$SKYAI Price Plummets Amid Market Manipulation Concerns

SKYAI ($SKYAI) has been experiencing extreme price volatility, with concerns of market manipulation weighing on investor sentiment. In mid-June, the altcoin witnessed a short-term bullish momentum, rallying 216% from $0.151 to $0.479 in a week.

However, since then, bears have regained control, and the token has fallen 92% from its high. Researcher Freeman pointed out that the crash wasn't an organic AI hype fade but rather a manipulation playbook.

The post detailed how whales dumped $SKYAI during bounces, such as the mid-June one to $0.47, which was consistent with a parabolic narrative pump followed by concentrated supply in few wallets and heavy distribution into retail FOMO.

Bubblemaps flagged patterns on centralized exchanges that were consistent with potential market manipulation. As more supply hits the market, the pressure on the token increases, raising questions about whether there is enough market conviction to reverse the severe drawdown.