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After a major exchange launched spot trading, the project team tweeted claiming that it has nothing to do with Meme coins—how does this logic not add up? The exchange's decision to launch spot trading couldn't have escaped the project's market signals. From launching spot to issuing a clarification tweet, turning around so quickly, it all feels a bit suspicious. Market participants need to keep their eyes open; the gap between the exchange's listing and the project's public statements often reflects the true state of information. At such times, intraday data and on-chain transactions are the most honest teachers—spot liquidity, position distribution, large holder movements—don't miss any of them.