Dragonfly: 1.37B SKY Tokens Sent to Coinbase

Dragonfly_xyz shifted 1.37 billion SKY tokens valued at $9.05 million into Coinbase in a single transaction, prompting speculation over imminent selling from the 2021 withdrawal originally booked as MKR at $20.45 million.

The deposit arrives while SKY trades at $0.06 inside its Bollinger band with upper resistance at $0.08 and lower support at $0.06, as the 4-hour chart shows a bearish trend structure where EMA50 and EMA200 both sit at $0.07 serving as concrete overhead resistance; the MACD death cross reinforces downside momentum while RSI at 38.47 remains neutral and leaves room for further pressure before oversold conditions develop.

Traders tracking SKY price prediction models and crypto whale transfers now weigh the impact of this move against broader crypto market crash scenarios that could accelerate selling into the $0.06 support zone.