$SKY Price Movement Tracker
5-minute change: -7.94%; 24h change: -8.00%; current price: $0.07127; 24h trading volume: approximately $3.24 million
No clear, sudden news catalyst has emerged. Sky Protocol (formerly MakerDAO) recently completed its second SKY token burn (7.37 million tokens, approximately 2.6 times the amount of the first burn, funded by 5% of the protocol’s monthly net surplus), which would normally be positive for fundamentals. However, a report by AMBCrypto last week noted rising selling pressure from whales and declining open interest in perpetual futures, with long positions suffering significantly greater losses than shorts. Since reaching an all-time high of $0.10217 on October 5, SKY has fallen by approximately 30%; this sharp drop appears more like continued selling pressure following its earlier gains.
The 24h low of $0.07074 has already tested the $0.07 psychological level. A decisive break below it could bring support around $0.065 into view. If it rebounds, watch whether the price can recover its losses around $0.078. Short-term outlook: sentiment is weak, and the technical correction is continuing. In brief: Don’t chase the drop with short positions; wait for the price to stabilize before considering a trading direction.
5-minute change: -7.94%; 24h change: -8.00%; current price: $0.07127; 24h trading volume: approximately $3.24 million
No clear, sudden news catalyst has emerged. Sky Protocol (formerly MakerDAO) recently completed its second SKY token burn (7.37 million tokens, approximately 2.6 times the amount of the first burn, funded by 5% of the protocol’s monthly net surplus), which would normally be positive for fundamentals. However, a report by AMBCrypto last week noted rising selling pressure from whales and declining open interest in perpetual futures, with long positions suffering significantly greater losses than shorts. Since reaching an all-time high of $0.10217 on October 5, SKY has fallen by approximately 30%; this sharp drop appears more like continued selling pressure following its earlier gains.
The 24h low of $0.07074 has already tested the $0.07 psychological level. A decisive break below it could bring support around $0.065 into view. If it rebounds, watch whether the price can recover its losses around $0.078. Short-term outlook: sentiment is weak, and the technical correction is continuing. In brief: Don’t chase the drop with short positions; wait for the price to stabilize before considering a trading direction.