Pump Fun Activity on Solana Experiencing Decline
In a recent tweet, on-chain analyst Darky highlighted a significant decrease in Pump Fun activity on Solana, indicating a cooling off of the memecoin mania. The number of coins bonding has plummeted near zero, signaling the potential end of the Pump Fun era.
Drop in Token Numbers
Nooman.eth, General Partner of 227Fund, also noted a decline in graduating token numbers. The figures went from 24,008 last month to 11,332 this month, 2,184 last week, 517 this week, and 186 yesterday. Daily token launches have also decreased, with overall weekly trading volume now matching levels last seen in September 2024.
Impact on Market Participation
The decline in bonding activity and token creation indicates a waning interest in the platform, affecting liquidity and market participation in Solana. The reduced transaction volumes may signal a broader cooling in the memecoin sector amid a wider market retracement.
Market Trends
The memecoin sector has experienced a 2% increase today but is down approximately 14% over the past 7 days. Significant losses were observed in TRUMP (down 52%), MELANIA (down 62%), WIF (down 54%), and FARTCOIN (down 67%) over the last 30 days. Dogecoin saw a 37% increase, while PEPE experienced a 2% gain. In contrast, Bitcoin is down 15% over the same period.
Liam ‘Akiba’ Wright
Also known as “Akiba,” Liam Wright is a reporter, podcast producer, and Editor-in-Chief at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.
