Of 1.58 million tokens that launched, barely 1.4% made it to Raydium for open buying and selling.
Pump.enjoyable – extra like Pump.rekt.
The no-code platform that enables anybody to create memecoins on Solana has a meager 1.4% success price for tokens reaching decentralized trade Raydium. That interprets to 22,330 efficiently launched tokens, out of a whopping 1.58 million initially created, in accordance to a Dune Analytics dashboard, created by evelyn233.
Raydium requires a minimal market capitalization of $69,000 for a token to be accessible for buying and selling on its platform.
Dismal numbers like these provide a telling story into the unsustainable marketplace for memecoins.
For starters, and gauging by the market caps of many tokens on Dexscreener, most of those who even do make it to commerce on Raydium have a short-lived pump, to then shortly dump. Most memecoins, or about 65%, have market capitalizations nicely under the $10,000 mark.
Whereas memecoin merchants get rekt, Pump.enjoyable is making a killing. A Dune dashboard exhibits a complete of $81 million in SOL of charges paid to the web site. Roughly $79 million belongs to tokens that don’t make it to the market.
