The short version
- STONK crypto is up 20% in 24 hours to $0.124, a $97 million market cap, after a new STONKS coin paired with it traded $4.3 million on its own launchpad, StonkFun.
- StonkFun burns STONK with about 60% of its fees: revenue rose to $159,364 on November 3 from $65,416 a day earlier, and 22% of all STONK is now burned.
- Next: an hourly close above the 200-hour average at $0.1302; losing $0.1122 would undo the overnight bounce.
$3.2 million in one hour: that is what STONK crypto traded on Tuesday afternoon, and it explains most of the token’s 20% gain in 24 hours. STONK trades at $0.124 at the time of writing, a market cap of about $97 million. The Solana token powers the StonkFun launchpad, where anyone can start a coin paired with STONK, SOL, tokenized stocks or almost anything else.
The Bitcoin bounce helped, but it isn’t the whole story. Three things changed since Tuesday morning:
1. StonkFun said 22% of all STONK has now been burned. 2. A new coin called STONKS, paired with STONK, launched on StonkFun and traded $4.3 million in its first day. 3. Bitcoin climbed back above $78,000 overnight, and Solana memecoins went with it.
The burn milestone landed first, at 15:55 UTC on Tuesday:
Why Is STONK Crypto Up? Its Own Launchpad Had a Meme Day
The big hour ran from 18:00 to 19:00 UTC on Tuesday (1:00 p.m. in New York). STONK’s main pool traded $3.2 million, more than in the 18 hours before it combined. The price touched $0.1268, up 9.6% within the hour.
That hour lines up with STONKS. The coin was created on StonkFun at 17:24 UTC with a starting market cap of $20,000, a new launch option, and it filled its bonding curve, the launch phase where the price rises with each buy, by 17:59 UTC. It then moved to a regular Raydium pool.
Because STONKS is paired with STONK, buyers need STONK crypto first. Every rush into the new coin is a buy of STONK too. STONKS peaked at a $1.24 million market cap and sits near $750,000 now.
The idea came from StonkFun’s own users. Half an hour before the launch, a small trader account posted this, and STONKS lists the post as its only link:
stonk just made an update where their coins can now spawn at 20k. we dont need to send the 500th launchpad. just send a runner on stonk
Copies followed within the hour: THICC, LIQUITITTY, Stonkers and others, all paired with STONK. Of the $11.1 million traded by StonkFun’s 50 busiest coins over the past day, $7.4 million went through coins paired with STONK.
Sponsored · Affiliate link
Save 10% on fees trading on FOMO
Base Camp may earn a commission if you sign up. It never affects what we write.
How Do STONK Burns Work?
StonkFun takes a fee on trades in the coins it launches. The platform says about 60% of that revenue buys STONK on the open market and burns it, removing it for good. When a coin is paired with STONK, the fee already is STONK, so it is burned without a buyback.
The meme day showed up in the numbers. StonkFun reported $159,364 in revenue for November 3, up from $65,416 a day earlier, and 803,290 STONK burned. It isn’t a record: October 29 brought in $183,726.
Since launch, 220.7 million STONK have been burned, worth about $23.4 million when they went. StonkFun’s disclaimer says buybacks are at the platform’s discretion and STONK gives holders no right to revenue, so the burn rate can change without notice.
SIDE TRAIL: Pump.fun Revenue Briefly Topped Hyperliquid, but Hyperliquid Still Owns the Week
STONK Coin Price Analysis: Can It Clear the 200-Hour Average?
STONK’s next test sits 5% above the price: the 200-hour moving average at $0.1302. That line is the average close of the last 200 hours, and STONK hasn’t closed an hour above it since October 31.
The market did its part overnight. When Bitcoin slipped to $75,736 after the US election results, STONK fell to $0.1122. It bounced from there as Bitcoin recovered to $78,488. Over the same 24 hours Solana rose 1.8%, BONK 11% and PUMP 13.5%, so STONK’s 20% beat the memecoin crowd, mostly thanks to Tuesday afternoon.
An hourly close above $0.1302 would confirm the move, with the October 30 close at $0.1357 next. Losing $0.1122 would cancel it and put Tuesday’s $0.1025 low back in play.
TRAIL MAP: Market Cap, Supply and Why “Cheap” Coins Aren’t Cheap
Even after this week, STONK is 71% below its $331 million peak market cap. The next sign of whether the meme day lasted comes early Thursday UTC, when StonkFun usually posts the revenue and burn figures for November 4.
TANG has been trading crypto since 2017. The focus is technicals, DeFi and onchain data. On the chart, that means high-timeframe support, moving averages and momentum divergences. Onchain, it means regular checkups on where the data puts the cycle. TANG once ran CryptoJungle, a free community for researching and trading together, and brings that same spirit to Base Camp as one of its co-founders.
More from TANG
