According to Lookonchain, @SolportTom publicly spent $700 to acquire 246,000 GLONK tokens, leading to a swift rise in GLONK’s market capitalization to $17 million. This high-profile transaction was executed transparently via his public wallet, increasing market confidence and driving significant trading volume. The sudden price movement and liquidity inflow present both new trading opportunities and heightened volatility risks for short-term traders. Source: Lookonchain on Twitter, May 14, 2025.