Spotted an interesting token on Solana's Meteora DEX today - $SONIC is showing some solid activity.
The 24-hour numbers tell a decent story: buy volume hit $34,518 while sells came in at $24,471. Liquidity pool sitting at around $38,884, and market cap is currently at $202,446.
Buyers slightly outpacing sellers over the day. Always interesting to watch these smaller cap tokens move on Solana DEXs. The liquidity isn't deep yet, so worth keeping in mind if you're tracking this one.
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NoodlesOrTokens
· 12-06 12:52
Sonic, the buy pressure is indeed a bit stronger than the sell pressure, but with such shallow liquidity, I'm still a bit hesitant.
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ClassicDumpster
· 12-03 15:03
The order book for Sonic is so thin that this small amount of buy and sell orders doesn't mean anything at all... The liquidity is extremely shallow, a single large order can move the price significantly.
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ApeEscapeArtist
· 12-03 14:52
The buying pressure for the Sonic token is decent, but with such shallow liquidity, I'm still a bit wary... That's just how it is with small-cap tokens—a single large order can crash the price.
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BakedCatFanboy
· 12-03 14:49
I've been watching the Sonic token for a while now. The liquidity is indeed a bit risky—if a big order comes in, you have to get out quickly.
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ProofOfNothing
· 12-03 14:43
The liquidity of Sonic is way too low, the order book isn't deep at all. Even a small sell order causes slippage. Relying on buying pressure to counter selling pressure isn't dependable.
Spotted an interesting token on Solana's Meteora DEX today - $SONIC is showing some solid activity.
The 24-hour numbers tell a decent story: buy volume hit $34,518 while sells came in at $24,471. Liquidity pool sitting at around $38,884, and market cap is currently at $202,446.
Buyers slightly outpacing sellers over the day. Always interesting to watch these smaller cap tokens move on Solana DEXs. The liquidity isn't deep yet, so worth keeping in mind if you're tracking this one.