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Starknet's STRK token just took a brutal 9.09% hit in the last 24 hours, lagging way behind the broader market recovery. What's going on?
The selloff looks like a textbook case of profits being locked in. Remember that insane 110% pump from November 13th to 21st? Yeah, those early birds are cashing out hard now, especially around the 0.28 level where resistance got nasty.
Technically speaking, things got messy when STRK broke below the critical 0.15 pivot point. That breakdown triggered a cascade of stop losses and probably scared off some of the weaker hands who jumped in during the rally.
Add in some fresh token unlocks hitting circulation, and you've got a perfect storm of selling pressure. Classic supply shock meeting profit-taking greed.
The question now: is this just a healthy correction after that monster run, or are we looking at a deeper retracement? That 0.15 level just became the line in the sand.