$ORCA at $2, do you dare to chase?

24-hour surge of 90%, trading volume skyrocketed by 7339%, from $0.95 directly to $1.82, peaking at $2.03. The market is crazy, retail investors are exploding, some are shouting “short squeeze,” others are calling “take profit.” But here’s the question—how can a DEX token with only $250 million in TVL and a market cap of just $110 million double in a day?

First, look at the surface: the rise makes you doubt life itself.

In the past 24 hours, ORCA is up 90.3%, 7 days +102.7%, 14 days +105.6%. Trading volume jumped from less than $10 million to $688 million, an increase of 7339%. Price soared from $0.95 to a high of $2.03, now pulling back to around $1.82.

First thing: all news is a catalyst.

On April 20, Orca’s official team experienced a Vercel security incident, but they responded extremely quickly—rotated all deployment keys, with zero impact on protocol and user funds. Soon after, Orca launched Vaults in collaboration with Kamino, dynamic Tick Arrays to reduce pool creation costs, liquidity locking tools, and also listed on PBXearth’s air quality market pools. Trading volume on Korean exchanges like Up surged abnormally, whales bought large orders combined with short squeezes.

Second thing: fundamentals are ridiculously strong, but valuation is laughably low.

Orca is the oldest AMM DEX on Solana, positioned as “the most user-friendly LP terminal.” TVL is $254.34 million, 24h trading volume $71.47 million, annualized fees $39.8 million, annualized revenue $4.79 million. P/F ratio is only 1.4x—compare it to Uniswap, and the efficiency is unbelievable. Circulating supply is 60.79 million tokens, market cap just $110 million, FDV $137 million. What’s the concept? A top Solana DEX, with valuation lower than a meme coin.

Third thing: technicals are explosive, but risks are also at the maximum.

1H/4H/daily all show golden crosses, moving averages all signal buy, RSI is in overbought territory but the trend still has room to run. Short-term support at $1.60–$1.70, strong support at $1.40; resistance at $2.01–$2.03, a breakout could quickly target $3+. But note—24h gains are huge, long upper shadows appear on candles, profit-taking pressure is intense, and a 20-30% correction could happen at any time.

On one side: 90% violent surge, strong fundamentals, P/F only 1.4x.

On the other: token unlock risks, impermanent loss, regional trading concerns, speculative rotation.

Key level: $1.60, the last line of defense for bulls.

If you’re an aggressive trader: try small positions in the $1.75–$1.82 range, set stop-loss at $1.60, exit immediately if broken, max drawdown 8%. First target $2.20, after breakout add positions aiming for $2.50–$3.00. Keep position size at 5–8% of total funds, don’t be greedy.

If you’re a conservative trader: wait for a pullback! Build positions in stages at $1.50–$1.60, stop-loss at $1.40, use trailing stops.

If you’re shorting or watching: don’t short now, volume and price action are too strong, easy to get squeezed further. Wait for a clear shooting star or a volume-driven bearish candle on the daily chart before considering.

This round of Solana DeFi revival’s true alpha isn’t those meme coins everyone shouts about, but the undervalued, income-generating, moat-having, veteran protocols that the market has forgotten.

Today, ORCA proved with action one thing: Solana’s top DEX will never be forgotten. #加密市场行情震荡 $ORCA