Pump.fun Activity Craters 80% in Three Months, Dragging Solana Fees Lower as Traders Rotate Into Perps
The memecoin boom that once defined Solana’s identity as a high-throughput speculation machine is unraveling in real time, and Pump.fun is bearing the brunt of it. The seven-day average of Pump.fun‘s token graduation rate — the share of newly created tokens that accumulate enough market cap to list on decentralized exchanges — has fallen to…
