TechFlow news, according to Dune Analytics data, only 1.41% of the cryptocurrencies generated via pump.fun—a Solana-based MEme coin creation tool—have successfully launched on Raydium, a Solana decentralized finance protocol. Since May, this ratio has fluctuated between 1.21% and 1.41%.
Adam Cochran, partner at Cinneamhain Ventures, pointed out that no new token has "truly broken through" the $20 million fully diluted valuation (FDV) threshold, suggesting that "we're finally starting to wash out the Meme cycle."
Notably, several U.S. celebrities including Caitlyn Jenner, Iggy Azalea, and Jason Derulo have used the tool since May to launch and promote cryptocurrency tokens.
According to CoinMarketCap data, the total market capitalization of Meme coins currently stands at $44.94 billion, down 2.67% in the past 24 hours, while trading volume rose 27.29% during the same period to reach $4.48 billion.
