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## $WET 2x Thesis: Solana Spot DEX Dominance → Token Capture **Price Target**: $0.40 (MC **$92M**, FDV **$400M**) in 1-3 months. Current: **$0.203** (MC $46M, +7% 24h vol $96M). [CoinGecko 2025-12-14] ### Bull Case (Key Drivers) - **DEX Leadership**: **35%+ Solana spot share** ($1B+ daily peaks), outpacing Raydium/Orca. Prop-AMM edge sustains fees → $WET staking rebates demand (auto-discounts per trade). Revenue scales with vol. - **CEX Momentum**: Live on Binance/OKX/Bybit/Coinbase (12 pairs SPOT/PERP since Dec 9). Perps unlock leverage trading → vol spike, price discovery. - **Tokenomics Flywheel**: 23% circ. (230M/1B), insiders vest 2yrs. Utility > memes → hold/stake pressure as TVL grows. Peers (e.g., Raydium MC $500M+) undervalued at current FDV. - **Ecosystem Tailwinds**: Solana DEX wars (Meteora $602M 24h, total ~$2B). $6.1M funding + 4x presale gains signal conviction. - **Catalysts**: Launchpool ends Dec 17 → unlocks buying; no near-term cliffs. | Metric vs Peers | $WET | Raydium (RAY) | Orca (ORCA) | |-----------------|------|---------------|-------------| | MC | $46M | ~$500M | ~$150M | | 24h DEX Vol | 35% share | $467M | $399M | | Listings | 7 CEX | Mature | Mature | **Probability**: 60% (vol-dependent). **Risks**: Bot/sybil backlash, Solana dump, competition. Not financial advice—DYOR. Monitor DEX share/vol.