The Solana ecosystem token $COW surged by 1,547% within 24 hours, attracting market attention. However, a well-known wallet recently received a cash inflow of $50.4K, with an ROI of 2,120%, and immediately entered a reduction mode—completing 10 sell-offs within 6 minutes, with a trading volume of approximately $18.8K. The current DEX liquidity is only $386K, compared to a market cap of $6M, which is clearly insufficient. Large holders gradually exiting often put downward pressure on the price, and combined with a weak liquidity environment, the risk of sharp fluctuations in the future should not be underestimated. Investors should closely monitor on-chain fund flows and carefully assess position risks.