In recent months, PumpFun has become a powerful catalyst for Solana's liquidity, turning the ecosystem into a true memcoin hub.
But now we are seeing the first signs of weakening.
Volumes dropped by 82%, from $3.13B to $560M per day.
💥 148.7K SOL ($28.22M) sent to Kraken.
⚠️ Part of the $462M liquidation cycle, which creates additional selling pressure.
PumpFun has been working on a constant influx of fresh liquidity, but now this flow is slowing down.
Too many risks, too much leverage, and a correction phase is inevitable.
How is this related?
When liquidity shrinks, volatility decreases.
💀 Less new money in memcoins → less hype → weaker market movement.
This may affect not only PumpFun, but also Solana itself.
We saw a similar scenario in 2021 with Ethereum, when a decrease in interest in NFT led to a slowdown in network growth.
Perhaps Solana is now at a similar stage, when a key source of liquidity is starting to fade.
What's next?
The key support level for SOL is $100–$120. If it does not hold, the next stage of correction is possible.
The situation is not critical yet, but the dynamics of the market is changing.
It is important to monitor further developments, especially the state of liquidity in the ecosystem.
