Seeker Token Price Breaks Out, But Can It Hold?
The Seeker token price has made a sudden and unexpected move, breaking out of a months-long descending channel. As of August 5th, the price is trading near $0.00951, up roughly 52% over the past 24 hours according to CoinMarketCap. The immediate trend is bullish after the price broke above a key resistance zone at $0.01007.
But what's behind this sudden move? Trading volume has jumped significantly, with a 1,244% increase in just one day. This kind of volume usually indicates real usage or a wave of short sellers getting squeezed out at once.
According to CoinGlass data, $193.40K worth of liquidations took place over the past 24 hours, and shorts absorbed $168.36K of that. This forced buyback from liquidated shorts added fuel on top of organic demand from Solana Mobile's 'Seeker Summer' campaign.
The campaign is currently live, pushing users through loot box quests that require deploying SKR boosters. Community guides on completing the quest have been circulating widely this week.