STONK is facing a critical test near the $0.30 level after a week of explosive gains, even as on-chain data reveals a split between fresh and established wallets. According to crypto analytics commentator Nansen, newly active wallets moved $19.4 million into STONK on Thursday, while wallets with longer histories were selling. That divergence suggests new interest is entering the token at the same time older holders are reducing exposure, leaving traders to weigh whether the inflow marks accumulation or short-term positioning.
The token has delivered a 1,221.80% seven-day gain and was recently up 23.32% over 24 hours, trading near $0.2912. Daily trading volume reached $115.58 million, giving STONK a market capitalization near $243.85 million. Price action remains above major moving averages, and the immediate resistance zone sits between $0.2959 and $0.2970. A break above that band would put the psychological $0.30 level in focus.
Rising open interest points to stronger participation but also higher leverage risk. Funding remains positive, confirming renewed long interest, although the pace suggests moderating conviction among traders. At the same time, reported volume discrepancies in earlier wallet data, where volume remained at zero despite the $19.4 million inflow, mean traders should treat the investment figure and venue volume as separate signals. Confirmation depends on whether trading volume appears, whether older wallets keep selling, and whether fresh addresses add to their positions rather than moving on after the initial move.
