liquidation? A drama so epic, it could rival a daytime soap. 42.6 million tokens traded-because nothing says “I’m scared” like a massive sell-off. 🙀

The $2.08 level, once a safe haven, is now a nightmare. Multiple failed bounces? Classic capitulation. SUI is now trading at $2.02, with low volume and high anxiety. Traders are holding their breath, waiting for the next move. 🧘‍♀️

Chart watchers are calling it “capitulation 101”: a quick collapse, lower highs, and a tight consolidation. If SUI breaks below $2.014, expect a descent to $1.98-or even $1.95. To save face, bulls need to reclaim $2.07 with the conviction of a vegan at a steakhouse. 🥗

The CoinDesk 5 Index? It’s down 1.15%, with all members in a slump. Because even the top dogs are feeling the heat. 🔥

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2025-11-04 19:26