Memecoin Hype Fizzles: Pump.fun Dumps Solana as Cash-Outs Continue.
Solana's resident memecoin casino, Pump.fun, has reportedly been offloading millions in SOL tokens onto Kraken, confirming suspicions that the great memecoin gold rush is losing its luster. As the endless stream of new, pointless tokens slows to a trickle, the folks who made fortunes from them are converting their digital dreams into actual, spendable cash. Who knew that making a quick buck off internet dog coins wasn't a sustainable business model? Guess they're finally buying those real estate investments in Cabo.