Pump.fun has continued to repurchase show operations on Solana with #pump , investing over 205 million dollars in the past five months, accounting for over 99% of the fees, and repurchasing a total of 13.86% of the token supply, helping PUMP rebound from a low position.

But the reality is a bit painful: the PUMP price is still around 0.0027 dollars, with a decline of more than 50% over the past three months, and the repurchase efforts are still difficult to drive the market. The open contract volume is close to historical lows, with over 60% long positions, and only ten whales. The meme craze is cooling down, DEX is shifting towards stablecoins and wrapped assets, and PUMP reflects the cooling trend of meme coin trading on #solana .