SUSHI Down 45%: What’s Driving the Decline?

The price of SUSHI, the native token of SushiSwap, a decentralized exchange, is down 45% from February 2023, when prices peaked at $1.63, the highest level in six months. SushiSwap Token Redesign This contraction is despite the successful implementation of a proposal to redesign SUSHI’s tokenomics, making SUSHI, a governance token, more deflationary. The proposal was first made in December 2022 by Chief Chef Jeremy Grey and was voted on and agreed on by the community early this year. The proposal passed with a majority vote and will seek to reduce the SUSHI supply over the years. At the same