Has Solana MEME cooled down? I compared the data of two dashboards on Dune and found a few simple facts: 1. Pump Fun's market share returns to its peak 2. Pump Fun's daily earnings are still around 1M 3. It hasn't reached the stage of 'cooling off' yet one ️⃣ Proportion of Pump Fun Share In July of this year, based on the number of newly deployed tokens, Bonk Fun held a market share of nearly 70%; After more than three months, bonk fun can almost be ignored; During the same period, the market share of pump fun returned to a terrifying 96%. Round and round, everyone returns to the familiar pump fun trench? The vitality of this pump fun is indeed powerful, and I have to accept it. two ️⃣ revenue data The platform revenue of Pump Fun has been declining from 1M/day at the beginning of this month to 0.75M/day in recent days. As a comparison, the peak period (January 2025) is around 5M; From April to June, it is at 1.5M. There is indeed a decrease, but the absolute value is not small either. The strong rise of Bonk Fun in July and August was a low point, with a daily growth rate of 0.2M. three ️⃣ other numerical values Graduation rate: 0.8% yesterday, considered normal; Weekly transaction volume: 700M, relatively stable in the past two months Number of transaction wallets: approximately 100000 per day, slightly reduced four ️⃣ abnormal data From my personal perception, I noticed an abnormal data: the highest market value of graduation tokens. For example, in the past 24 hours, the graduation token with the highest market value, SAME, had a high point of only 3.2M Others are less than 1 million To be honest, the threshold I set for filtering MEME coins before was 5M personal assessment Despite such a bleak market, there are still many people engaging in PvP on the blockchain; It is estimated that for these active wallets, whether they are DEV or P young players, this should be a way of life that is not closely related to the market trend. The story of the new launch platform cannot be told anymore. Everyone collectively shrinks their front line and returns to the most familiar battlefield and where their dreams began: pump fun. The starting point (5M) that was once selected has become an almost unattainable goal today. If you want to continue participating, you need to start from a lower market value. How low? Low to the dust. At the same time, the short-term market value that a meme coin can reach has also been significantly compressed. The combination of these two points is: There is no significant wealth effect; Not friendly to large funds. Or in other words, there is no longer a chance for overnight wealth or single currency A8. But is there anyone who can continue to make money in this market? I don't know, I'm curious. If it is already a bear market, then entering from this moment is also a good opportunity.