SUI Price Rallies 17%, Eyes $1 Target as Buyback Program Supports Ecosystem
The SUI price has made a significant move upward after breaking above the $0.76 resistance zone, resulting in a 17% rally and confirming the bullish setup highlighted by traders.
According to Sui Insiders, the breakout has shifted attention toward the $1 level, while longer-term projections remain significantly higher if the current momentum continues.
The latest move comes after months of relatively quiet price action, making the breakout particularly important for SUI's market structure.
The Sui Foundation's ongoing buyback activity is also supporting the ecosystem, with over 609,800 SUI being bought back since the start of the year. The repurchased tokens are not being burned but rather invested in the SUI ecosystem, focusing on growing the network and ecosystem.