The typical reason for this is the transducer. It is bonded to the inner hull in the engine compartment and the bond has developed a crack in it. Any voids interfer with the sounding and the result is loose of bottom which result in a high depth reading.
Most folks replace the transducer with either a exterior mounted on or bonding a new one near the old one.
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1997 Silverton 362, 7.4 Crusaders
1997 2400 SCR, 5.7 Vortec / Bravo 2
Mike
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