What is liquidity?
Liquidity is the pool of funds available to buy and sell a token. Deeper liquidity means you can trade larger amounts without moving the price much.
For a Pump.fun or Solana token, liquidity usually refers to the SOL and tokens locked in its trading pool. Thin liquidity means even a small sell can crash the price, and it makes a token easy to manipulate.
Liquidity depth and liquidity relative to market cap are two of the heaviest signals in the PumpScore, because they strongly affect how safely a token can actually be traded.