Spotted unusual activity on a Solana-based token trading through Raydium pools. The $SMD token shows some interesting imbalance in its 24-hour trading flow.

Sell pressure is outweighing buys by more than 2x—$7,968 in sell volume versus just $3,572 on the buy side. That's not exactly screaming confidence from traders. Liquidity sits at around $26K, which is thin but not catastrophically low for micro-cap tokens. Market cap hovers near $32.6K, putting this firmly in degen territory.

Contract address for the curious: F1bhjUbxsAXkKBnuAgbJLgmT5HT1W5vcnCRmJajDbonk on Solana. Whether this is early-stage accumulation or slow bleeding depends on how the next few hours play out. Raydium's been seeing more of these low-float launches lately—some moon, most fade.

As always, micro-caps on DEXs are high-risk plays. Do your own research before touching anything this volatile.