Solana's network revenue has experienced a significant decline, dropping 93% from its January peak of $55.3 million to just $4 million last week, according to data from DefiLlama. This drop reflects a broader decline in the memecoin market, which had previously driven weekly revenues to an average of $38.5 million. The price of Solana's native token, SOL, has also fallen by 61% in 51 days, slipping 8% to $124 and dropping below its realized price of $134 for the first time since May 2022. This price action coincides with a debate among Solana's validators over a proposal to reduce the network's annual inflation rate from 4.7% to about 1.5%. Amid these declines, the platform Pump.fun, which specializes in meme coin launches and trading on the Solana network, has seen its 24-hour revenue fall to $667,000, the lowest level in seven months. This decline is attributed to a cooling off in the meme coin market, with over 98% of tokens launched on Pump.fun in the last 30 days failing to reach a market cap of $100,000, and a 78% drop in revenue since late January. In related developments, Jupiter Exchange has surpassed Hyperliquid in 24-hour revenue and ranks as the second highest fee-generating protocol. Meanwhile, Solana has reclaimed the second spot in decentralized exchange (DEX) volume, flipping Binance Smart Chain (BSC) and Base, and nearing Ethereum's volume. The Solana network has also seen an injection of $9.5 billion in USDC, yet this liquidity has not impacted the price of SOL, as investors have shifted focus to other memecoins like Token Trump, launched by the US President. Additionally, the memecoin Libra, promoted by the Argentine President, turned out to be a scam, siphoning $107 million and causing a 94% price drop. Solana, with a market cap of $63 billion, was initially considered for inclusion in the US strategic reserve of cryptocurrencies, but the reserve was ultimately established for Bitcoin only.