Pump.fun, a platform for launching meme coins on Solana, has seen a 27% decrease in daily volume after the endorsement of the LIBRA token by the Argentine president. Pump.fun has become a core part of Solana's DeFi ecosystem, but some industry leaders believe the meme coin trend has hit a wall. Nic Carter of Castle Island Ventures stated that meme coins are "unquestionably over," as recent events have exposed how insiders can benefit disproportionately from meme coin launches. Despite this, Pump.fun continues to generate millions of dollars in fees each day. The launch of LIBRA has been controversial, with allegations of misconduct and sniping of the token for profit. Pump.fun's growth has also stalled in other ways, with a decrease in new wallets and a decline in the number of new meme coins launched on the platform.



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