Morning Minute: The Trenches Just Had Their Biggest Week Since TRUMP
Onchain trading terminals saw their biggest week since the TRUMP launch, with $6.35 billion traded. Fomo handled $2.38 billion and gmgn’s bot $2.07 billion, meaning those two apps accounted for about 70% of volume. Pump.fun and basedbot added most of the rest. The surge was driven by several meme and infrastructure tokens running to $100M+ market caps, including ZCAT, Stonk, MEME, Marscoin, and PONS. Despite the frenzy, broader DEX activity does not yet show a cycle top: total DEX volume hit $9.18 billion for the day and $217.33 billion over 30 days, only up modestly and still far below early-2025 peaks. The main takeaway is that this looks like a trading-app-led cycle, especially for Fomo and Pump.fun, with Pump.fun’s large daily creator rewards likely recycling fees back into the ecosystem and sustaining activity.
