Solana Price Drops 2% as Solana Mobile Confirms SKR Token Launch and Airdrop

The Solana price is down 2% in the last 24 hours to trade at $137 as the Solana Mobile announces that its SKR token will launch on January 21 at 2 a.m. UTC, with Solana Seeker smartphone users eligible to claim up to 20% of the total supply through an airdrop.

The token is designed to support Solana’s mobile ecosystem by allowing users to delegate SKR to “Guardians.” These Guardians help secure the Solana network, verify devices, and manage the decentralized app store. In return, users can earn rewards and unlock special in-app features.

According to Solana Mobile, SKR gives the community more control over how the platform grows. Token holders will help decide who can participate, what rules are followed, and how money flows within the ecosystem. Solana Mobile’s general manager, Emmett Hollyer, said the airdrop is the first step in giving users real influence over the future of the platform.

The launch follows the end of the first Seeker Season, which showed strong user activity. Over 100,000 users interacted with 265 decentralized apps, completing 9 million transactions and generating $2.6 billion in trading volume.

Solana Mobile Reveals Seeker Phone Plans

The Solana Seeker is Solana Mobile’s second blockchain-powered phone, built to support crypto apps, digital payments, and token ownership. Support for the older Saga phone ended in October after the Seeker was released.

Solana Mobile also wants to challenge the dominance of Apple and Google in the mobile app market. The company believes current app stores limit user choice and developer freedom, while Solana’s decentralized model offers a more open and flexible system.

In terms of token distribution, 57% of SKR will be available on day one. This includes 30% for airdrops, mainly for Seeker users and developers. Another 27% (2.7 billion tokens) will be unlocked at launch. From that amount, 1 billion will go to the community treasury, 1 billion to liquidity, and 700 million to growth and partnerships.

The Solana Mobile team will receive 15% of the total supply, while Solana Labs will get 10%. Several Solana infrastructure companies, including Anza, DoubleZero, Helius, and Jito, will serve as Guardians to help guide and grow the Seeker ecosystem.

Solana Eyes $160 as Bullish Cup and Handle Pattern Emerges

The Solana (SOL) 4-hour chart is showing an emerging bullish setup, indicating potential upside in the near term. A cup and handle pattern appears to be forming, a well-known continuation pattern that indicates the price may experience consolidation and minor pullbacks before a strong upward move.

The “cup” formed around $122–$124, a solid support zone tested multiple times in late December and early January. This level has proven to be a major demand area where buyers consistently step in, providing a foundation for the next potential rally.

SOL has been climbing steadily, forming higher highs and higher lows, which shows increasing buying interest. The RSI is 54.81, suggesting mild bullish momentum without reaching the overbought level, leaving room for additional gains. The recent small dip could represent the “handle,” a short-term consolidation phase before a potential breakout.

SOLUSDT Chart Analysis Source: Tradingview

When the cup and handle pattern is complete, the price will likely target a potential target near $160. Support and resistance zones further reinforce the bullish scenario. SOL has already broken through minor resistance near $135–$137, which could now act as short-term support if the price pulls back slightly.

A strong candle close above the handle’s upper boundary, ideally accompanied by rising volume, would confirm a breakout. On the downside, if SOL falls below the handle support near $132, the pattern would be invalidated, suggesting further sideways or downward movement before another attempt at a breakout.

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