SKYAI rockets 21% on Forward Industries takeover bid – Is a 126% rally ahead?

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.

Forward Industries submits bid to acquire SkyAI, Inc.

$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.

All these indicated capital was flowing into the AI token with the price rallying from $0.35 to $0.49.

Can this move fuel $SKYAI back to its highs?

$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 breakdown below $0.40 would suggest the price may retest the lower levels. A lot of liquidity clusters had formed between $0.33 and $0.39, with the highest concentration in the $0.33-$0.36 zone.

Altogether, the proposal highlighted $SKYAI’s underlying asset value and sparked speculative buying. Therefore, a 126% rally may unfold or a downside move to $0.33.

Final Summary

• $SKYAI rallies more than 21% after an increase in speculative buying following Forward’s bid to acquire the parent company.
• $SKYAI was attempting to break above $0.40, but more liquidity was forming below the resistance level than to the upside.