Sui token struggles to regain despite denial of 'unfounded' allegations
The price of the SUI token plummeted after allegations of supply manipulation from regulatory officials in South Korea. Sui's native SUI token has struggled to regain ground after plunging more than 9% amid allegations from South Korean regulators, which have accused the Sui Foundation of manipulating the supply of the token for its own gain. SUI token gained a little under 1% in the last 24 hours after falling from $0.41 on Oct. 16 to new lows of $0.37 on Oct. 18. Current prices mark a 7% decline in just two days, according to data from CoinGecko. The price of the SUI token has struggled to regain ground amid allegations of supply manipulation. Source: CoinGecko In an Oct. 18 post to X (formerly known as Twitter), the Sui Foundation — the organization behind layer-1 blockchain Sui — slammed the allegations of supply manipulation as “ unfounded and materially false.” “We want to address some inaccuracies that have been reported today,” said the Sui Foundation. "The un...