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<p>The SUI price has come under pressure following allegations of insider selling related to the Sui Foundation, despite a robust 104% rally over the past month. Recent scrutiny intensified when crypto analyst @lightcrypto <a href="https://x.com/SuiNetwork/status/1845890142906863865">highlighted </a>suspicious wallet activity, indicating that wallets associated with the Foundation redeemed and transferred over 82.6 million SUI tokens, valued at approximately $184 million.&nbsp;</p>   
<p>Let's uncover the finer details below. </p>   
<h2 class="wp-block-heading" id="h-insider-trading-is-sui-following-the-trend">Insider Trading: Is SUI Following the Trend?</h2>   
<p>In response to these claims, the Sui Foundation addressed the situation on the X platform, stating that no insiders—employees, founders, or investors connected to the Foundation or Mysten Labs—have sold $400 million worth of tokens during this price surge.</p>   
<p>The Foundation clarified that the tokens being redeemed were likely tied to infrastructure partners that follow existing lock-up periods. They also criticized @lightcrypto for not naming the specific addresses involved in the alleged selling, warning that this lack of detail could lead to misunderstandings about the transactions.</p>   
<h2 class="wp-block-heading" id="h-sui-market-analysis"><strong>SUI Market Analysis</strong></h2>   
<p>Despite the Foundation's assurances, SUI’s price dropped by 2% during a broader market rally. After reaching an all-time high of $2.34 on October 14, the currency's value has been negatively impacted by these allegations. Market analysts, including Ali Martinez, have advised caution for investors.</p>   
<p>Martinez noted that the TD Sequential indicator—a tool known for accurately predicting SUI price movements—currently signals a sell. This analysis suggests that SUI may face further declines, with some analysts predicting a potential drop of up to 43%.</p>   
<h2 class="wp-block-heading" id="h-increasing-network-activity"><strong>Increasing Network Activity</strong></h2>   
<p>Meanwhile, the Sui blockchain has seen a rise in network activity, mainly driven by the growing popularity of meme coin trading. This trend has led to increased engagement on the platform.</p>   
<p>According to <a href="https://defillama.com/chain/Sui?tvl=false&amp;volume=true" target="_blank" rel="noreferrer noopener">data from DeFiLlama</a>, on-chain trading volume has reached about $200 million, indicating strong trading activity. As a result, Sui’s total value locked (TVL) has soared to a record high of $1.13 billion, showing significant capital inflow and strengthening the blockchain’s position in the market.</p>   
<p><strong>The next few weeks could be crucial for SUI's fate. What do you think will happen next?</strong></p>

Sui Foundation Denies Insider Selling, But Price Takes a Hit

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