The Meme coin zone has not yet warmed up, with smart money at the top of Pump.fun gaining small wins frequently over the past week, while most in the middle have retreated.

According to Mars Finance, on September 17, based on GMGN data, although the trading volume of active smart money in the top tier has remained high over the past 7 days, today's returns have mostly turned negative or flat, showing a clear divergence in 7-day returns. The win rate of mid-tier addresses over the past 7 days is generally less than 50%, and the drawdown has widened. A small number of long-held accounts have lost over 80% in 7 days, while most smart money addresses remain inactive.

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