A Solana-based token rallied more than 100% after its development team executed an emergency relaunch following a presale manipulation incident. WET, the native token of decentralized exchange HumidiFi, surged 104.5% in 24 hours to reach $0.25. The rally came after the project successfully blocked automated scripts from dominating its second public sale attempt.
What Happened: Manipulation Discovery and Emergency Relaunch
BeInCrypto Markets data showed WET trading at $0.25 with a market capitalization exceeding $50 million. Daily volume surpassed $150 million. The token claimed the top spot on CoinGecko's trending lists, with sentiment data indicating 80% bullish and 20% bearish trader outlook.
The initial public sale launched last week through Jupiter's Decentralized Token Formation platform. On Dec. 5, blockchain analytics firm Bubblemaps revealed that a single entity identified as Ramarxyz used more than 1,000 wallets to claim 70% of the presale.
HumidiFi detailed the manipulation method in a statement: "They set up thousands of wallets, each having 1000 USDC. For each wallet, there was an instruction created, that triggered the deposit of funds into the DTF smart contract."
The team announced a complete relaunch with a new token. Jupiter stated the old token address would be voided: "As the currently deployed WET tokens are in the completed presale vaults and cannot be retrieved, a new token will be minted to facilitate the relaunch of the public sale."
The relaunch went live Dec. 8 at 10 a.m. EST with anti-sniping features including permissioned signing and increased compute units per deposit.
The sale raised 2.07 million USDC from genuine buyers, with 60,000 visitors on the DTF platform. Analysis showed 20% of depositors contributed less than the maximum $500 cap.
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Why It Matters: Restoring Fair Access
Jupiter posted that more than 4,000 users purchased WET through the platform's front end. "Based on initial wallet-age analysis, we are very confident that legitimate users at their battle stations (with rapid refresh and fast fingers) won today and only about 5% were from potentially suspicious addresses," the platform stated.
The successful relaunch restored community confidence after the initial manipulation. HumidiFi operates as a proprietary automated market maker on Solana, handling more than $1 billion in daily volume and accounting for over 35% of Solana's spot DEX activity, according to its litepaper. The protocol integrates with Jupiter, DFlow, Titan, and OKX Router.
WET also secured listings on major exchanges including Coinbase, OKX, Bybit, and Gate.
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