According to data analysis from Dune Analytics, only 1.41% of the crypto assets generated through the Meme coin creation tool, pump.fun, on the Solana blockchain, successfully launch on the Raydium platform under the Solana protocol. Partner Adam Cochran from Cinneamhain Ventures further pointed out that the 'real breakout' value of these new currencies has not exceeded $200 million in fully diluted valuation (FDV). This phenomenon suggests that the market might be experiencing a shake-up process, indicating that 'we're finally starting to wash out the meme cycle'. Notably, several American celebrities, including Caitlyn Jenner, Iggy Azalea, and Jason Derulo, launched their own cryptocurrencies using the tool since May and conducted promotional activities. Despite these efforts, the total market capitalization of Meme coins still stands at $44.94 billion, with a 2.67% drop in value over the past 24 hours, but trading volume has increased by 27.29%, reaching $4.48 billion.