Seeker’s SKR token declines after airdrop as early holders start selling

Seeker’s SKR token looked volatile after Solana Mobile launched its airdrop. On January 21, Solana Mobile distributed 2 billion SKR tokens – worth about $26.6 million at launch – to Seeker mobile users and developers.

The airdrop immediately put SKR Bank on traders’ radar, triggering strong initial price action. However, once the initial rally subsided, price discovery became sluggish, with selling pressure emerging quickly after the initial wave of enthusiasm.

Researcher titles are already sold

Short-term signals indicate weak momentum despite a strong open. On the 15-minute chart, the Money Flow Index has been trending lower since the SKR first peaked. As a volume-weighted momentum indicator, a drop in the IMF below the neutral 50.0 line indicates that sellers are in control of the market.

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A sustained decline in the IMF generally indicates declining demand rather than random fluctuation. In the case of SKR, this indicates the first recipients of airdrops They branch symbols To ensure profits. This behavior is typical of a new launch, but remains a negative evidence, as long as the momentum remains negative.

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On-chain transaction data supports this. Since launch, there have been approximately 22,130 purchases and approximately 25,039 sales transactions. This imbalance shows that distribution exceeds accumulation, reinforcing a short-term bearish bias.

This divergence highlights the caution of the trader after the initial rise. While still Interest in SKR High, the prevailing behavior is to take profits and not to build positions. Without a shift towards net buying, downward pressure is likely to continue.

The price of SKR faces more downside risks

Seeker (SKR) is still about 37% above its launch hour price, trading near $0.01198 at the time of writing. However, after hitting a high of $0.01553, the price turned around and entered a corrective phase, indicating that the initial euphoria has subsided as liquidity stabilizes.

If the selling pressure continues, SKR risks losing the $0.01098 support. A clean break below this level could accelerate downside momentum, with $0.00879 emerging. in deeper decay, The price may drop About $0.00754, canceling much of the launch day rally.

Stability depends on the near term In defense About $0.01098. Keeping that area will increase the chances of placing. On the other hand, a recovery of $0.01417 will return the momentum to the upside and indicate renewed confidence among buyers.