STONK surged 250% in 24 hours to a $140 million market cap, but the main character isn’t this coin—it’s a meme asset minting channel on Solana that first appeared with a real stock price binding. After StonkFun integrates with Raydium LaunchLab, users can issue memes that are anchored to stock prices, with the pool using tokenized stock for SOL. Yesterday, StonkFun’s daily trading volume jumped from $2 million to $30 million in the first hour after the integration—up 15x. RAY and JUP are also moving higher because of actual routing-fee revenue, not an emotional bubble. The key thing to watch is CAP. If you’re going to make a move, track two numbers: StonkFun’s daily trading volume and the spread between the stock pairing prices. If, within 48 hours, trading volume drops back below $5 million, I’m out. I’ve seen small-cap stock pair spreads widen to 12%; don’t touch pairs with pools under $100,000. The liquidation of tokenized stock is new—if there’s trouble on the U.S. stocks side, it can lose its peg, and everything goes back to trading air.