Why Do Tokens with the Same Contract Address Have Different Prices?

On decentralized exchanges (DEXs), each trading pair has its own liquidity pool. The ratio of the two tokens in the pool determines the trading price. If a pool has low liquidity, large buy or sell orders can significantly affect the token price, leading to price differences across different pools. For instance, you may notice variations in price between Uniswap V2 and V3 pools. You can identify different pools by searching for specific pool addresses.