Seeker prices have entered a downward phase. After a sharp 200% post-launch rally earlier this week, SKR is currently down nearly 25% in the past 24 hours. This change will become increasingly important as the buyers driving the movement change.
In our previous analysis, we showed how smart money absorbed airdrop sales and contributed to price stability. That setting is no longer intact. While smart money has started to reduce exposure and foreign exchange balances are increasing, whales are quietly increasing. As a result, the market has been pulled in the opposite direction, with the 5% cliff now in focus.
Termination of smart money due to major failure
The first cracks appeared on January 24th.
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On the hourly chart, Seeker price lost the Volume Weighted Average Price (VWAP) line. VWAP represents the average price paid by traders weighted by volume.
When prices are above that, buyers are in control. When it breaks down, it often indicates dispersion rather than healthy consolidation.
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This breakdown closely aligns with smart money behavior.
In the last 24 hours, smart money wallets reduced their SKR holdings by 56.48%. Based on on-chain data, this cohort eliminated approximately SEK 8.5 million from their positions in one day. This was not a late trim. It was a decisive retreat accompanied by the loss of short-term structure.
This is important because smart money tends to move first. If they exit after a VWAP loss, it usually indicates that short-term gains no longer provide favorable risk-reward.
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This explains why seeker bounce attempts are being suppressed even though prices are about to stabilize. But smart money selling is only one side of the equation.
Whales gain momentum as divergence signals accumulate
While the tipped-off traders retreated, the whales moved in the opposite direction.
From January 23 to January 24, the seeker price continued to trend downward, but the Money Flow Index (MFI) increased during the same period. MFIs track buying and selling pressure using both price and volume. If prices fall while MFI rises, it indicates an accumulation behind the scenes.
This difference helps explain whale behavior.
In the past 24 hours, Whale’s holdings increased by 40.78%, bringing the total balance to SEK 56.49 million. This means that the whale added about 16.3 million kronor during the pullback.
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Unlike smart money, whales do not trade short-term structures. They are in a weak position and this is completely consistent with MFIs’ buy-in.
This creates a clear contrast in intent. After the failure of VWAP, smart money withdrew. When the momentum cooled and a buy signal appeared, the whales intervened.
However, whale accumulation does not automatically translate into price strength. Whales can absorb supplies, but if selling pressure elsewhere continues to mount, their decline cannot be stopped. This focuses on exchange behavior.
Seeker price break risk persists due to exchange inflow
Despite the whale purchases, supply pressures remain high.
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Foreign exchange balances rose sharply in the past 24 hours, increasing by 10.94% to 453.67 million kronor. This means that approximately 44.8 million kronor moved to the exchange during this period. Smart money exits have contributed to this trend, and individual profit-taking is likely to have increased pressure as well.
This change in supply is clearly visible in the volume data.
On the 4-hour chart, on-balance volume (OBV) has been trending down despite the price increase from January 21st to January 24th. OBV tracks whether volume confirms price movement. If OBV is falling while prices are holding, it indicates that the rise is being driven by reduced demand rather than strong accumulation.
This is why whale buying has not yet translated into upside follow-through. This is especially true as the surge in foreign exchange inflows easily exceeds the number accumulated.
Technical risks are now clearly defined. Based on the 4-hour closing price, the key level is $0.028, representing a 5% increase from the current level at the time of writing. A clean close below this and a breakdown of the OBV trendline indicates that selling pressure is outweighing the accumulation, creating downside risk towards $0.0120.
On the bright side, Seeker needs to regain $0.043 to regain confidence. Beyond that, $0.053 remains the most important resistance zone, with previous supply concentrated. Reaching these levels will remain difficult unless volume behavior changes.
This structure tells a simple story. Smart money has been pushed aside. Whales are gathering. Exchange offices are filling up. As long as this imbalance continues, seeker prices will remain vulnerable.
