SKYAI Price Soars 150% Amid Short Squeeze and Narrative Rotation

SKYAI, an AI agent crypto token, experienced a dramatic price surge in just three sessions. From $0.0527 on August 4 to $0.099 on August 7, SKYAI's value increased by over 150%. This rapid growth was driven by a short squeeze and narrative rotation.

The influx of capital into the market led to a significant increase in volume, with a 92.99% surge to $355.20M. Open interest also rose, up 23.87% to $62.02M. Meanwhile, shorts absorbed the majority of $1.70M in 24-hour liquidations.

Despite this impressive breakout, SKYAI remains down over 96% from its May 2026 all-time high. Furthermore, the top 100 wallets control a substantial 71.62% of total supply, indicating a concentrated and potentially volatile market.