Volume to market cap ratio
The volume to market cap ratio compares how much has been traded in a period (usually 24 hours) with the token's market cap. A token worth $100K that traded $50K in the last 24 hours has a ratio of 50%.
- Low ratio (for example below 10–20%): little interest. The token is drifting and it is hard to exit size without moving the price.
- Healthy ratio (roughly 30–100% for an active memecoin): people are trading it, there is liquidity in the order flow.
- Very high ratio (several hundred percent): either a strong narrative is moving it — or bots are trading it back and forth to look active.
The Edge Rugcheck presets ask for at least 30% on New Pairs, 50% on Final Stretch (where real demand is what completes the curve) and 35% on Migrated. On very young tokens the 24-hour volume is simply the volume since launch.
Wash trading
Wash trading means buying and selling the same token between wallets controlled by the same person to inflate volume. It costs the creator only fees, and it makes a token climb trending lists and look busy. The tell-tale signs:
- Very high volume but a holder count that barely moves.
- Many trades of similar size at regular intervals.
- Volume high but fees paid low, because bots skip priority tips and terminal fees.
Organic score
Jupiter publishes an organic score from 0 to 100 for Solana tokens. It estimates how much of the trading activity comes from real traders rather than bots, based on signals such as organic buyers and organic volume. High means the activity looks genuine; low means most of it looks automated or the token is barely traded at all.
Read it together with the token's age: a token launched five minutes ago usually has a low score simply because there is not enough history. That is why the Edge Rugcheck New Pairs preset does not use it, while Final Stretch (≥ 20) and Migrated (≥ 30) do.
Putting it together
| Signal | Real demand | Likely fake |
|---|---|---|
| Vol / MC | 30–100%+ | Very high with flat holders |
| Holders | Growing steadily | Stuck while volume grows |
| Organic score | Medium to high | Low on a token with big volume |
| Fees paid | Grows with volume | Low compared with volume |
Key takeaways
- Volume/MC measures interest; extremes in both directions deserve a second look.
- Cross-check volume with holder growth, organic score and fees paid.
- No single metric proves activity is real — look for agreement between them.