STONK rallies as token holders grow, but will spot selling weigh on the price?

Stonkfun.xyz [STONK], the native token of the token launch platform, saw high capital inflows recently, pushing its price up on the charts. The altcoin, which was up 15% over the last 36 hours, seemed to be moving in a stronger direction than its competitor, Pump.fun [PUMP], at press time. Capital flows across on-chain and off-chain segments have contributed massively to the asset’s recent performance. While the outlook has been strongly optimistic, profit-taking in the spot market might remain a non-negligible factor in STONK’s short-term performance. STONK sees hike in capital inflows The surge in token holders has been one key factor behind the price rally.

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