In recent developments, 98.6% of Pump.fun tokens failed to gather enough liquidity for listing on Raydium, indicating a possible end to the meme coin cycle. No new projects have reached a fully diluted valuation (FDV) of $20 million, according to Adam Cochran from Cinneamhain Ventures.
Despite low liquidity, demand for meme coins on Solana remains high, with Pump.fun’s daily revenue peaking at $1.47 million in May 2024. The total market capitalization of meme coins stands at $43.9 billion, though it saw a 3.4% decrease recently.
MakeNowMeme’s account on X was temporarily frozen but is now restored. Meme coin trading volume increased by 17% in the last 24 hours, highlighting ongoing interest in this volatile market.
The meme coin sector experienced significant growth in early 2024, with top-10 assets yielding average returns of 1834.22%. This demonstrates the sector’s volatile yet lucrative potential, stressing the need for investors to stay informed and adaptable.
