Solana (SOL) memecoin platform Pump.fun hit multiple record highs in January as technical indicators show the sector heating up, with platform activity reaching levels not seen since April 2025 and the PUMP token climbing more than 60% over the past month.
What Happened: Platform Sets January Records
Data shows daily token creation on Pump.fun surged to nearly 39,000 tokens, marking the highest level since April 2025. The platform's daily active addresses reached 300,000 on Jan. 27, with more than half being newly created wallets.
Analyst Adam noted that "graduated" tokens — those reaching sufficient liquidity to trade on decentralized exchanges — hit a six-month high. "350 tokens graduated from memecoin launchpads yesterday," Adam said. Artemis data showed returning users — wallets inactive for more than 180 days — reached an all-time high.
On the trading side, analyst Seggzy pointed to clear technical divergence among Solana memes. PUMP gained 14.54% with strong momentum, trading above short-term EMAs with volume expansion confirming the move. WhiteWhale rose 7.77% in a more controlled pattern that often reflects accumulation.
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Why It Matters: Buyback Support
Official Pump.fun statistics show more than 19,000 SOL were used to buy back PUMP tokens on Jan. 27 — the highest daily amount ever recorded. The mechanism has repurchased more than 21% of the total supply, providing price support and pushing the token to $0.0031.
Data shows the Solana memecoin market cap reached $5.9 billion, up 5.3% over 24 hours with trading volume exceeding $1 billion.
Several tokens posted outsized gains: Pudgy Penguins partnered with Manchester City for NFTs and merchandise, MELANIA drew attention from an upcoming documentary, and Nietzschean Penguin surged more than 900% after the White House shared an image of President Donald Trump walking with a penguin.
However, most meme coins remain down more than 90% from peaks, suggesting sustained recovery requires fresh capital from outside the market.
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