Multiple social media posts continued to portray SKYAI as one of the weakest players in the market, reinforcing an increasingly bearish narrative around the token.
A widely message broadcast even encouraged traders to short SKYAI while highlighting actions taken by market maker DWF Labs.
The discussion gained momentum as SKYAI had already been trading nearly 75% below its announced introductory price, leaving investors increasingly cautious.
As sentiment weakened, the token fell another 20.79% over the past 24 hours to $0.07496, while its market capitalization decreased to $74.96 million.
However, trading activity remained high, with 24-hour volume reaching $27.3 million, showing that participants continued to respond to negative sentiment instead of ignoring it. This combination suggests that social narratives continue to influence market behavior rather than taking a back seat.
Long liquidations continue to dominate leveraged traders
Derivatives data showed that leveraged bulls absorbed most of the losses in the last trading session.
Total liquidations reached around $324,670, with long positions accounting for $300,610, while short liquidations amounted to only $24,060.
Binance recorded the largest long liquidation at around $129,370, followed by Gate at $48,110, HTX at $31,540, and Bitget at $30,610. These figures show that bullish traders continued to lose positions much more aggressively than bearish participants.
However, the relatively low number of short liquidations indicates that sellers rarely faced forced exits despite the persistent decline.
The imbalance reflects continued downward pressure in perpetual markets, while leveraged buyers have failed to defend higher price levels.
Large retailers have gained influence as retail activity has faded
Market participation changed noticeably as the whale-sized business became increasingly dominant over retail traders.
The Whale vs. Retail delta climbed to around 0.228, moving further into positive territory after spending much of February through April below zero.
The reading did not confirm whale accumulation or aggressive buying.
Instead, it showed that larger participants accounted for a larger share of market activity than retail traders in recent sessions.
Meanwhile, retail’s influence continued to weaken as smaller participants became less active relative to larger orders.
This shift emerged even as SKYAI remained under selling pressure, suggesting that market participation had become increasingly concentrated among large traders instead of broad retail engagement.
Can SKYAI defend its final support zone?
SKYAI continued to trade just above its main support around $0.0139, while immediate resistance remained near $0.3882 after several failed recovery attempts.
The chart shows that consecutive bearish candles extended the recent decline, leaving buyers without a convincing rebound.
Meanwhile, the RSI fell to 34.78, approaching oversold territory and reflecting diminishing buying strength.
However, the indicator has not reached levels that typically signal exhaustion.
The DMI also favored sellers, with the -DI at 23.86 remaining above the +DI at 18.58, while the ADX at 27.67 indicated that the prevailing downtrend retained significant strength.
If the selling pressure eases, SKYAI could attempt to rebound from current levels. Otherwise, prolonged weakness would likely keep the price near support before a significant rally develops.
In summary, bearish sentiment continued to shape SKYAI’s performance, while prolonged liquidations and weakening retail participation reinforced the broader decline.
Although whale-sized whale activity has become relatively more influential, available data has not confirmed the accumulation.
Unless buying interest improves and technical indicators stabilize, SKYAI would likely remain vulnerable to additional downward pressure near its current support.
Final summary
- Bearish sentiment and prolonged, massive liquidations continued to weigh on SKYAI’s market structure and confidence.
- Retail activity has weakened while the largest players have gained influence without confirming any real accumulation.
