Memecoins: The Hilarious Downfall of Digital Lottery Tickets 🎟️💔

Ah, the memecoin mania on Pump.fun, a veritable carnival of folly, has met its match in the unforgiving wall of reality. For the fourth consecutive week, the platform’s “graduation rate” has plummeted below the dismal threshold of 1%. One might say it’s a graduation rate that would make even the most optimistic of parents weep. 🎓😢

Now, what is this “graduation rate,” you ask? It’s the rather grandiose term the memecoin launchpad uses to describe those tokens that manage to stumble through the incubation phase and emerge, somewhat battered, as fully tradable entities on a Solana decentralized exchange (DEX). To achieve this dubious honor, a token must meet certain liquidity and trading requirements—akin to a student passing a final exam while still wearing their pajamas.

Over the past four weeks, commencing from the 17th of February, the graduation rate has remained stubbornly below 1%. Dune Analytics, the oracle of our times, confirms this rather unfortunate statistic. 📉

Historically, Pump.fun’s graduation rate has never been a beacon of hope. The pinnacle of its performance occurred in November, when a staggering 1.67% of memecoins managed to waddle onto the open market. However, this was during a time when the sheer volume of tokens launched made even the most lackluster percentage seem impressive. In the week commencing November 11, a whopping 323,000 tokens were birthed on Pump.fun, translating the 1.67% graduation rate into approximately 5,400 tokens entering Solana’s DeFi economy. A veritable flood of digital confetti! 🎉

Yet, as token creation volume dwindles on both Pump.fun and Solana, the weekly token graduations have nosedived to a four-week average of around 1,500 tokens. One can only imagine the collective sigh of disappointment from the memecoin enthusiasts. 😩

Memecoins are dying, and they’re not responding to positive market signals

The decline in Pump.fun’s graduation rate is a clear reflection of the diminishing appetite for memecoins, which have come to be regarded as little more than degenerate lottery tickets or quick cash grabs for their creators. Who knew that digital currency could be so… untrustworthy? 🙄

Even political figures have joined the fray, launching their own memecoins, including none other than US President Donald Trump. His token has plummeted a staggering 84% from its all-time high set on January 19, according to CoinGecko. Perhaps a lesson in humility for the former president? 🤷‍♂️

Despite the apparent improvement in liquidity, memecoins continue to flounder. Matrixport analysts noted that a strengthening US dollar had previously pressured Bitcoin prices by tightening dollar-denominated liquidity. But alas, the dollar has weakened, and the US Dollar Index (DXY) has seen better days, peaking at 107.61 on February 28 before plummeting to 103.95 on March 14. 📉

“The US dollar has recently weakened, leading to a rebound in liquidity indicators and some marginal improvements in inflation data. Despite these positive shifts, memecoins — once the darlings of the bull market — continue to struggle significantly, with no apparent recovery,” Matrixport lamented in its report. A tragic tale indeed! 📜

Bitcoin caught in memecoin aftershocks

The beleaguered memecoin market has contributed to a staggering $1 trillion wipeout in crypto market capitalization, according to Matrixport. One can only imagine the investors clutching their pearls in horror! 💸

“This redistribution of wealth may lead investors to remain cautious about deploying further capital, causing rebounds — even those triggered by better-than-expected inflation data — to be limited,” the report ominously warned. A cautionary tale for the ages!

Matrixport analysts further caution that this could lead to further declines in Bitcoin, with a potential retracement to as low as $73,000 — a level they believe will provide “strong support.” One can only hope that Bitcoin

2025-03-14 14:01

Memecoins are dying, and they’re not responding to positive market signals

Bitcoin caught in memecoin aftershocks

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