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Spotted some interesting movement on $CHOPPY over at Raydium's Solana DEX lately. The 24-hour trading pattern tells a pretty straightforward story here.
Buy-side volume clocked in at $1,832, while sellers pushed through $2,816 - bit more selling pressure than buying appetite right now. What caught my eye though? The liquidity pool sitting at $33,032 against a market cap hovering around $51,919. That's actually a decent liquidity-to-MC ratio compared to some of the ghost towns I've seen on Solana lately.
Not financial advice obviously, but these metrics paint a picture of a token that's still got some juice in the pool. Whether that translates to upside or just more chop (pun intended) depends on if those buyers show up. The liquidity depth means you can probably enter/exit without getting completely wrecked on slippage, which is more than I can say for half the tokens floating around DEXs these days.
Anyone else tracking this one? The volume spread suggests some folks are taking profits, but the LP hasn't been rugged yet - always a plus in this ecosystem.