Pump.fun Revenue Don Fall 80%, Solana Meme Coin Market Dey Cool Down
Pump.fun revenue don drop 80% to $24.96 million for July, dis na im lowest monthly takings till now. Di Solana memecoin launchpad don dey decrease since January peak of $130 million: $90 million for February, $37 million for March and around $40 million from April reach June. Dis decline show say di meme coin market dey cool down generally. From July 23 to August 4, memecoin market cap don slide down 23.5% from $85 billion to $65 billion, and daily trading volume don fall 67% from $17.2 billion to $5.6 billion. For Pump.fun, daily traders drop 62% to 129,000 and volume reduce 56% to $150 million. Pump.fun own token PUMP crash over 20% below $0.30 before e recover 5.7% to $0.003021. Meanwhile, Solana (SOL) price drop from $182 to $164.75 after dem get weak US data. Solana network lead Layer 1/2 chains with $87 million revenue for July. Shipping of Solana Mobile’s Seeker smartphone to over 50 countries fit bring back ecosystem activity.
Bearish
Pump.fun dem sharp decline for revenue and the wider Solana memecoin market downturn show say investors no too dey interested again. The memecoin market cap drop 23.5% and trading volume fall 67% dey point to say demand dey weaken. PUMP price crash 20% and SOL drop from $182 to $164.75 na reflection of this bearish mood. Traders fit dey cautious for short term, wey go reduce buy-side pressure. For long term, the ecosystem developments like Solana Mobile Seeker smartphone fit help support, but the current fundamentals dey favor bearish outlook.