Solana News: Pump.fun Experiences Significant Volume Decline Amid Meme Coin Scam Concerns

Recent developments in the Solana ecosystem have shed light on the challenges faced by one of its prominent token launchpads, Pump.fun. Here’s a closer look at the situation.

Pump.fun Volume Declines 63% Amid Meme Coin Scam Concerns

Trading volume on Pump.fun, a Solana-based token launchpad, has fallen 63% from January to February 2025 due to uncertainty surrounding meme coins. Data from Dune Analytics shows Pump.fun’s trading volume dropped from $119 billion in January to $44 billion in February. Trading activity has significantly decelerated, with only $2.1 billion registered in the past four days. Additionally, new token listings have decreased, with the platform seeing nearly 1,200 new token launches per day at its peak on January 24, but this figure has since dropped below 300. Pump.fun’s co-founder Alon Cohen attributed the slowdown to the broader market downturn.

Experts Advise Solana Price To $1000 Truly Achievable; RBLK Runs Wild

Crypto investor Bastille has predicted that the Solana token could eventually reach $1,000. While this long-term target is debated, many investors are focusing on more immediate returns. Rollblock’s ongoing RBLK presale has attracted investors, with the token priced at $0.06 and already surging over 600%, delivering gains for early participants. Rollblock is drawing attention as a promising GameFi project. Solana surged 24.4% on March 2nd, reclaiming $180.

FTX/Alameda Unstakes 3.03M SOL, Raises Concerns

FTX/Alameda has unstaked 3.03 million Solana (SOL), raising concerns about potential market pressure. The large transfer often signals upcoming price changes. Blockchain analytics platform Lookonchain reported that approximately $41.3 million worth of SOL was transferred to multiple crypto wallets. Of these, 24,799 SOL ($3.38M) has been deposited to Binance, liquidating the asset. The trading impact of this development is significant, with a recent surge in price and trading volume suggesting increased market activity.

Solana (SOL) Price Prediction for March 5

Currently, Solana (SOL) is trading at $142.34, marking a 3.02% increase in the last 24 hours. The short-term surge shows renewed buying interest, possibly driven by short-term traders looking to capitalize on oversold conditions. However, when observed over the last 30 days, Solana’s price is down by 27.78%, signaling that the market sentiment has been largely bearish. This divergence between short-term recovery and long-term downtrend highlights the ongoing battle between bulls and bears. Trading volume has been fluctuating, with notable increases during recovery attempts. Higher volumes suggest that more participants are entering the market, potentially creating a foundation for a technical turnaround if key support levels hold firm. Meanwhile, the immediate support is found around $130.