PumpSwap, the decentralized exchange within the Pump ecosystem, has seen a dramatic increase in trading volume, reaching $1.28 billion in the past 24 hours as Solana's memecoin market experiences a resurgence. This surge is part of a broader "memecoin comeback" that has gained momentum since the start of the year, particularly on Solana, as traders seek high-beta opportunities amid stable bitcoin prices and improved liquidity. Data from DeFiLlama indicates that PumpSwap's 7-day trading volume has hit $6.15 billion, with a 30-day volume of $19.69 billion, contributing to a cumulative volume of nearly $176.8 billion. Despite the high trading activity, fee generation remains modest, with $2.98 million in fees recorded on January 5, of which $1.21 million was protocol revenue. The competitive landscape among Solana platforms has kept fees low, as venues vie to become the preferred choice for swaps. The current memecoin frenzy highlights the renewed interest in Solana's "fun" market segment, though its sustainability remains uncertain.