According to Miles Deutscher, Pump Fun token's delayed launch may negatively impact trading sentiment as platform fees have started to decline, limiting bullish momentum (source: Twitter). Pump Fun has generated $738 million in fees, but unless a significant portion of these fees is distributed back to ecosystem incentives, traders may see reduced engagement and liquidity in the near term. This development could influence short-term price action and trading strategies across Solana-based meme coins and related DeFi tokens, as market participants weigh the distribution of fees and the timing of the token launch (source: Twitter).