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Spotted an interesting token moving on Solana's Meteora DEX today - $WET is showing some curious activity worth noting.
The numbers tell a story: 24-hour buy volume sits at $2,945 while sells came in slightly lower at $2,724. What's really catching eyes though? The liquidity pool is relatively thin at $3,358, yet the market cap is sitting at $49.4M. That's quite the gap.
For those tracking Solana DeFi movements, this kind of volume-to-liquidity ratio usually signals either early-stage price discovery or... well, let's just say it pays to do your homework before jumping in. The buy-sell balance looks fairly even, but with liquidity that shallow, things could swing fast either direction.
Anyone else keeping tabs on Meteora's newer listings? Always wild to see how these tokens behave in their first trading cycles.