$SUI is $0.65 with 4.07B circulating.

Yes, there is dilution.
No, it doesn’t kill the upside.

If next cycle SUI only gets back to a $30B–$40B market cap
on ~5.2B circulating:

That’s $6 – $8.

If it really reprices as a top L1:
$50B–$70B MC = $10 – $13.

And if this cycle gets aggressive:
$15 – $20 is still on the table.

Last time this zone printed a 10x.
The product is bigger now.
The float is still early.

Dilution slows the price.
It does not erase the move.

Not financial advice.
High conviction.

$SUI