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Mr.Arshman

06/16 17:47

SKYAI rockets 21% on Forward Industries takeover b

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The AI narrative continues to gain pace, with Nasdaq-listed company Forward Industries [FWDI] submitting a bid to acquire SkyAI, Inc. [SKYA], the parent company of the $SKYAI token. What followed was a 21% uptrend in $SKYAI in the past 24 hours amid an increase in speculative trading in the AI play. $SKYAI is among the best-performing AI tokens year-to-date (YTD), delivering about 881% gains, only second to Venice Token [VVV] at 906%. With such a strong performance, Forward submitted two non-binding proposals to the Board of Directors of SkyAI, Inc. regarding the stock. SkyAI, Inc. holds 2 million Solana [$SOL] acquired in September 2025, while FWDI is a $SOL treasury. Holders of the stock would receive 20% of SKYA’s closing price in new shares of FWDI stock. This would mean enhanced liquidity and exposure to the digital asset treasury. However, the parent company is yet to respond. As a result of this news, the on-chain buying volume of the $SKYAI token spiked by 3x, reaching about $63 million. This is because mergers often lead to price re-ratings. Moreover, the number of holders has increased by more than 4K during this period. These holders grew from around 56K to 60K, as per CoinMarketCap. $SKYAI price was attempting to break above the $0.40 resistance level, with the chart showing three consecutive highs in June. This followed four touches at the $0.15 level. The spike in buying volume was evident as the CVD increased by 174%, to about 7.24 million $SKYAI tokens. This meant about 20 million tokens had been bought in just a day. Moreover, the Stochastic Momentum Index (SMI) had reversed after briefly dipping below the neutral level.If the price can hold above $0.40, then a 126% rally back to the highs at $0.86 may follow. However, resistance levels at $0.60, $0.70, and $0.80 may present some challenges. A breakd
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