SUI token jumps 40% to $1.41 on staking move and bullish breakout, hitting a 4-month high.

SUI token surged nearly 40% to a four-month high of $1.41 after breaking out of a bullish symmetrical triangle pattern on the daily chart. Nasdaq-listed SUI Group Holdings staked 108.7 million SUI tokens worth about $143 million, removing 2.7% of circulating supply and creating a supply squeeze. This, combined with a $3.13 million short squeeze and positive signals from analysts like Peter Brandt, fueled the rally. Upcoming network upgrades and partnerships, including private transactions and stablecoin transfers, also boosted investor confidence.