Seeker (SKR) surged more than 200% within 24 hours of its Solana Seeker smartphones ecosystem airdrop, reaching $0.041 as wallet data revealed large investors absorbed approximately 182 million tokens.
Exchange inflows totaled only 129 million, a gap that explains why early selling pressure failed to derail the rally.
What Happened: Whale Accumulation Overpowers Airdrop Dumps
Exchange balances rose roughly 51% over the past day, pushing total exchange-held SKR to about 380.9 million tokens. The increase suggests airdrop recipients moved quickly to take profits, a pattern common after token distributions.
The selling briefly pushed prices below the Volume Weighted Average Price on the one-hour chart.
However, the breakdown was short-lived.
Price reclaimed VWAP, with the 9-period exponential moving average holding as support. The 21-period EMA was never tested.
Data from Nansen shows the top 100 wallet addresses added approximately 144 million SKR, raising their total holdings to about 8.3 billion tokens.
Standard whale wallets increased positions by 25.6 million tokens, while smart money wallets added 2.4 million SKR, a 32.5% increase for that cohort.
The token briefly touched highs near $0.059 before pulling back.
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Why It Matters: Price Structure Signals Controlled Consolidation
The Smart Money Index, which tracks institutional-style positioning through price behavior, surged during the rebound and has since flattened rather than declined. A flat reading after a strong rise typically signals consolidation rather than rapid selling.
If VWAP holds and the Smart Money Index remains stable, SKR could retest recent highs near $0.059.
A break above that level would open price discovery toward $0.080 and $0.092.
The downside risk is equally defined.
A VWAP failure on the two-hour chart combined with a breakdown in the Smart Money Index could send prices toward $0.034. Deeper selling would expose $0.020, where early consolidation formed.
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