The Meme trading execution layer is entering an extremely cold profit dehydration period, with on-chain traffic entry points (tool-type) daily revenue halved from $2M levels to below $1M . This is not merely a decline but a violent clearing of the survival ecological niche.

The top-tier Axiom Pro dominates with $18.21M in monthly revenue, exemplifying the typical protocol equity logic: providing ultra-fast execution, recognized by institutions and whales for its PMF and hardcore cash flow. Even as overall profits shrink, it still earns $20.5K in 24 hours. This kind of asset is distancing itself from air-like properties, aligning with US stock valuation logic through hardcore cash flow.

DEX Screener earns $2.64M per month, representing the ultimate “rent-seeking logic.” It monopolizes information distribution rights, does not participate in gambling, only collecting tolls. Regardless of traders’ wins or losses, as long as project parties want to buy traffic or hang a sign, they must pay taxes per transaction. This is the most stable cash flow infrastructure in the track.

Mid-tier tools are suffocating in internal competition. GMGN helps retail avoid pitfalls through “data integration,” with 7-day revenue of $347K, directly confronting Photon and Trojan. Meanwhile, pure traffic entry like Photon has shrunk its daily revenue to $35K, with its moat collapsing along with retail sentiment. Underlying assets like Maestro (once a king) earn only $12K daily, with profits barely covering high-performance RPC costs; multi-chain mediocrity is essentially suicidal.

In this dehydration cycle, if assets cannot evolve into revenue-generating endpoints supported by real business, they can only become fuel for liquidity swallowed by two extremes.