SKR triggered eleven consecutive funding alerts as traders betting against the token paid steep fees to keep positions open, signaling heavy downward pressure.
Imagine SKR is trading at around $0.028. Suddenly, an overwhelming majority of traders rush to bet that the price will quickly drop.
Because so many people want to bet downward, the market forces them to pay cash directly to anyone willing to bet upward. This fee hit negative 0.42% in a single hour.
Over ten minutes, eleven alerts fired as this fee stayed deeply negative, settling around negative 0.38%. This shows aggressive sellers were willing to burn money repeatedly to hold their ground.
A deeply negative fee does not guarantee the price will drop. If the price refuses to fall, those paying the fee may be forced to close their bets all at once, sparking a sudden price rally.
Don't think heavy selling guarantees the price will fall. Think short sellers are on a costly ticking clock and could get crushed if the price bounces.