SKR Delivers The 200% Rally Smart Money Was ‘Seek’ing — Yet Airdrop Sellers Lurk
SKR token surged over 200% post-airdrop, with smart money aggressively absorbing selling pressure from airdrop recipients.Summary
The Seeker (SKR) token experienced a sharp rally, gaining over 200% in 24 hours, despite the typical heavy selling pressure following a large Solana ecosystem airdrop. While exchange balances rose significantly as airdrop recipients took profits, wallet data revealed that smart money and whales aggressively absorbed this supply. Non-exchange wallets accumulated about 182 million SKR, outweighing the 129 million tokens moved to exchanges, which prevented the price from breaking below key support levels like the Volume Weighted Average Price (VWAP).
Technically, the price quickly reclaimed VWAP, and the 9-period Exponential Moving Average (EMA) held support, indicating controlled profit-taking rather than a structural breakdown. For the rally to extend, SKR must hold above VWAP on closing candles, with the Smart Money Index remaining stable or rising. If successful, targets include retesting highs near $0.059, potentially leading to $0.080 and $0.092. Conversely, a failure at VWAP could expose downside levels at $0.034 and $0.020.
(Source：BeInCrypto)