The mood around memecoins looks active again. After months of low interest traders are coming back in large numbers. Recent on chain data shows that nearly twenty thousand wallets have returned to the Pump fun platform after being inactive for around six months. This jump in returning users suggests that risk appetite in the memecoin space is waking up again.
Pump fun plays a key role in the Solana ecosystem. It allows users to create and trade memecoins easily. Because of this memecoin trading has become one of the main drivers of activity on Solana based decentralized markets. When memecoin demand rises it often supports both the PUMP token and Solana itself.
Platform activity during January confirms this shift. Trading volume on Pump fun doubled within a short period. It moved from around forty five million dollars to more than one hundred million dollars. Revenue followed the same pattern and grew from about seven hundred thousand dollars to roughly one point five million dollars. This increase matters because most of the revenue is used to buy back PUMP tokens from the market.
These buybacks have supported price action. Since the lows seen in December PUMP has climbed sharply. The token has gained more than seventy percent and recently traded near the three tenths of a cent level. Weekly buyback activity has also returned to levels last seen when memecoin interest was strong last year. This shows that the recent rise is not only about price but also about real usage and fees.
The revival of memecoin trading has not stayed limited to one token. It has spilled into the wider Solana network. Stablecoin supply on Solana reached a new high during January. At the same time memecoins made up more than half of total decentralized trading volume on the network. This confirms that traders are taking on more risk again and choosing fast moving assets.
Solana price responded to this change. The token posted a recovery of more than fifteen percent during the same period though some gains were later given back. This pattern fits what has been seen before. When memecoin activity grows Solana usage rises and price often follows though not always in a straight line.
What comes next depends on whether this interest can last. Memecoins are highly driven by sentiment. They move fast when attention is strong and cool off just as quickly when traders lose focus. If activity on Pump fun continues to grow it could keep supporting PUMP through revenue and buybacks. It could also help Solana by driving higher network usage and fees.
Still risks remain. Broader market conditions are not fully supportive yet. Without strong overall sentiment memecoin rallies can fade. Price levels matter. Solana needs to hold key support zones to confirm a stronger recovery. PUMP also needs to stay above recent breakout levels to keep momentum alive.
In summary the return of memecoin traders has clearly boosted Pump fun activity. That surge has helped PUMP recover sharply and has also lifted Solana usage. Whether this turns into a longer trend will depend on sustained demand and improving market confidence. For now memecoins are once again playing a major role in shaping Solana activity.
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