Dragonfly partner: Meme coin trading is dominated by retail investors and should not exhibit the weekend lull typical of professional trading markets

Odaily reports that Dragonfly partner Haseeb posted on X, stating that regarding doubts about Pump.fun’s revenue curve remaining stable over the long term, he believes this phenomenon is not unusual and, from a broader perspective, looks quite similar to the trend of overall crypto spot trading volumes.

Haseeb explained that some users think the daily trading volume is too stable and lacks weekend troughs, so they suspect the data is abnormal. However, he believes this opinion overlooks the structure of participants in the Meme coin market. Since Meme coin trading is mainly driven by retail investors, it does not exhibit the significant drop in trading volume over weekends seen in markets like Hyperliquid that are dominated by professional traders and hedge funds.

Haseeb said that users can verify this point by checking the revenue data before the issuance of Pump.fun tokens—the previous revenue stability was also similar and does not indicate any abnormalities. Additionally, he noted that trading via terminals and Telegram bots has high volumes, so the revenue may not be highly correlated with Pump.fun itself.