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Venture Partner Adam Cochran: "The meme craze is coming to an end" Data reveals Pump.fun token success rate is only 1.4%

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Venture Partner Adam Cochran: "The meme craze is coming to an end" Data reveals Pump.fun token success rate is only 1.4%

Recently, the meme issuance platform Pump.fun has accumulated profits exceeding 80 million U.S. dollars on Solana. However, a report shows that only 1.41% of tokens can successfully enter decentralized exchange (DEX) trading from the issuance platform.

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Creating Memes to Get Rich? Success Rate Lower Than Starting a Business

Data from Dune Analytics indicates that the success rate of tokens produced by Pump.fun entering the decentralized exchange Raydium is 1.41%, fluctuating between 1.21% and 1.21% since May, reaching a historical high of 2.56% on February 16.

"The definition of success rate is reaching a market value of $69,000 and successfully going online on a decentralized exchange, and this figure has been stagnant at 1.4%," mentioned Adam Cochran, partner at the private fund Cinneamhain Ventures, in a post on August 1, as seen in his tweet.

The Bubble Will Burst, Are We Moving Away from the Meme Craze?

Cochran further pointed out that no new coin has truly broken a fully diluted market value of $20 million. "Whenever the industry smells a new narrative in a stagnant cycle, this kind of frenzy becomes popular. But like the internet craze of the millennium and the subsequent burst of the bubble, none of these will last," he likened the meme craze to the internet craze of the millennium, believing it is part of a cyclical pattern. "All of this indicates that we are finally moving away from the meme cycle."

Another cryptocurrency commentator, Bread, stated: "Not realizing how brutal the trenches actually are." He cited some data: Pump.fun issued a total of 1.58M tokens,

with only 1.4% entering Raydium. Since its launch, the total number of tokens is 22,330, with an average of about 200 tokens per day recently.

Pump.fun Just Makes Coin Issuance Very Convenient

Anonymous cryptocurrency commentator Bunji voiced for Pump.fun on Twitter stating: "Pump.fun did not ruin meme coins, it just made the coin issuance process very convenient." According to CoinMarketCap data, the total market value of memecoins is $44.94 billion. It has decreased by 2.67% in the past 24 hours. However, the trading volume during the same period has increased by 27.29%, reaching $4.48 billion. Among the top 100 memecoins by market value, Book of Memes BOME is the only coin that has risen in the past 7 days since July 26, with a 14.79% increase and a trading price of $0.009.

Several American celebrities including Caitlyn Jenner, Iggy Azalea, and Jason Derulo have used Pump.fun to launch and promote cryptocurrencies since May.

Unveiling the Truth: Is It Too Easy to Wash Trading Volume, Are All Trends Fake?

YouTuber Antoine Rousseaux once introduced tools to quickly create meme coins and funded methods to wash trading volume. He emphasized that these meme coin battlefields are definitely not built for beginners and urged everyone to stay away.