@lesgracie
Memecoins with task or airdrop announcements often see immediate depth shifts. Within 48 hours, buy-side liquidity increases as traders speculate on eligibility or price reaction. Depth tends to cluster around near-market bids, suggesting short-lived conviction. However, spreads often widen after initial hype, as liquidity providers anticipate reversal. Event-driven arbitrage rules can be set by tracking order book imbalance within the first 12–24 hours, then fading excess enthusiasm. The sustainability of buy-side depth depends on whether the announcement ties to real incentives or is purely narrative-driven speculation.
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