Today’s Solana tape is basically split into two stories: “Gaining Momentum” vs “Low Cap” and the overlap tells you where attention is concentrating. On the momentum side, the market is rewarding coins that can hold a bid while CT rotates narratives: 👉 $TROLL is leading the “established meme” pack with +32.32% on a ~$40.53M FDV, strong relative strength for something that size. 👉 $USELESS quietly staying green at scale (+9.94%, ~$101.06M FDV) is the kind of behavior you see when dips are getting absorbed instead of feared. 👉 #SPX6900 is still sitting huge (~$627.10M FDV) and only +3.08%, which reads less like “hype pump” and more like “slow grind / sticky liquidity.” Then you have the true attention magnets: low FDV coins that can move fast when flows hit. 👉 $DORO is the headline: +636.99% at just ~$372K FDV. That’s not a normal move, that’s a rotation event. 👉 $SURF also shows up twice (momentum + low cap) at ~$109K FDV with +59.85%, which usually means it’s not just a one-off candle; it’s being actively watched and traded. But here’s the part most people miss: the “Low Cap” board is not universally green. It’s choppy, selective, and brutal: $BALD -47.6% $DORY -21.26% $CLIFFORD -8.37% $NYAN -7.96% plenty of low caps are getting sold into. The winners are the ones with fresh demand (not just old bagholders exiting). You can see that in the few names holding green: $ARMY +3.75% (~$170K FDV) $DEBT +8.61% (~$142K FDV) $MARS +9.91% (~$139K FDV). The takeaway reads like an editor’s note: Liquidity is back in the trenches, but it’s not “alt season” behavior yet, it’s “sniper season.” Money is rotating into small FDV names that can trend, while larger memes with strong communities are being accumulated rather than abandoned. At the same time, a lot of low caps are still getting punished, which is exactly what a market looks like when attention is narrow and discipline matters. Stay sharp: the board is telling you this is a selective risk-on, not a market-wide green light. Follow @degensing for more.