Sui Token Soars 21.4% Amid Widespread Short Squeeze and Aggressive Buying

The Sui (SUI) token surged by as much as 21.4% in just one day, riding the wave of a widespread short squeeze across the cryptocurrency market.

This event was triggered when Bitcoin climbed near $85,000, leading to approximately $650 million in short liquidations market-wide.

The aggressive leveraged buying in SUI futures contracts is evident in the 29% explosion in open interest to around $402 million.

Crypto analyst CryptoKaleo noted that 'SUI, And there's your breakout. The squeeze from $1.00 to $2.00 should happen swiftly from here.'