Throughout last week, specifically from June 10-14, pump.fun averaged roughly $870,000 in daily fees. This week, however, the picture wasn't so rosy. The platform saw its daily fees drop to an average of just around $605,000, marking a 30% decrease week-over-week.

This decline can likely be attributed to unfavorable broader market conditions and an even worse price performance by SOL over the week, leading to a general reduction in risk appetite among users.

The notable reduction in risk appetite is particularly significant for a platform like pump.fun, which represents one of the industry's most extreme points on the risk curve. The assets involved and deployed on the platform are often of the most speculative nature, attracting participants looking to make quick gains but also making …