Humans—and I suspect trees—are about 70% water.
My books indicate that depending on species, season, and environment, green wood is often 50% water but can be higher, 60% or above.
The moisture meters are good to have on hand but can be inaccurate. For example, due to the natural internal moisture gradient of air drying wood, pin meters can measure the moisture near the surface but the middle of a chunk may be wetter. The deeper the pins are inserted, but better, but some wood is too hard to insert pins very deep by hand. Pins also make holes in the wood, of course.
Pinless meters are non-destructive and can measure deeper, maybe 3/4 or 1" down from the surface, but they need a flat surface to work from. Another problem is they (at least the one I have) must be told something about density of the species. Mine came with a booklet showing what calibration numbers to set for specific species, with more species on a website. It takes some time to select the correct number, at least on mine, so checking various species can be a pain. Also, there is also natural variation between different specific trees. That said, the pinless is wonderful for a quick check, especially for boards of common species.
A more scientific way to determine the absolute moisture content is the Oven Dry Method. This is destructive in that it needs to have a small sample cut from the wood, best from the center away from the ends and sides. It involves carefully measuring the weight of the sample then heating it to a specified temperature and reweighing until the weight no longer changes. A formula using the starting and ending weights will give the absolute moisture content of the wood.
I once got a quantity of ebony and the dealer coated the pieces in wax as a matter of course - he did that with most wood to defend against possible cracks. I wanted to know the true moisture content so using a sensitive calibrated scale (good to 0.01 grams), a toaster oven, and a thermocouple to monitor the heat, I did the test on several small samples cut from the middle of one piece of the ebony. It took a while but I determined the wood was dry inside to the EMC of my indoor shop environment, about 9%.

The simple formula: The Absolute Water Content = ((Weight of Wet Sample - Weight of Dry Sample) / Weight of Dry Sample) * 100%
The reason I like the method of monitoring the weight of an entire blank when air drying is it's quite accurate for the specific environment. My shop has heat and air conditioning so if I turn something, say a lidded box, and give it to someone who keeps it inside their house, the chances of warping are reduced.
Warning: a topic tangent below - but directly related to moisture in wood!
Many of us know about and make Beads of Courage boxes for kids with cancer to store their beads. Unfortunately, I've seen SO many with unforgivably sticking lids. At one symposium I checked 10 boxes turned in and the lids were stuck on 5 of them. Ack. The wood can't help it - it naturally changes with the humidity.
The guy who collects them at our club told me he has to fix most of them before taking them to the children's hospital.
Woodturners are taught to make a suction fit that makes a little "pop" when opening - a Woodturner's a badge of skill. Thing is, real people don't like suction fit. For example, no one want's to pick up a jewelry box with two hands to remove the lid. Kids with cancer and other physical problems don't need to fight with the lid of a Beads of Courage box to get it open. I started teaching and making most boxes BOC and others, with tapered lids, either inside or outside tapers, both work, EVEN if made from face grain wood.
I made this BOC box made for a little boy named Jack with an
external taper on the box. The taper inside the lid fits over the box rim.
The wood is cut from 8/4 lumber, cherry and basswood for the chip carving, layers rough turned before glueup.
(I make drawings for many turnings - if I design at the lathe by letting the wood "speak to me" it sometimes speaks in cursive.)
This drawing shows how I make an
internal taper on the box so the lid fits inside.
Both the internal and external tapered lids can always be lifted with one hand, even if the wood warps a bit with the season.
OK, I quit now...
JKJ