Meme Coin工厂泵送，Orca和Raydium Dex已成为Meme Coin Storm的中心

得益于快速交易，分散的交易所（DEX），例如Raydium，Orca和新推出的泵送工程已成为模因硬币风暴的中心

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.

由于快速交易，低费用和易于访问性，诸如Raydium，Orca和新推出的Pumpswap之类的分散交流（DEX）已成为模因硬币风暴的中心。

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?

模因硬币已成为加密市场中不可否认的现象。但是，这是一个黄金投资的机会还是只是等待破裂的泡沫？

DEXs will be fertile ground for meme coins.

DEX将是模因硬币的肥沃地面。

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改变了模因硬币的创建和交易方式，尤其是在Solana上，这是一个著名的区块链，以处理每秒65,000多个交易，只需几美分的费用。 Token LaunchPad泵的新DEX泵的推出是这种趋势的证据。

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，来自Pump.Fun的令牌必须支付6 sol，然后再转移到Raydium进行交易。但是，Pumpswap取消了这笔费用，使代币可以在其生态系统中立即进行交易。这降低了成本并保留了泵内的流动性。FUN生态系统，为模因硬币增长增长了更强的环境。

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

Raydium现在还提出了Meme Coin发射台启动Labl，以与Pump.Fun竞争。

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采用了类似于Uniswap V4和Raydium V4的自动做市商（AMM）模型，提供低的交易费用（0.25％），并消除了对流动性池创造费的需求。这鼓励用户以最低的成本创建新的代币并立即开始交易。

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.

这些事态发展激发了每周数千枚新模因硬币的爆炸。 Dune数据表明，在Pump.Fun上创建了超过870万个令牌。自推出以来，Pump.Fun平均每月有621,000多个新令牌。来自Pump.Fun的代币占Solana上发射的令牌的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还有望与代币创作者分享收入，进一步激励新项目和社区。诸如Phantom Wallet之类的工具使用户更容易访问DEX，增加流动性和交易量。

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月的总交易量达到5630亿美元，促进了模因硬币贸易，并作为将它们整合到更广泛的金融生态系统中的桥梁。

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

BNB连锁店占主导地位，自3月15日以来，交易量和费用超过了30％的市场份额，并领先于交易量和费用。

The Dark Side of Meme Coins—Rug Pulls and Volatility

模因硬币的阴暗面 - 虎裂和波动性

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上的模因硬币中的繁荣也带来了重大风险。首先，大多数模因硬币都缺乏内在价值，并且完全依赖FOMO和病毒式社交媒体运动。当炒作逐渐消失时，许多令牌会遇到灾难性的崩溃。

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.

天秤座是一款位于索拉纳的模因硬币，曾经达到了数亿美元的市值，但在2025年2月发生大规模崩溃之后，几乎跌至零。同期，索拉纳（Solana）的模因硬币交易量从2060亿美元降至995亿美元，表明这一趋势的潜力下降了。

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，随着代币的创建成本如此低，pump.fun和类似平台已成为骗子的天堂。 “地毯拉力”（开发商都会消耗流动性并消失）越来越普遍，侵蚀了投资者的信任。

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

最后，监管压力构成了重大威胁。随着当局收紧对加密货币的控制，DEX和模因硬币可能会面临严重的后果。

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.

诸如Pumpswap，Raydium和Jupiter之类的DEX对于加油模因硬币的热潮至关重要。 Pumpswap可能标志着一个转折点，帮助模因硬币在一段时间下降后恢复。但是，它仍然是一个高度挥发性的空间，如果没有彻底的研究和清晰的策略，泡沫随时都可能破裂。