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SKYAI crashes 92% after mid-June rally amid whale dumping and manipulation fears

Market News
09 Jul 2026
AMBCrypto
View Source
Bearish
pluang ai news

SKYAI surged 216% in mid-June from $0.151 to $0.479 but then plunged 92% due to heavy selling by large holders (whales) during price bounces, raising concerns of market manipulation. On-chain data and researchers highlight a pattern of concentrated supply in few wallets leading to retail FOMO and sharp dumps. The token recently fell below key support levels, nearing lows from late 2025, despite high trading volume and rising Open Interest. The ongoing allegations of manipulation and sharp price swings make the recovery outlook uncertain for investors.

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