Only 1.41% of Meme coins were successfully launched on Raydium via pump.fun
Data from Dune Analytics shows that only 1.41% of the encrypted tokens generated by the Meme coin creation tool pump.fun on the Solana chain have successfully launched on the Solana protocol Raydium. Adam Cochran, a partner at Cinneamhain Ventures, pointed out that no new coin has "truly broken" the fully diluted valuation (FDV) level of $20 million, indicating that "we are finally washing away the Meme cycle." It is worth noting that many American celebrities, including Caitlyn Jenner, Iggy Azalea, and Jason Derulo, have used the tool to launch and promote encrypted tokens since May.
According to CoinMarketCap data, the total market value of Meme coins is currently $44.94 billion, a decrease of 2.67% in the past 24 hours, but the trading volume has increased by 27.29% to $4.48 billion during the same period.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
BGB holders' Christmas and New Year carnival: Buy 1 BGB and win up to 2026 BGB!
Bitget Trading Club Championship (Phase 20)—Up to 2400 BGB per user, plus a RHEA pool and Mystery Boxes
Subscribe to ETH Earn products for dual rewards exclusive for VIPs— enjoy up to 8% APR and share 30,000 USDT!
Bitget Spot Margin Announcement on Suspension of ICNT/USDT, PROMPT/USDT, CAMP/USDT, FARTCOIN/USDT, PEAQ/USDT Margin Trading Services
