泵上的Memecoin热潮似乎已经用光了

泵上的Memecoin热潮似乎已经用完了，该平台的代币生存率连续第四周暴跌了1％。

The memecoin craze on Pump.fun seems to be fizzling out, with the platform’s token survival rate dropping below 1% for a fourth consecutive week.

Fum.Fun上的Memecoin热潮似乎正在消失，该平台连续第四周，该平台的代币生存率下降了1％。

According to data from Dune Analytics, Pump.fun’s so-called ‘graduation rate’ – the percentage of tokens that successfully transition from the incubation phase to full tradability on a Solana decentralized exchange (DEX) – has dropped to record lows.

根据Dune Analytics的数据，Pump.Fun所谓的“毕业率”（成功地从孵化阶段过渡到完全可交易性的代币的百分比已经下降到记录低点。

To graduate, a token must meet specific liquidity and trading benchmarks, which vary depending on the total value locked (TVL) in the Solana ecosystem. Since February 17, this rate has remained below 1%, marking the first time in the platform’s history that its success rate has been this bleak over an extended period.

要毕业，代币必须符合特定的流动性和交易基准，根据Solana生态系统中锁定的总价值（TVL），它们的不同。自2月17日以来，这种速度一直保持在1％以下，这标志着该平台历史上的第一次成功率是长时间的这种黯淡。

Historically, Pump.fun’s graduation rate was never particularly high. It peaked at just 1.67% in November 11, 2024. However, at the time, the sheer volume of tokens launched meant thousands still made it to market. During that week alone, 323,000 tokens were created, with approximately 5,400 successfully graduating into the Solana DeFi ecosystem.

从历史上看，Pump.Fun的毕业率从来都不是特别高。它在2024年11月11日达到了1.67％的峰值。但是，当时，发射的代币量的庞大意味着数千人仍在市场上。仅在那一周中，创建了323,000个令牌，大约有5,400个成功毕业于Solana Defi生态系统。

[TECH] REPORT | MemeCoin Creation Platform, https://t.co/fMWoaORGuI, Collected $525,000 in Average Daily Fees, Says Solana Q2 2024 Report: Solanas DeFi TVL fell by 9% QoQ to $4.5 billion, ranking it fourth among networks i.. https://t.co/OyX31nhtpO via @BitcoinKE

[技术]报告| Memecoin创建平台，https：//t.co/fmwoaorgui，收取了525,000美元的平均每日费用，Solana Q2 2024报告：Solanas Defi TVL下跌了9％QOQ至45亿美元，在网络I .. Https://t.co/oyx31n的网络中排名第四

— Top Kenyan Blogs (@Blogs_Kenya, July 24, 2024

- 肯尼亚顶级博客（@blogs_kenya，2024年7月24日

Declining Interest and Market Challenges

兴趣和市场挑战下降

However, with a decline in token creation on both Pump.fun and Solana, weekly token graduations have averaged just 1,500 in the past month.

但是，随着泵和索拉纳（Fum.Fun）和索拉纳（Solana）的代币创建下降，在过去一个月中，每周的代币毕业仅1,500次。

This sharp drop reflects the weakening enthusiasm for memecoins, which are increasingly viewed as speculative lottery tickets or opportunistic cash grabs by their creators. Even politically-affiliated tokens have been hit hard. A memecoin associated with former U.S. President Donald Trump has lost 84% of its value since its January 19 peak, according to data from CoinGecko.

这种急剧的下降反映了对成年人的热情，越来越多地将其视为投机性的彩票票或创作者的机会主义现金。即使是政治上的令牌也受到了重大打击。根据Coingecko的数据，与美国前总统唐纳德·特朗普（Donald Trump）相关的一家纪念物已经损失了其价值的84％。

The downturn in the memecoin market continues despite broader macroeconomic factors that could have provided support. In February, Matrixport analysts linked Bitcoin’s struggles to a stronger U.S. dollar, which had tightened liquidity.

尽管宏观经济因素可以提供支持，但Memecoin市场的低迷仍在继续。 2月，Matrixport分析师将比特币的挣扎与更强大的美元联系起来，这加剧了流动性。

Since late February, the U.S. Dollar Index (DXY) has weakened, dropping from a high of 107.61 to 103.95 in mid-March. However, despite this shift, memecoins – one of the strongest narratives of the bull market – show little sign of recovery.

自2月下旬以来，美元指数（DXY）削弱了，从3月中旬的107.61下降到103.95。然而，尽管发生了这种转变，但Memecoins（牛市中最强的叙述之一）几乎没有恢复的迹象。

“The U.S. dollar has recently weakened, leading to a rebound in liquidity indicators and some marginal improvements in inflation data. Yet, memecoins are still struggling heavily, with no sign of recovery yet,” Matrixport noted in a recent report.

“美元最近削弱了，导致流动性指标的反弹和通货膨胀数据的边缘改善。然而，Memecoins仍在挣扎，还没有恢复的迹象。” Matrixport在最近的一份报告中指出。