Many social media posts continued to portray SKYAI as one of the weakest performing coins on the market, reinforcing an increasingly bearish narrative around the token.
One on a large scale Popular post It even encouraged traders to sell SKYAI while highlighting the actions taken by market maker DWF Labs.
The discussion gained momentum because SKYAI stock was already trading roughly 75% below its reported launch price, making investors increasingly cautious.
As confidence weakened, the token fell another 20.79% over the past 24 hours to $0.07496, while the market cap fell to $74.96 million.
However, trading activity remained high, with 24-hour trading volume reaching $27.3 million, showing participants continuing to engage with negative sentiment rather than ignoring it. This combination suggests that social narratives have continued to influence market behavior rather than fading into the background.
Long liquidations continued to dominate leveraged traders
Derivatives data showed that leveraged bulls absorbed most of the losses during the latest trading session.
Liquidations totaled approximately $324,670, with long positions amounting to $300,610 and short liquidations amounting to only $24,060.
Binance recorded the largest long liquidation at around $129,370, followed by Gate with $48,110, HTX with $31,540, and Bitget with $30,610. These numbers showed that bullish traders continued to lose positions much more aggressively than bearish participants.
However, the relatively small amount of short liquidations suggests that sellers rarely face forced exits despite the ongoing decline.
The imbalance reflects continued downward pressures across perpetual markets, while leveraged buyers have repeatedly failed to defend higher price levels.
Large traders gained influence as retail activity faded
Market participation has shifted significantly as whale-sized activity becomes increasingly dominant compared to retail traders.
The Whales vs. Retail Delta rose to around 0.228, moving further into positive territory after spending most of February through April below zero.
The reading did not confirm whale accumulation or heavy buying.
Instead, it showed that larger participants accounted for a larger share of market activity from retail traders during recent sessions.
At the same time, the fragmentation effect continued to weaken as smaller participants became less active compared to larger orders.
This shift has emerged even as SKYAI remains under selling pressure, suggesting that market participation is becoming increasingly concentrated among large traders rather than widespread retail participation.
Can SKYAI defend the final support area?
Skyay It continued to trade just above its key support level at $0.0139, while immediate resistance remained near $0.3882 after repeated failed recovery attempts.
The chart showed that successive bearish candles had extended the recent decline, leaving buyers without a convincing bounce.
Meanwhile, the Relative Strength Index fell to 34.78, approaching oversold territory and reflecting fading buying strength.
However, the index did not reach levels that usually indicate fatigue.
The DMI also favored sellers, with -DI remaining at 23.86 above +DI at 18.58, while ADX at 27.67 indicated that the prevailing downtrend retains significant strength.
If selling pressure eases, SKYAI may attempt to rebound from current levels. Otherwise, continued weakness will likely keep the price pinned near support before any meaningful recovery occurs.
To sum up, bearish sentiment continued to shape SKYAI’s performance, while prolonged liquidations and weak retail participation fueled the broader decline.
Although activity related to the size of whales has become relatively more influential, the available data do not confirm the accumulation.
Unless buying interest improves and technical indicators stabilize, SKYAI is likely to remain vulnerable to additional downside pressure near its current support.
Final summary
- Bearish sentiment and heavy long liquidation continued to impact market structure and confidence in SKYAI.
- Retail activity weakened while larger participants gained influence without asserting outright accumulation.
