The concept of the two cryptocurrency world is becoming increasingly comparable to Memecoins and Solana.
Since 2024, the network created by Anatoly Yakovenko has been the favourite home of the new Meme Cryptocurrencies.
Low transaction costs and network speeds drive this trend, making Solana what they call “Memocoin Casino.”
Solana, certain platforms “living” in Pump.Fun are one of the main responsibility of this network to house so many Memecoins. As explained by Cryptonoticia, pump.fun allows token creation easily and quicklyhe has no great knowledge of computer science.
The anger sparked by Pump.Fun was enough to have come to overcoming Ethereum in July 2024 with his daily total income.
However, now, Pump.Fun has a competition. It is the main decentralized exchange of Solana, that is, Raydium has released Launchlab, a platform that promises the same thing as pump.fun. Plus, it adds additional features and a better user experience.
Perhaps in response, Pump.Fun announced the launch of Pumpwap, a new decentralized exchange in Solana, a few hours later.
Market analyst Prathik Desai said, “The Memecoin de Solana Ecosystem is experiencing premature episodes of internal struggle as two Titans, Pump.fun and Raydium, declared war against each other.”
He explains that the moment these ads are created is impressive.
«It is when it arises that makes this struggle of power particularly appealing. It’s when the former Memecoin market shows clear signs of fatigue. Solana Network’s revenue has collapsed 95% since its peak in January, with Dex’s daily volume exceeding 93%».
Prathik Desai, Market Analyst
Is this a tailored strategy to revive a niche market that is likely to be declining, and risk replacing it with new fashions? Probably yes, the operation won’t work.
As Desai puts it, “This power struggle never reached a more unstable moment for the Solana Memocoin ecosystem.” He explains, “both contestants may be fighting for a quickly diminishing cake.”
Furthermore, analysts offer a negative future with this commercial ability he calls “war.” “If both platforms are involved in aggressive incentive programs to attract competition or liquidity on the committee, they are risking creating an unsustainable economy that will harm both businesses,” Desai says.
Also, both platforms (pump.fun and raydium) are harmed, It is Solana Red who can benefit from this competitiongenerally.
The reason is that it could increase the amount of negotiated Solana to move capital from one platform to another, or to test both platforms to decide which platform to decide. This is a positive for the ecosystem.
Anyway, I argue that Desiy is the standard. Solana must specialize in other market niches if they want to remain relevant With the cryptocurrency ecosystem.
He mentions four sectors where Solana can stand out. These are distributed finances (defi). Decentralized physical infrastructure (depin); video games; and “evolved memokine.”
What did this mimecoin evolve? Have these speculative financial assets not declined? Desai makes his position clear:
«The classic memokine with animal themes has disappeared, but it could be a new generation with actual utilities. For example, creator coins support new influencers, provide investors with a portion of future YouTube profits, surpassing “simple pictures of animals.”
Prathik Desai, Market Analyst
Perhaps the most valuable outcome for Solana, who is far from being a “casino de me coin.” (and even evolved) many people criticised it and began to be seen as a serious environment for the development of related utility projects.
This is especially important as there are several ETF requests awaiting the US Equity Securities Commission (SEC). Solana should place Sun Cryptocurrency as a reliable investment and is worthy of being included in retail, institutional and corporate treasures. state.
While this duel occurs, Solana’s price has entered a bearish stageas shown in the graph below:
Macroeconomic factors that have influenced several financial markets (including cryptocurrencies) affect Solana’s prices. Similarly, the collapse of Memecoin-Mania could be injuring the Sun’s quote.
Solana has become more prominent in other parts of the market and may need to resume the upward course that cryptocurrency prices have come from the second half of 2023.
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