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Pump.fun Data Review: Why Has the Current Meme Market Become a "Harvesting Game"?

Approximately 75% of Pump.fun's revenue comes from tokens launched less than 1 hour ago, and 95% comes from bonding curves or tokens with a market cap below 250000 USD. This incentive structure has fostered mass token issuance, bundled front-running, and shilling chaos, rendering long-term holding a disadvantaged strategy.

Source: https://www.panewslab.com/zh/articles/01a1c91d-e8e0-7361-9295-9dd620200934