STONK plunges 26% after record above $0.30
- —STONK fell 26% to $0.22 after a record above $0.30 the previous day
- —The largest trader sold $30 million worth of tokens at a $3.8 million profit
- —Influencers locked in up to $78,000 in profit, adding pressure
- —About 15% of STONK's supply had been burned as of September 14
Why it matters: The reflection-token model is gaining traction, but platform competition and pressure from early holders make such assets extremely volatile.
Source: Cryptopolitan