Notably, the TEA team recently gained plaudits after they successfully warded off attempts by hackers and price-manipulating bots on Solana to steal their recently raised funds stored in the project’s wallets.
Snipers on Solana are bots that target newly generated tokens. At the moment of liquidity pool creation, they buy tokens at a low price and then start selling them at a higher price as the token’s community members join.
To counteract sniper bots, the TEA team utilized help of an anti-snipe solution provider and transferred 1100 SOL in a dedicated 5g7y wallet address. After successfully eliminating the sniper bots, the TEA token’s price surged significantly as it allayed investors fears of potential vulnerability.
More so, TEA leverages automated trading techniques to support price stability. More precisely, it utilizes the DCA (Dollar-Cost Averaging) strategy using Jupiter Station, a trading infrastructure provider on Solana. The DCA strategy helps support the price and protect the asset from aggressive selling.
As of July 12, TEA is trading around the $0.000010 area with a fully-diluted market capitalization of $9.7 million. With an average daily trading volume now nearing $5 million,TEA’s Trading Volume to Market Cap ratio stands at approximately 0.515.
This ratio highlights a highly active trading market, indicating strong liquidity and considerable investor interest in TEA despite its relatively low price point.
As a result, TEA appears to have sufficient market activity to support potential upward price movements in either direction, making it a cryptocurrency worth watching for both short-term traders and long-term investors.
Catwifhat ($CWIF) has been one of the standout performers in the Solana memecoin space. Following in the footsteps of Dogwifhat, CWIF has shown impressive growth, with its market capitalization reaching $6 million. The token has been buoyed by several positive developments and strong community support, which has driven investor interest.
One of the key bullish catalysts for CWIF in H2 2024 is its recent listing on prominent decentralized exchanges, coupled with strategic partnerships within the Solana ecosystem.
Additionally, CWIF has successfully launched several community-driven initiatives and marketing campaigns that have significantly increased its visibility and adoption. These efforts are reflected in its trading volume, which has been robust, averaging around $5.8 million daily.
This news is republished from another source.
