Summary
- It was reported that PumpFun's trading volume has plummeted by 94% to $170 million.
- The decrease in trading volume of Solana-based PumpFun was attributed to fatigue among meme coin traders.
- Issues such as rug pulls, influencer promotions, and insider trading allegations have negatively impacted meme coin credibility.
Solana (SOL) based meme coin creation protocol PumpFun has faced a setback. As demand for meme coins has plummeted, trading volume within the protocol has significantly decreased.
On the 4th (local time), cryptocurrency specialized media The Block reported that PumpFun's trading volume is recording $170 million. This represents a sharp decline of about 94% compared to January's peak of $3 billion.
Regarding this, The Block assessed that "The decrease in PumpFun's trading volume indicates that meme coin traders within the Solana ecosystem are experiencing fatigue. Many issues such as rug pulls, influencer promotions, and insider trading allegations have undermined the credibility of meme coins."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
