Is the Solana meme season over? Pump.fun's daily volumebig dump82%, with a success rate of only 1%

The Solana meme season seems to be gradually cooling down. According to The Block, the daily volume of Solana Token issuance platform Pump.fun has dropped to the lowest level since last Christmas, compared to the peak volume three weeks ago, it has dropped by 82%. In addition, The Block also pointed out that the peak market capitalization of the Solana ecosystem has shown a gradual drop, indicating a decreased enthusiasm for meme coins in the market. In this round of the Bull Market, the well-established public chain Solana has become an excellent breeding ground for meme coins due to its low Money Laundering and smooth trading experience. The Token issuance platform Pump.fun has detected investors' enthusiasm for meme coins, not only launching the "one-click coin issuance" function, but also allowing users to issue meme coins for free, continuing to ignite the trend of mass coin issuance in the Solana ecosystem. Pump.fun's daily volume has plummeted by 82% to the lowest since Christmas. However, the recent meme craze on Solana has shown a noticeable cooling trend. According to The Block, since the listing of meme coins from Pump.fun to the decentralized exchange Raydium on the 6th, the daily volume has dropped to $560 million. This data is the lowest level since Christmas 2024, dropping by 82% compared to the peak volume of $3.13 billion three weeks ago. Not only that, even the "Token graduation rate" of Pump.fun (the probability of issuance to Raydium) has also dropped, with only 1.04% of Pump.fun Tokens successfully issued to Raydium last week, compared to 1.54% and 1.59% two weeks before. In addition, the total daily tips of Jito validators in the Solana ecosystem dropped to 23,800 SOL (about 4.8 million US dollars) last week. This is a decrease compared to the previous two weeks, with data of 42,000 SOL (about 9.9 million US dollars) and 68,500 SOL (about 17.5 million US dollars) respectively. As users usually pay tips to Jito validators to speed up transactions, the decrease in data indicates a weakening in transaction activity. The peak market capitalization of Solana's meme coins is gradually decreasing. Furthermore, The Block pointed out that the meme coin market on Solana is undergoing a process of "euthanasia roller coaster," meaning that after experiencing a wave of significant rallies at the beginning, the peak values of each subsequent rally are gradually dropping. This trend can be traced back to the issuance of $TRUMP on January 18, with the Token's FDV reaching 75 billion US dollars at one point, followed by the issuance of $MELANIA with a market cap of 13 billion US dollars. Subsequently, the founder of the Vine platform launched $VINE with a peak market cap of nearly 500 million US dollars; a few days later, the co-founder of Venmo issued $jellyjelly with a peak market cap of 2.5 billion US dollars; and the recently launched $JAILSTOOL, promoted by Barstool Sports founder Dave Portnoy, reached a peak market cap of about 2.2 billion US dollars. The gradual drop in the peak market capitalization of Solana meme coins at different times indirectly indicates that the craze in the Solana meme coin market is waning, and speculative sentiment is gradually cooling. Furthermore, with Binance Coin (BNB) founder Zhao Changpeng recently interacting with the test Token $TST on the community platform X, and the subsequent series of listings and promotions on the BNB Chain official, there seems to be a flow of funds into the BNB Chain. According to Defillama, Pancakeswap, the leading DEX protocol on the BNB Chain, has reached a 24-hour volume of 302 million US dollars and a 7-day volume of 2.1207 billion US dollars, surpassing Uniswap, Raydium, Orca, and other well-known DEXs, indicating the exceptional popularity of BNB Chain in the recent period.