Solana narrowly escaped crashing below the $130 support level, while the Solana mobile token, Seeker, crashed after the airdrop. With Solana having changed its direction of motion, there is a high chance the coin could cross above $150.
Seeker (SKR), Solana Mobile’s token, crashed from $0.06 to $0.04 just after the airdrop that took place a couple of days ago. During the airdrop, the ecosystem distributed nearly 2 billion tokens valued at approximately $26.6 million at launch, giving access to over 100,000 users and 188 developers. Claimants had a window of 90 days to access and claim their allocations.
Once the airdrop was over, the Seeker token price crashed from as high as $0.06 to $0.04, as the holders started to sell the token and book in profits. Despite this crash, the token still has gains of almost 350%, which it added over the week. When Seeker lost ground and crashed hard, Solana was unmoved.
When projects built on a network lose value, while the network holds its price, it shows that the fundamentals are strong, but the deployment of the project is weak.
This is reflected on the Solana daily chart. SOL was crashing its way towards the $120 support level. However, the coin was slowed down on its way down as the fundamentals were strong and there were other projects that came on board.
On-chain analytics platform Nansen integrated an AI-powered trade execution tool, which functions on voice commands, on Solana and Base. This feature gave the users the flexibility to trade with conversational prompts. This collaboration with Nansen held the falling prices together. Now that Solana narrowly escaped crashing, it will once again try to cross the $150.
