Pump.fun (PUMP) Rebounds, Driving Capital Inflows Back Into Solana Meme Coins

Pump.fun, the primary meme coin launch platform on Solana, achieved significant milestones in January, suggesting a return of investor interest in Solana meme coins despite general market fear. Key metrics included a surge in daily new tokens created to nearly 39,000 and daily active addresses reaching 300,000, with over half being new wallets. Furthermore, the number of tokens graduating to decentralized exchanges hit a six-month high, and returning user activity also rebounded sharply.

These activities boosted Pump.fun's revenue, leading to record buyback volume for the PUMP token, with over 19,000 SOL used for repurchases on January 27 alone. This mechanism has bought back more than 21% of the total PUMP supply, supporting its price recovery, which saw a 60% gain over the past month.

Overall, the Solana meme coin market cap reached $5.9 billion, driven by specific catalysts for coins like Pudgy Penguins and MELANIA. While these signs are positive, analysts caution that most meme coins remain significantly down, indicating that a sustained recovery will require substantial new capital inflows.

(Source：BeInCrypto)