Stonkpile/Backpack/no 24/7 oracle
13 coins are priced in ProShares UltraPro Short QQQ.
SQQQ is doing $1.78M of 24-hour volume as a quote asset, across $71k of liquidity. These are the coins using it as their unit of account.
SQQQ contractcheck it on Solscan
Is SQQQ what it says it is?
Five arithmetic checks on the tokenized stock itself, before you look at anything quoted against it.
Metadata is served from Backpack's own domain, which is how this index separates real tokenized stocks from the hundreds of lookalikes that simply put the name in their title.
Deep enough that a normal trade will not move the price much.
Pyth only publishes SQQQ during the US session. Once the closing bell goes there is no independent reference price, and that is when on-chain quotes drift furthest from fair value.
Only two venues. Liquidity is concentrated.
Modest holder base for a tokenized equity.
These are arithmetic checks on public data, not advice. They tell you what the numbers look like, not what to do about them.
What is priced in it
Turnover is 24-hour volume divided by the liquidity behind it. Anything far above about 5x is churning faster than real demand usually does. Each row carries the coin’s contract address so you can copy the right one. It identifies the coin and says nothing about whether it is any good.
| Coin | Venue | Liquidity | 24h volume | Turnover | 24h |
|---|---|---|---|---|---|
| 1 BOBO | raydium | $11k | $548k | 50.3x | -74.2% |
| 2 HEDGE | raydium | $20k | $460k | 23.1x | -1.8% |
| 3 BUBBLE | raydium | $10k | $287k | 28.0x | -73.6% |
| 4 MEMES | raydium | $5k | $169k | 36.0x | -95.1% |
| 5 ˢʰᵒʳᵗ | raydium | $4k | $147k | 35.0x | -95.5% |
| 6 SHORTCAT | raydium | $5k | $72k | 13.4x | -92.3% |
| 7 ber | raydium | $4k | $44k | 11.2x | -96.2% |
| 8 SS | raydium | $4k | $23k | 5.8x | -96.5% |
| 9 NASDAQ | raydium | $4k | $15k | 3.6x | -95.2% |
| 10 QQQ | raydium | $4k | $14k | 3.6x | -96.4% |
The biggest one: BOBO
BOBO is the largest coin quoted against SQQQ right now. Same checks, applied to it.
Each dollar of liquidity is turning over 50 times a day. Real demand rarely does this. It usually means incentivised volume or wash trading, so the headline volume number is not telling you what it appears to.
Thin. Small trades only.
Created in the last week. The overwhelming majority of pools this young go to zero.
These are arithmetic checks on public data, not advice. They tell you what the numbers look like, not what to do about them.
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