SkyAI (SKYAI) surged 216% from $0.151 to $0.479 in mid-June after defending its $0.20 support zone, but has since collapsed 92% from that peak. On-chain researcher Freeman detailed a manipulation playbook using Nansen data, showing whales dumped SKYAI during bounces. The post described the pattern as a “parabolic narrative pump → concentrated supply in few wallets → heavy distribution into retail FOMO → violent dump.” Bubblemaps flagged patterns consistent with market manipulation on centralized exchanges, similar to warnings from investigator ZachXBT regarding RAVE. Open Interest declined after the mid-June rally, and retail influence is fading relative to large orders.
SkyAI (SKYAI) experienced a brief bullish period in mid-June when the token defended its $0.20 support zone and rallied 216% from $0.151 to $0.479 within a week. Since that peak, bears have regained control and the altcoin has fallen 92% from the $0.479 high.
Researcher Freeman stated in a post on X that the crash was not simply the fade of organic AI hype. Using Nansen data, Freeman detailed how whales dumped SKYAI during bounces, including the mid-June rally to $0.47.
The post broke down the manipulation playbook as follows: “Parabolic narrative pump → concentrated supply in few wallets → heavy distribution into retail FOMO → violent dump.” Bubblemaps also flagged patterns it said were consistent with potential market manipulation on centralized exchanges, a pattern investigator ZachXBT had warned about in relation to RAVE.
Open Interest declined following the mid-June rally to $0.479. As more supply hits the market, pressure on the token increases, and it remains unclear if sufficient market conviction exists in SKYAI to reverse the severe drawdown.
Retail influence was fading compared to large orders, another red flag for traders and investors monitoring suspicious price activity. SKYAI has fallen below the $0.146 support level that had been in place since April, and the current market price sits 75% below that former support.
The token was rapidly falling toward the $0.007 lows from October 2025, though high trading volume on the day of writing pushed the price to $0.05. Open Interest nearly doubled from $6.81 million on July 8 to $13.14 million in recent trading hours, but the combination of sharp correction and ongoing manipulation allegations leaves the recovery outlook uncertain. A bounce to the $0.05 level has turned into another short-term sell-off in recent hours.
