Seeker’s SKR Token Slides After Airdrop as Early Holders Begin Selling
Seeker’s SKR token had a unstable debut after Solana Mobile rolled out its airdrop. On January 21, Solana Mobile distributed 2 billion SKR tokens—price roughly $26.6 million at launch—to Seeker cellphone customers and builders.
The airdrop instantly put SKR on merchants’ radar, triggering aggressive early value motion. That mentioned, as soon as the preliminary pop light, value discovery turned uneven, with promote strain displaying up shortly after the primary wave of pleasure.
Seeker Holders Are Selling Already
Short-term indicators level to weakening momentum regardless of the robust open. On the 15-minute chart, the Money Flow Index has been trending decrease since SKR topped out early. As a volume-weighted momentum indicator, MFI slipping beneath the impartial 50.0 line suggests sellers are taking management.
A sustained MFI drop often indicators fading demand quite than random volatility. In SKR’s case, it factors to early airdrop recipients offloading tokens to safe earnings. This conduct is typical for contemporary launches, nevertheless it stays a bearish inform as lengthy as momentum stays detrimental.
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On-chain transaction knowledge backs this up. Since launch, there have been round 22,130 purchase transactions versus roughly 25,039 promote transactions. That imbalance reveals distribution outweighing accumulation, reinforcing the short-term bearish bias.
This divergence highlights dealer warning following the preliminary spike. While attention around SKR stays elevated, the dominant conduct is profit-taking quite than place constructing. Without a shift towards web shopping for, draw back strain is prone to persist.
SKR Price Faces Further Downside Risk
Seeker (SKR) remains to be up about 37% from its launch-hour value, buying and selling close to $0.01198 on the time of writing. However, after tagging a high of $0.01553, the worth rolled over and entered a corrective section, suggesting early euphoria has cooled as liquidity settled.
If promote strain continues, SKR dangers shedding the $0.01098 help. A clear break beneath that stage might speed up draw back momentum, with $0.00879 coming into focus. In a deeper pullback, price could slide towards $0.00754, wiping out a lot of the launch-day upside.
Near-term stabilization hinges on defending $0.01098. Holding that zone would enhance the chances of basing. On the flip aspect, a reclaim of $0.01417 would shift momentum again to the upside and sign renewed purchaser confidence.
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