I don't believe daily volume vs total float is any technical sign for a bottom or lack thereof.
What's more important (IMO) is the actual candlestick formed on a high volume day. If SKUL formed a Hollow Red Candle (closing price finished above the opening price, on a losing day), instead of a Filled Red Candle (closing price finished below the opening price, on a losing day), that could have possibly signaled a bottom. Typically a HRC signals a change in sentiment, especially when followed by a White Candlestick (winning day). However, w/ the closing price still well below the opening price & the candle stick having a large real body, it doesn't look like the bottom's in yet.....Take a look at how it traded on Sep 13, Nov 2, Feb 8th, & the days following those two FRC (Sep 13 & Nov 2) w/ large real bodies & HRC (Feb 8th).
My GUESS....I think in the next few trading days, the stock will trend towards today's 5.06 low & possibly break into the 4's. If it doesn't break 5.06, it may trend back up near today's opening price or maybe even the HOD. But shortly after it reaches those level's, it'll likely pullback & test the 5.06 low again......With a lack of forward guidance outside of Q1, SKUL will continue to sell off & see new lows, IMO.