A REVIEW ON THE CURRENT STATE OF THE 'TRENCHES'

Summary from the TLDR Crypto newsletter

Despite earlier claims that memecoins were “dead,” Solana memecoin trading remains active, with Pumpdotfun generating $1.5M–$2M in daily volume. Around 150,000 wallets engage in daily memecoin trading, with 20,000–40,000 token launches and a graduation rate of 0.4–0.8%. Combined, major terminals facilitate over $100M in daily volume and 1–2 million transactions. Pumpswap, Pumpdotfun's native AMM, generated $25M in fees in its first month.