Meme Coin工廠泵送，Orca和Raydium Dex已成為Meme Coin Storm的中心

得益於快速交易，分散的交易所（DEX），例如Raydium，Orca和新推出的泵送工程已成為模因硬幣風暴的中心

Decentralized exchanges (DEXs) like Raydium, Orca, and the newly launched PumpSwap have become the center of the meme coin storm thanks to fast transactions, low fees, and easy accessibility.

由於快速交易，低費用和易於訪問性，諸如Raydium，Orca和新推出的Pumpswap之類的分散交流（DEX）已成為模因硬幣風暴的中心。

Meme coins have become an undeniable phenomenon in the crypto market. But is this a golden investment opportunity or just a bubble waiting to burst?

模因硬幣已成為加密市場中不可否認的現象。但是，這是一個黃金投資的機會還是只是等待破裂的泡沫？

DEXs will be fertile ground for meme coins.

DEX將是模因硬幣的肥沃地面。

DEXs have changed the ways meme coins are created and traded, especially on Solana—a blockchain renowned for handling over 65,000 transactions per second with fees of just a few cents. The launch of PumpSwap, the new DEX from token launchpad Pump.fun, is evidence of this trend.

DEX改變了模因硬幣的創建和交易方式，尤其是在Solana上，這是一個著名的區塊鏈，以處理每秒65,000多個交易，只需幾美分的費用。 Token LaunchPad泵的新DEX泵的推出是這種趨勢的證據。

Earlier, tokens from Pump.fun had to pay 6 SOL before being transferred to Raydium for trading. However, PumpSwap has eliminated this fee, allowing tokens to be traded immediately within its ecosystem. This reduces costs and retains liquidity within the Pump.fun ecosystem, fostering a stronger environment for meme coin growth.

此前，來自Pump.Fun的令牌必須支付6 sol，然後再轉移到Raydium進行交易。但是，Pumpswap取消了這筆費用，使代幣可以在其生態系統中立即進行交易。這降低了成本並保留了泵內的流動性。 FUN生態系統，為模因硬幣增長增長了更強的環境。

Raydium has also now come up with meme coin launchpad LaunchLab to compete with Pump.fun.

Raydium現在還提出了Meme Coin發射台啟動Labl，以與Pump.Fun競爭。

Additionally, PumpSwap and other DEXs have adopted an Automated Market Maker (AMM) model similar to Uniswap v4 and Raydium v4, offering low trading fees (0.25%) and eliminating the need for liquidity pool creation fees. This encourages users to create new tokens with minimal costs and start trading instantly.

此外，Pumpswap和其他DEX採用了類似於Uniswap V4和Raydium V4的自動做市商（AMM）模型，提供低的交易費用（0.25％），並消除了對流動性池創造費的需求。這鼓勵用戶以最低的成本創建新的代幣並立即開始交易。

The developments have fueled an explosion of thousands of new meme coins each week. Dune data shows that over 8.7 million tokens have been created on Pump.fun. Since its launch, Pump.fun has averaged over 621,000 new tokens per month. The tokens from Pump.fun accounted for 61% of the tokens launched on Solana.

這些事態發展激發了每週數千枚新模因硬幣的爆炸。 Dune數據表明，在Pump.Fun上創建了超過870萬個令牌。自推出以來，Pump.Fun平均每月有621,000多個新令牌。來自Pump.Fun的代幣佔Solana上發射的令牌的61％。

Moreover, PumpSwap also promises to share revenue with token creators, further incentivizing new projects and communities. Tools like Phantom Wallet make it easier for users to access DEXs, increasing liquidity and trading volume.

此外，Pumpswap還有望與代幣創作者分享收入，進一步激勵新項目和社區。諸如Phantom Wallet之類的工具使用戶更容易訪問DEX，增加流動性和交易量。

With a total trading volume reaching $563 billion in January 2025, DEXs are facilitating meme coin trade and serving as a bridge to integrate them into the broader financial ecosystem.

DEX在2025年1月的總交易量達到5630億美元，促進了模因硬幣貿易，並作為將它們整合到更廣泛的金融生態系統中的橋樑。

BNB Chain dominates the DEX market, surpassing 30% market share and leading in trading volume and fees since March 15.

BNB連鎖店占主導地位，自3月15日以來，交易量和費用超過了30％的市場份額，並領先於交易量和費用。

The Dark Side of Meme Coins—Rug Pulls and Volatility

模因硬幣的陰暗面 - 虎裂和波動性

The boom in meme coins on DEXs also comes with significant risks. Firstly, most meme coins lack intrinsic value and rely entirely on crowd FOMO and viral social media campaigns. When the hype fades, many tokens experience catastrophic crashes.

DEXS上的模因硬幣中的繁榮也帶來了重大風險。首先，大多數模因硬幣都缺乏內在價值，並且完全依賴FOMO和病毒式社交媒體運動。當炒作逐漸消失時，許多令牌會遇到災難性的崩潰。

LIBRA, a Solana-based meme coin, once reached a market cap of hundreds of millions of dollars but nearly collapsed to zero after a massive crash in February 2025. During the same month, Solana’s meme coin trading volume plummeted from $206 billion to $99.5 billion, indicating a potential downturn in this trend.

天秤座是一款位於索拉納的模因硬幣，曾經達到了數億美元的市值，但在2025年2月發生大規模崩潰之後，幾乎跌至零。同期，索拉納（Solana）的模因硬幣交易量從2060億美元降至995億美元，表明這一趨勢的潛力下降了。

Secondly, with such low token creation costs, Pump.fun and similar platforms have become a haven for scammers. “Rug pulls”—where developers drain liquidity and disappear—are increasingly common, eroding investor trust.

其次，隨著代幣的創建成本如此低，pump.fun和類似平台已成為騙子的天堂。 “地毯拉力”（開發商都會消耗流動性並消失）越來越普遍，侵蝕了投資者的信任。

Lastly, regulatory pressures pose a major threat. As authorities tighten control over cryptocurrencies, DEXs and meme coins could face severe consequences.

最後，監管壓力構成了重大威脅。隨著當局收緊對加密貨幣的控制，DEX和模因硬幣可能會面臨嚴重的後果。

DEXs like PumpSwap, Raydium, and Jupiter have been crucial in fueling the meme coins craze. PumpSwap could mark a turning point, helping meme coins on Solana recover after a period of decline. However, it remains a highly volatile space where the bubble could burst at any moment without thorough research and clear strategies.

諸如Pumpswap，Raydium和Jupiter之類的DEX對於加油模因硬幣的熱潮至關重要。 Pumpswap可能標誌著一個轉折點，幫助模因硬幣在一段時間下降後恢復。但是，它仍然是一個高度揮發性的空間，如果沒有徹底的研究和清晰的策略，泡沫隨時都可能破裂。