Deep Dive
1. Relaunch Success & Fair Distribution (Bullish)
Overview: WET’s price surged after HumidiFi voided a bot-sniped presale and relaunched on December 8 with anti-snipe measures. The new sale raised $2.07M USDC from 4,000+ genuine users (HumidiFi).
What this means:
- Trust restored: Anti-bot features (e.g., permissioned signing) reduced suspicious wallets to ~5%, per Jupiter data.
- Scarcity narrative: Only 30M tokens (3% of max supply) are circulating, vs. 230M planned.
What to watch: Claim schedule for remaining tokens and staking utility launch.
2. Exchange Listings Boost Liquidity (Bullish)
Overview: WET listed on OKX, Bybit, and Gate.io on December 9–10, with Coinone’s KRW pairing going live December 11.
What this means:
- Accessibility: Direct KRW trading on Coinone – South Korea’s 3rd-largest exchange – could unlock retail demand.
- Liquidity tailwind: 24h volume hit $277M (4.15x market cap), signaling sustainable trading depth.
What to watch: Post-listing sell pressure from early buyers; WET’s market cap ($67M) remains 95% below Uniswap’s $3.4B.
3. Macro Sentiment & Solana Momentum (Mixed Impact)
Overview: WET rode Solana’s 5.2% daily gain and broader optimism around today’s expected 25bps Fed rate cut.
What this means:
- Beta play: As Solana’s top DEX ($1B daily volume), WET benefits from SOL’s traction.
- Risk: Fear & Greed Index (30/100) shows weak market-wide conviction – a hawkish Fed pivot could reverse gains.
Conclusion
WET’s surge reflects project-specific catalysts (relaunch, listings) amplified by Solana’s momentum and macro bets. While the token’s $67M valuation leaves room vs. rivals, watch for profit-taking near $0.33 (ATH) and FOMC outcomes.
Key watch: Can WET hold $0.25 support post-FOMC, or will volatility spike on Coinone’s KRW listing?