SUI Gets A Bear Introduction On Day 2, Will Sell Pressure Continue?

Yesterday marked a new dawn in the crypto industry as the SUI Layer 1 blockchain launched on Mainnet with its hyped native token SUI. The news of the token launch on major exchanges brought excitement to the crypto community, and SUI did not disappoint as its native token rallied massively, recording over 2,000% in the first hour of listing.
The layer 1 blockchain token was seen to hit the $2.16 mark at the time of its launch and listing on exchanges before it retraced due to selloffs.
However,